Restructuring & Special Situations

We are the world’s leading advisor to companies, financial sponsors and creditors in distressed situations including turnaround, recapitalizations and capital raising transactions.

We operate a seamless global team advising across a diverse range of industries. Our team brings deep experience in developing creative solutions and utilizes the breadth of the firms’ global advisory and capital markets capabilities to serve our clients.

Expertise

Out-of-Court Advisory

Design creative liability management solutions for companies, financial sponsors and creditors to support comprehensive balance sheet recapitalizations by creating enhanced liquidity and shareholder value.

Bespoke Financing

Assist companies in negotiating and executing complex specialty financings across the capital structure, managing all aspects of a refinancing process including raising new debt and equity capital.

In-Court Advisory

Advise companies, financial sponsors, creditor groups and boards of directors on all aspects of traditional in-court Chapter 11 bankruptcy transactions.

Tort Liability Resolutions

Provide unmatched expertise in advising companies to develop frameworks to address contingent liability overhangs and to implement structures that comprehensively resolve these liabilities.

Distressed M&A and Asset Sales

Assist companies and other stakeholders on buying or selling assets in a distressed context, both in- and out-of-court.

Results

A proven track record of impact, reflected in the landmark transactions and outcomes we've helped deliver.

$600 million capital raise & $2 billion balance exchange transaction

$600 million capital raise & $2 billion balance exchange transaction

2025

$6.0 billion liability management

$6.0 billion liability management

2025

€5.3 billion advisor to the bondholders

€5.3 billion advisor to the bondholders

2025

Restructuring and Special Situations Results Grid - Baywa

2025

€3.9 billion Advisor to the company

Restructuring & Special Situations Results Grid - Accell Group

2025

€1.4 billion Advisor to the shareholder

Restructuring and Special Situations Results Grid - Wolfspeed

2025

$6.7 billion Chapter 11 restructuring

Restructuring & Special Situations Results Grid - TalkTalk

2025

£1.8 billion Advisor to a take private credit provider

Restructuring and Special Situations Results Grid - Govt of Ukraine

2025

$20.0 billion Advisor to the Eurobonds

Restructuring and Special Situations Results Grid - Lowell

2025

$3.0 billion Advisor to the company

Restructuring and Special Situations Results Grid - Selecta

2025

$2.9 billion Advisor to the company

Restructuring & Special Situations Results Grid - Idorsia

2025

CHF1.1 billion Advisor to the Company

Restructuring and Special Situations Results Grid - Azul

2025

$4 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - Incora

2025

$3.1 billion Chapter 11 restructuring

Restructuring and Special Situations Results Grid - IQHQ

2025

$3.1 billion Advisor to the company

Restructuring and Special Situations Results Grid - Quest

2025

$4 billion Advisor to the company

Restructuring and Special Situations Results Grid - Tropicana

2025

$3 billion liability management exercise

Restructuring and Special Situations Results Grid - Hurtigruten

2025

$2.1 billion Advisor to the company

Restructuring and Special Situations Results Grid - Ivanti

2025

$2.9 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - Claritev

2025

$4.6 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - iHeart Black

2025

$4.8 billion out of court debt exchange

Restructuring and Special Situations Results Grid - WeWork

2024

$3.8 billion Chapter 11 restructuring

Restructuring and Special Situations Results Grid - Adler

2024

€6.9 billion Advisor to the company

 Restructuring and Special Situations Results Grid - Codere

2024

€1.3 billion Advisor to the bondholders

Restructuring and Special Situations Results Grid - Stonegate

2024

£5.0 billion Advisor to a private credit provider

Restructuring and Special Situations Results Grid - Yuzhou Group

2024

$6.7 billion Advisor to the Creditors

Restructuring and Special Situations Results Grid - Brightspeed

2024

