Drawing upon a ‘deep bench’ of talent, A&O Shearman is able ’to cover all angles’ for creditors and debtors, in the context of consensual restructurings and distressed investment work, as well as increasingly in matters involving some form of creditor challenge. Indeed, under the expert leadership of Katrina Buckley, the team has been active, both company side and for dissenting creditors, defending and challenging several high-profile restructuring plans. As well as the practice’s traditionally strong traction among banks, work that both Buckley and Nick Lister regularly handle, it also continues to gain market visibility within the private credit space, reflective of the increasing importance of this asset class in major distressed mandates. Karen McMaster and the ‘exceptional’ Tim Watson are key to this fund-related work, with both regularly picking up high-profile ad-hoc committee work, in particular. Other key contacts include Joel Ferguson, whose versatile practice includes real estate restructuring expertise.
Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • 'The rigorous team has a deep bench that can cover all angles.'
  • 'The team is able to draw on expertise across a broad range of practice areas and jurisdictions to provide holistic and coherent advice on restructuring transactions.'
  • 'Tim Watson is an exceptional lawyer. Technically adept while being solutions-oriented, commercially pragmatic and with the interpersonal skills to bring people along.'

Key clients

  • Super senior revolving facility lenders on the restructuring of Consolis Group
  • Vue International
  • Nordic Trustee AS and certain 2024 bondholders of Waldorf Production UK plc
  • International investor in relation to its exposure to the Signa Group
  • Northvolt AB
  • Creditors of ED&F Man
  • DNB
  • Codere Group
  • Global bank group on the restructuring of the Thames Water Group
  • A consortium of banks on the restructuring of the financing provided to Grupa Azoty Polyolefins S.A.
  • Co-ordination committee of creditors to Sino-Ocean Group Holding Limited
  • MGT Teesside Limited

Work highlights

Advising the super senior RCF lenders in connection with the financial restructuring of the Consolis Group, formerly owned by Bain Capital.
Advised Vue International on its second debt restructuring. The restructuring involved new liquidity (with elevation of existing debt for those providing this liquidity), a reduction in the level of cash pay interest, a debt for equity swap and the issuance of new shares for the new money providers.
Acted on the restructuring of the Waldorf Group. A team acted for an Ad Hoc Group of bondholders of the Waldorf Production Group’s 2024 bonds, and a separate team acted for Nordic Trustee AS as bond trustee and security agent.

Lawyers

Leading partners

The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.

Katrina Buckley
Joel Ferguson

Next Generation Partners

Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.

Nick Lister

Practice head

Katrina Buckley

Other key lawyers

Joel Ferguson; Tim Watson; Nick Lister; Nick Charlwood; Karen McMaster; David Campbell; Philip Wells