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 recovery.

"They are a strong firm and established player in the personal insolvency market."

Chambers UK 2021

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

Ian Benjamin Partner

T:  +44 20 7809 2286
M:  +44 7921 472 238 Email Ian | Vcard Office:  London

Lawyer

Julian Cahn Partner

T:  +44 20 7809 2342
M:  +44 79 2004 4969 Email Julian | Vcard Office:  London

Lawyer

Jamie Stranger Office managing partner Greater China

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

Lawyer

Rubin Weston

T:  +44 20 7809 2595
M:  Email Rubin | Vcard Office:  London

Lawyer

Stuart Frith Consultant

T:  +44 20 7809 2376
M:  +44 7970 686 462 Email Stuart | Vcard Office:  London

Latest news & insights

13 Sep 2021

From News

Stephenson Harwood strengthens restructuring and insolvency capabilities with arrival of Tim Crocker

Law firm Stephenson Harwood LLP has strengthened its restructuring and insolvency (R&I) practice with the arrival of partner Tim Crocker, who will be based in its Lond..

More

03 Sep 2021

From Insights

Cross border insolvency – further consideration of listed companies and the second core requirement by the Hong Kong Court

The vast majority of listed companies in Hong Kong are incorporated offshore, with a corporate structure that the operating and asset owning subsidiaries in Mainland C..

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12 Aug 2021

From Insights

Hurricane Energy restructuring refusal: an ill wind blowing for bondholders?

The High Court has, for the first time since the introduction of the legislation in June 2020, refused to sanction a cross-class cram-down restructuring plan under Par..

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29 Jul 2021

From Insights

Cross border insolvency - first application by Hong Kong liquidators to seek recognition and assistance in Mainland China

In May 2021, a landmark cooperation mechanism was implemented between Hong Kong and Mainland China on recognition and assistance in cross border insolvency.

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27 Jul 2021

From Insights

Wherever I lay my hat is not necessarily my home (for the purposes of bankruptcy)

In order to be made bankrupt in this jurisdiction one needs to have lived here permanently for a material (or perhaps considerable) amount of time. However, what migh..

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14 Jul 2021

From Insights

Going concerns - July 2021

In this edition of the Going concerns, our Stephenson Harwood restructuring and insolvency team provides a brief update on the newest developments in Singapore, UK and..

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09 Jun 2021

From Insights

关键的一步 – 香港与内地就清盘/破产程序的相互认可和协助

在2021年5月14日,香港特别行政区与内地最高人民法院签署了《最高人民法院与香港特别行政区政府关于内地与香港特别行政区法院相互认可和协助破产程序的会谈纪要》,旨在建立一个合作机制,让香港清盘人和内地的管理人可以在内地、香港两地互相寻求对有关清算/破产程序的认可和协助。毋庸置疑,这是两个司法管辖区之间就跨境破产问题进行合作的里程碑。

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08 Jun 2021

From Insights

The Court of Final Appeal's decision on void disposition

Hsin Chong Construction Company Limited (in liquidation) v Build King Construction Limited [2021] HKCFA 14 (judgment dated 13 May 2021)

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12 May 2021

From Insights

Landlords feel the pinch… again! Virgin Active Restructuring Plan sanctioned by High Court

The Part 26A Restructuring Plans proposed by each of Virgin Active Holdings, Virgin Active Limited and Virgin Active Health Clubs Limited have been sanctioned by the c..

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02 Feb 2021

From Insights

Cross-border insolvency in Hong Kong – listed companies and the second core requirement

China Huiyuan Juice Group Limited [2020] HKCFI 2940 (date of decision: 19 November 2020)

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01 Feb 2021

From News

Stephenson Harwood (Singapore) Alliance advises iflix on pre-pack scheme arrangement

Law firm Stephenson Harwood (Singapore) Alliance has advised the iflix group on its group restructuring, and recently acted for iflix Pte. Ltd. in obtaining court appr..

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18 Nov 2020

From Insights

Holding back the tide – the extension of reliefs for businesses

Understanding the current legal landscape can enable you to take steps to protect your interests and mitigate the possibility that the financial difficulties of a stru..

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02 Nov 2020

From News

Stephenson Harwood strengthens restructuring and insolvency capabilities with arrival of Ian Benjamin

Law firm Stephenson Harwood LLP has strengthened its restructuring and insolvency (R&I) practice area with the arrival of partner Ian Benjamin, who will be based in it..

More

22 Oct 2020

From Insights

Going concerns - October 2020

In the latest edition of Going concerns, Stephenson Harwood’s Asia restructuring and insolvency team touch on key changes in Singapore brought about by the recent Sing..

More

17 Aug 2020

From Insights

Media coverage: Professional Pensions - What the new corporate insolvency law means for the pensions industry

The 248-page Corporate Insolvency and Governance Act provides additional options and protections for companies that would otherwise be facing insurmountable financial ..

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10 Aug 2020

From Insights

Corporate Insolvency and Governance Act 2020 – How does this impact secured lenders?

CIGA introduces various changes to various provisions of the Insolvency Act 1986 and the Companies Act 2006.

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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.