Restructuring and insolvency
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Restructuring and insolvency

Our restructuring and insolvency team is a multi-jurisdictional team of lawyers who advise a wide array of stakeholders on all issues arising in connection with financial distress.
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Ranked amongst the top 30 firms globally for cross-border restructuring and insolvency mandates by Global Restructuring Review, our team combines technical excellence with the ability to apply astute commercial insight to any given situation.

We act for companies, banks, funds, other financial institutions, office holders, indenture trustees, pension trustees, directors and individuals dealing with the consequences of financial distress.

We are consistently recognised as experts in our field by the legal directories. Our vast experience in all types of corporate restructuring and insolvency, coupled with a deep understanding of the needs of clients in this area, means that we are able to craft practical, commercial and cost effective solutions.

Our lawyers' extensive cross-border experience means that we are able to find solutions which best protect our clients' interests, whether through optimal use of the legal frameworks which exist to facilitate cross border restructurings, or by identifying those jurisdictions and laws that are best suited to our clients' needs.

Our work covers all sectors – and encompasses domestic and international debt restructurings, schemes of arrangement, CVAs, administrations (including pre-packs), refinancings, workouts and turnaround strategies, debt for equity swaps, distressed M&A, distressed investing, loan to own strategies, receiverships, liquidations, personal bankruptcy, insolvency litigation and investigations, and fraud and asset tracing.

"provides 'robust advice' to a diverse array of clients including funds, insolvency practitioners, corporates and banks, and is best-known for its 'very strong capability in relation to contentious matters"

The Legal 500 UK 2020

E-Commodities Holdings (f/k/a Winsway)

Advising one of China’s largest coal importing companies on its award winning US$350 million bond restructuring using parallel Hong Kong and BVI schemes of arrangement and recognition under Chapter 15 of the US Bankruptcy Code.

AI Scheme Limited

Advising a company in the financial services sector on consumer liabilities; devising, negotiating and implementing ground breaking scheme of arrangement involving 11 banks, around 2 million creditors and various regulatory bodies.

Bolton Wanderers FC

Advising the joint administrators on the administrations of Bolton Wanderers Football & Athletic Company Limited, including on the sale its assets to Football Ventures (Whites) Limited, securing the future of the Bolton Wanderers Football Club.

Confidential restructuring of major Ukrainian group of companies

Acting for the companies in this major ongoing financial restructuring involving around $660 million of bank and note debt.

PSBP Midlands Limited

Advising administrative receivers of schools building project on numerous matters, including liaising with stakeholders, replacing the management services provider and contractual arrangements for completing the building project.

Pan Ocean Co Limited

Advising syndicates of lenders in connection with the Korean rehabilitation proceedings in connection with this huge shipping group, including litigation in the English court arising out of the Korean process.

Tomlinson Report

Acting on a number of litigious matters associated with the publication of the Tomlinson Report, including in relation to various claims against insolvency practitioners for alleged breach of fiduciary duty, negligence and breach of contract.

TES Aviation Group

Advising this aviation group on its proposed restructuring and subsequent pre-pack administration.

Noble Group Limited

Advising Bermudian provisional liquidator on the liquidation process used to implement this $3.5 billion restructuring.

Hanjin

Advising various bank syndicates on restructuring and then the Korean rehabilitation proceedings; dealing with various arrest proceedings in multiple jurisdictions.

Integrated Subsea Services Limited (in administration)

Advising the secured creditor in connection with this insolvency in the off-shore sector, involving numerous cross-border issues.

Toys R Us

Advising the administrators of the English entities on a range of matters in the administration including issues arising from aspects of the US Chapter 11 proceedings, and certain pension related matters.

Bell Pottinger group

Acting for the administrators of the English entities within the Bell Pottinger group following the PR firm's collapse into administration after a media scandal.

Angel Group Limited (in administration)

Advising former administrators of this property group on various issues including significant litigation against them involving an application to remove them.

Peak Hotels and Resorts Limited (in liquidation)

Advising liquidators on English aspects of this BVI liquidation of Peak Hotels, a partner in a JV which formerly owned the prestigious Aman Resorts, including recognition in England, security issues and claims.

The Co-operative Bank Plc

Advising the trustee of various issues of notes affected by the liability management exercise undertaken by the Bank, including the exchange offer and consent solicitation and the scheme of arrangement.

IM Skaugen SE

Advising and acting for one of the first foreign companies to successfully obtain scheme moratorium protection from the Singapore courts. This resulted in the first Singapore decision providing clarity on the scheme moratorium regime under s. 211B of the Companies Act (Cap.50).

Jack Wills

Advising and acting for the liquidators of Jack Wills (SG) Pte Ltd as part of the global administration of Jack Wills Limited, in respect of intellectual property as well as title/ownership issues.

