Restructuring (including bankruptcy): corporate

Linklaters LLP

Linklaters LLP‘s rapid expansion of its New York office has included the hire of a number of finance and restructuring professionals, including the recruitment of senior restructuring specialist Daniel Guyder from A&O Shearman. Michael Torkin has also joined the firm from Simpson Thacher & Bartlett LLP as head of US capital solutions and special situations, noted for his expertise in restructuring-related M&A work. They have integrated into a team that already has an established record in domestic and cross-border restructurings, particularly on the creditor side. Particular strengths are chapter 11 bankruptcies, along with in and out-of-court restructurings, including representing Crédit Agricole and the steering committee of lenders and issuers on the restructuring of McDermott’s debt obligations. Margot Schonholtz is hugely experienced and heads the US restructuring and insolvency practice; she is noted for representing financial institutions in restructurings and bankruptcies involving oil and gas, merchant and midstream energy, coal, chemical and solar energy businesses. Penelope Jensen specialises in chapter 11 proceedings and out-of-court restructurings. All named individuals are based in New York.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

‘The team's global reach is excellent, providing prompt, seamless advice in cross-jurisdictional matters.’
‘Highly professional, they always go the extra mile to provide technical legal as well as practical, strategic advice to the highest standard.’
‘Christopher Hunker has a deep foundational understanding of complex bankruptcy matters, involving US state and federal law.’
‘Penelope Jensen is terrific. Smart, responsive, good communicator, and fun to be around.’
‘Outstanding handling of complex cross-border case, seamless coordination between the US, UK and Dutch partners to address relevant restructuring issues in each respective jurisdiction. The team provided practical and pragmatic advice, successfully navigating legal challenges in all jurisdictions and delivered innovative solutions.’
‘Penelope Jensen is just a rock star - very, very talented and responsive.’
‘The Linklaters team possess a strong ability to understand both the legal and commercial points of a transaction and the issues that arise; this allowed us to get to a deal with several stakeholder groups. The case was very contentious, so it required advisors with experience and cool heads to arrive at a compromise. The results of the restructuring were extraordinary.’
‘The Linklaters team was led by Penelope Jensen, who managed her cross functional and cross regional teams seamlessly. The team is good at being accommodating to their client but also pushing back at the right time to facilitate a thoughtful position to maximize value, and allow for emotions to be excluded from the process. The associates at Links are trained well and very knowledgeable, as well as being responsive.'

Key clients

Crédit Agricole CIB
Barclays
HSBC
Bank of America
Morgan Stanley
Pride Group Holdings
Volta Trucks
China Aoyuan Group
Vewd Software Holdings
Yuzhou Group Holdings Company

Work highlights

Advised Crédit Agricole CIB as LC agent, issuer, and lender on the restructuring of McDermott’s debt obligations and its liabilities related to commercial disputes with major project counterparties.

Advised Pride Group Holdings and its affiliated debtors in Chapter 15 proceedings pending before the United States Bankruptcy Court for the District of Delaware.

Advised China Aoyuan Group on the multi-jurisdictional restructuring of the group’s material $7.3bn offshore debt liabilities.

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