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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Spain > Restructuring and insolvency > Law firm and leading lawyer rankings


Index of tables

  1. Restructuring and insolvency
  2. Leading individuals
  3. Next generation lawyers

Leading individuals

  1. 1

Next generation lawyers

  1. 1
    • Alexandra Borrallo - Clifford Chance
    • Javier Castresana - Allen & Overy
    • Juan María Jiménez - Garrigues
    • Andrea Perelló - Cuatrecasas

Who Represents Who

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Clifford Chance’s ‘first-class, always commercial’ practice is comprised of experts from its banking and litigation teams who ‘focus on what is achievable within tight deadlines but with imaginative insight’. Carlos Hernández-Canut leads on refinancing, recently advising the ad hoc committee of bondholders on Abengoa’s €14bn restructuring. On the insolvency side, key contact Iñigo Villoria has ‘profound experience and provides practical advice’; senior associate Alexandra Borrallo specialises in civil lawsuits and insolvency proceedings.

Cuatrecasas’ team, led by Javier Castrodeza, advised on key debt restructurings for Gestamp, TMF Group and Sando. Fedra Valencia is a notable name for insolvency proceedings, including acting for the highway operator in the €400m Madrid highway network case and assisting Indushoes with its pre-insolvency work for Marypaz. Senior associate Andrea Perelló has expertise in corporate restructuring agreements, acting for debtors and creditors.

Garrigues provides ‘rapid responses to complex questions’ and is heavily involved with the infrastructure, real estate and renewables sectors. The group also advises financial entities including Santander and BBVA and has a standout reputation for its work on non-performing loan transactions (NPLs), acting for notable investment firms such as Bain Capital. Adrián Thery and associate Juan María Jiménez are assisting a group of international insurers with their claims against Abengoa following its homologation. Juan Verdugo and Borja García-Alamán are also key practitioners.

Linklaters is particularly active in areas such as corporate and real estate restructuring, assisting with the two largest restructurings in Spain; Pedro de Rojas recently acted for Abengoa and the ad hoc group of bondholders in the Isolux case. Other highlights include acting for Bank of America Merrill Lynch (BAML) on the insolvency proceedings of Hotel Puerta Castilla.

Uría Menéndez’s nine-partner team is jointly headed by Alberto Núñez-Lagos and Sebastián Sáenz de Santa María. The group had a key role in the Isolux restructuring, advising certain entities of the group on refinancing. Carlos de Cárdenas Smith is advising a syndicate of lenders led by BBVA and Santander on a €6.8bn restructuring of Fomento de Construcciones y Contratas’s corporate indebtedness. Other highlights include assisting Global Asset Capital with the coordination of the €2.8bn restructuring and purchase of Marme Inversiones following its insolvency.

Allen & Overy regularly acts for lenders on complex restructurings, which gives the team ‘valuable insight into each transaction’. Juan Hormaechea recently assisted Bain Capital Credit with its acquisition of a €500m NPL portfolio sold by Ibercaja Banco. Co-managing partner Antonio Vázquez-Guillén led advice to BAML on its interests with respect to Alteco and Mag Import’s €1.5bn insolvency proceedings. Newly made-up partner Javier Castresana has ‘an excellent ability to deal with complex situations and find innovative solutions’.

Freshfields Bruckhaus Deringer is experienced in acting for debtors and creditors in high-profile refinancing operations across a wide range of sectors. Iñaki Gabilondo, recommended for his ‘global vision and ability to bring solutions’, co-leads the team; notable work includes advising a group of Spanish banks on the €1bn debt restructuring of Nueva Pescanova. On the insolvency side, practice co-head Rafael Murillo is acting for Reyal Urbis.

Gómez-Acebo & Pombo is particularly active in financing and refinancing deals on the borrower side, where clients include Euroconsult and Assignia. It also acts for large lenders including banks and international investment funds; it recently advised a syndicate of leading banks on the €287m debt refinancing of Teka Industrial. ‘Effective negotiatorMiguel Lamo de Espinosa heads the practice.

Ashurst LLP’s team covers financing, distressed debt transactions and insolvency and has ‘deep industry knowledge’ of the real estate sector; it recently advised several funds on the insolvency proceedings of developer Reyal Urbis. The firm is particularly strong on NPLs, with practice head Jorge Vázquez leading advice on several notable portfolio sales. Highlights on the lender side included acting for RBS on Celsa Group’s €500m debt restructuring.

Baker McKenzie handles large sales of distressed assets and has particular experience acting for lenders, including leading Spanish banks Cajamar and Bankia. Highlights included assisting Deutsche Bank with its work for Abengoa’s bondholders on an €8bn restructuring. The firm has recently expanded its practice, and is involved in defending creditors and company directors in insolvency proceedings. Víctor Mercedes is the key contact. Fernando de la Mata is now with Cortés, Abogados.

CMS Albiñana y Suárez de Lezo’s six-partner team, led by Juan Ignacio Férnadez Aguado, acts for domestic entities and international groups on cross-border matters for debtors and creditors. Recent highlights include advising on the insolvency of construction company Chamartín La Grela and assisting manufacturing group I-Tek with its €260m debt restructuring.

DLA Piper LLP acts for domestic and foreign corporates as well as investment funds; the team is particularly experienced in handling distressed asset investments. Ignacio Gómez-Sancha, who leads on restructuring, is acting for the shareholder and creditor, Purple Ruby, in the Nueva Pescanova insolvency as well as jointly advising Abengoa on its €20bn restructuring. New hire Óscar Franco is the key contact for insolvency.

Herbert Smith Freehills LLP’s ‘very good’ team advises major corporations, banks and investment funds. Gonzalo Martín de Nicolás assists with debt and bond restructurings, including cross-border transactions; highlights included acting for BAML on its acquisition of a €196m loan portfolio. Of counsel Javier de Carvajal is noted for his insolvency expertise.

J. Almoguera y Asociados is an R&I boutique involved in major deals in the space, acting for Isolux Corsán as well as for key creditors such as ING Bank. Founding partner Jesús Almoguera, who heads the team, stands out for his ‘seniority and experience’.

Pérez-Llorca acts for several high-profile banks and is strong in financing transactions. London-based Fernando Quicios advises UK-based investors on Spanish matters, recently assisting a hedge fund manager with Spanish insolvency regulations concerning its acquisition of distressed debt from gaming group Codere. Disputes head Félix Montero is the contact on the insolvency side.

Simmons & Simmons LLP is strong in advising financial institutions; the team is acting for Santander in Abengoa Bionergía (a subsidiary of Abengoa)’s insolvency proceedings. Practice co-heads Andrés Mochales and Álvaro Muñoz are recommended for their ‘experience and depth of advice’.

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