$7.6 billion liability management exercise and refinancing

Restructuring and Special Situations Results Grid - Kaisa

2024

$15.3 billion advisor to the creditors

Restructuring and Special Situations Results Grid - Branicks

2024

€2.9 billion Advisor to the company

Restructuring and Special Situations Results Grid - Endo

2024

$8.1 billion Chapter 11 restructuring

 Restructuring and Special Situations Results Grid - Wittur

2024

€860 million Advisor to the bondholders

Restructuring and Special Situations Results Grid - Casino

2024

€7.6 billion Advisor to the SteerCo of Secured TLB

Restructuring and Special Situations Results Grid - Orpea

2024

€9.7 billion Advisor to SteerCo of unsecured creditors

 Restructuring and Special Situations Results Grid - MetroBank

2023

£925 million Advisor to the company

 Restructuring and Special Situations Results Grid - Flint Group

2023

€1.4 billion Advisor to the company

Restructuring and Special Situations Results Grid - Celsa

2023

€3.0 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - Takko

2023

€850 million Advisor to the company

Restructuring and Special Situations Results Grid - Lycra

2023

$1.1 billion Advisor to the company

Restructuring and Special Situations Results Grid - DOF

2023

NOK15.4 billion Advisor to the lenders

Restructuring and Special Situations Results Grid - Altera

2023

$3.7 billion Advisor to the coordinating committee

Restructuring and Special Situations Results Grid - Cineworld

2023

$5.3 billion Chapter 11 restructuring

 Restructuring and Special Situations Results Grid - Nostrum Oil & Gas

2023

$1.1 billion Advisor to the bondholders

Restructuring and Special Situations Results Grid - Naviera Armas

2023

€1.0 billion Advisor to the bondholders

Restructuring & Special Situations Results Grid - ASOS

2023

£1.1 billion Advisor to the company

Restructuring & Special Situations Grid - Anywhere

2023

$3.0 billion Advisor to the company

Restructuring and Special Situations Results Grid - Sunac

2023

$10.2 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - ED&F

2022

$2.1 billion Advisor to the company

Restructuring and Special Situations Results Grid - Prosafe

2022

$1.5 billion Advisor to the senior secured lenders

Restructuring and Special Situations Results Grid - Intelsat

2022

$15.7 billion Chapter 11 restructuring

Restructuring and Special Situations Results Grid - Latam Airlines

2021

$14.4 billion Chapter 11 restructuring

Restructuring and Special Situations Results Grid - Premier Oil

2021

$2.9 billion Advisor to the company

Restructuring and Special Situations Results Grid - Tullow

2021

$4.5 billion Advisor to the company

Restructuring & Special Situations Grid - McGraw Hill

2021

2.3 billion Advisor to the company

Restructuring and Special Situations Results Grid - Genting

2021

$4.5 billion Advisor to the company

Restructuring and Special Situations Results Grid - Swissport

2020

€2.9 billion Advisor to the First Lien Lenders

 Restructuring and Special Situations Results Grid - Garuda Indonesia

2020

$8.6 billion Advisor to the company

Restructuring and Special Situations Results Grid - Norweigean

2020

$6.5 billion Advisor to the company

 Restructuring and Special Situations Results Grid - Leoni

2020

€2.4 billion Advisor to the banks

Restructuring and Special Situations Results Grid - Nobel

2020

$3.4 billion Advisor to the company

Restructuring and Special Situations Results Grid - Intu Trafford

2020

£4.3 billion Advisor to the company

Restructuring and Special Situations Results Grid - NAC

2020

$5.8 billion Advisor to the shareholders

Restructuring and Special Situations Results Grid - Solstad Offshore

2020

€3.0 billion Advisor to the creditors

Restructuring and Special Situations Results Grid - Digicel

2020

$7.3 billion Advisor to the bondholders

Restructuring and Special Situations Results Grid - Steinhoff

2019

€10.7 billion Advisor to an ad hoc committee of creditors

Restructuring and Special Situations Results Grid - Caesars Entertainment

2017

$18.4 billion restructuring of its subsidiary CEOC

We bring the full force of our collective insight to every engagement – working across disciplines and geographies to solve the toughest problems.