Two cross-border teams have contributed chapters of Global Restructuring Review (GRR) Americas Restructuring Review 2025. The GRR Restructuring Review is a collection of insights and thought leadership to build a global outlook on the world of restructuring and insolvency. Learn more about our chapters below:

Capital Solutions Financings: Yield Driving Structure

In this chapter, our lawyers explore some of the typical deal structures for capital solutions financings (including relevance in certain non-US jurisdictions), various ways in which yield is captured in debt focused capital solutions instruments and briefly conclude with a few thoughts on the vulnerability of call protection and related concepts.

This chapter was drafted by New York-based partners Damian Ridealgh, Mark Liscio, and Andrea Basham, Milan-based partner Francesco Lombardo, Frankfurt-based partner Michael Josenhans, and London-based partner Ken Baird.

To read the chapter online, click here.

EU Adaptation of Important Chapter 11 Provisions

Chapter 11 has been a model and a vision for the EU restructuring community for the past 20 years. Following the enactment of the EU Restructuring Directive in 2019, nearly all EU member states have moved to implement the Directive. This includes the Netherlands, France, Germany and Spain, which have all adopted insolvency and restructuring laws with many of the same features of Chapter 11. The United Kingdom has also enacted a new restructuring process that possesses many of these familiar Chapter 11 features. This chapter compares a number of these new laws with their US Bankruptcy Code counterparts.

This chapter was drafted by London-based partner Ken Baird and counsel Katharina Crinson, New York-based partner Mark Liscio and counsel Samantha Braunstein, Amsterdam-based partner Michael Broeders, Hamburg-based partner Marvin Knapp, Paris-based partners Laurent Mabilat and Guilhem Bremond, Madrid-based partner Ana López, and knowledge lawyer Silvia Angós.

To read the chapter online, click here.