Pacific Radiance

Advising and acting for one of the secured lenders in respect of scheme of arrangement moratorium applications by Pacific Radiance Limited and Pacific Crest Pte Ltd and successfully obtained a carve-out of the lender's secured assets from the moratoria orders.

Lawyer

Susan Moore Partner and head of restructuring and insolvency

T:  +44 20 7809 2111
M:  +44 77 6997 6929 Email Susan | Vcard Office:  London

Lawyer

Jamie Stranger Partner

T:  +852 2533 2780
M:  +852 9354 4481 Email Jamie | Vcard Office:  Hong Kong

Latest news & insights

16 Jan 2020

From Insights

First recognition order granted by the Hong Kong Court to PRC insolvency practitioners

CEFC Shanghai International Group Limited (in Liquidation in the Mainland of the People’s Republic of China) [2020] HKCFI 167 (date of judgment 13 January 2020)

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09 Jan 2020

From Insights

The interplay between insolvency and arbitration proceedings in Hong Kong

Sit Kwong Lam v Petrolimex Singapore Pte. Ltd [2019] HKCA 1220 (date of judgment 1 November 2019) But Ka Chon v Interactive Brokers LLC [2019] 5 HKC 238 (date of judgm..

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16 Dec 2019

From Insights

新除牌制度与借壳上市规则

——新修订将如何影响上市公司重组

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03 Dec 2019

From Insights

Hong Kong Court called for better coordination in cross border restructuring

Da Yu Financial Holdings Limited (formerly known as China Agrotech Holdings Limited) (in liquidation) [2019] HKCFI 2531 (date of judgment 17 October 2019)

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03 Dec 2019

From Insights

Going concerns - December 2019

Welcome to the 3rd edition of Going Concerns where we strive to bring you the latest updates on restructuring and insolvency law.

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06 Nov 2019

From Insights

New Delisting Regime and Backdoor Listing Rules

As part of its efforts to combat shell related activities, the Hong Kong Stock Exchange (Stock Exchange) has issued a raft of amendments to its Listing Rules and issue..

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11 Sep 2019

From News

Guillaume Briant joins Stephenson Harwood as partner

Law firm Stephenson Harwood LLP has expanded its corporate practice with the arrival of partner Guillaume Briant, who joins the firm's Paris office.

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30 Aug 2019

From News

Stephenson Harwood advises on restructuring of Bolton Wanderers FC

Law firm Stephenson Harwood LLP has advised on the sale of Bolton Wanderers Football Club, on behalf of its joint administrators Paul Appleton and Asher Miller of Davi..

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17 Jul 2019

From Insights

破产法动态 — 香港法庭确认破产后排除权合同条款的有效性

Hsin Chong Construction Company Limited [2019] 原诉法庭 1531 (判决日期2019年6月13日)

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01 Jul 2019

From News

Going concerns - July 2019

Welcome to the second edition of Going concerns, where we strive to bring you the latest updates on restructuring and insolvency law.

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24 Jun 2019

From Insights

Hong Kong Court validates contractual clause providing for exclusion rights upon insolvency

Hsin Chong Construction Company Limited [2019] HKCFI 1531 (date of judgment 13 June 2019)

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14 Jun 2019

From News

Stephenson Harwood advises on Blackpool FC restructuring

Law firm Stephenson Harwood LLP has advised Paul Cooper and David Rubin, of David Rubin and Partners, in their capacity as receivers by way of equitable execution appo..

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14 Jun 2019

From News

Eloise Fardon wins International Women's Insolvency & Restructuring Confederation founders award

Stephenson Harwood senior associate Eloise Fardon has won the International Women's Insolvency & Restructuring Confederation (IWIRC)’s Fetner Award. The award recognis..

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16 Apr 2019

From Insights

Cross border restructuring in Hong Kong – first recognition of Japanese winding-up

For the first time the Hong Kong Court has recognised a Japanese winding up proceeding and granted assistance to a bankruptcy trustee appointed by the Japanese Court.

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02 Jan 2019

From News

Susan Moore named restructuring and insolvency thought leader and expert by Who's Who Legal

Susan Moore, has been named in Who's Who Legal: Restructuring & Insolvency international ranking 2019.

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20 Dec 2018

From Insights

Going concerns - December 2018

Going concerns' brings you the latest updates on restructuring and insolvency law. This issue focuses on Singapore.

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© Stephenson Harwood LLP 2016. Any reference to Stephenson Harwood in this document means Stephenson Harwood LLP and/or its affiliated undertakings. Any reference to a partner is used to refer to a member of Stephenson Harwood LLP.