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  1. Our capabilities
  2. Restructuring

Restructuring

We have led on some of the biggest and most high-profile cross-border restructurings of recent years.
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Our team has a wealth of experience acting for stakeholders involved in corporate restructurings or experiencing financial stress

We help boards of directors to steer corporates through troubled waters, and advise global investment funds, asset managers, banks, bondholders and other lenders on debt and corporate restructurings.

We also work closely with our sector specialists to build a deep understanding of the business and its financial pressure points. The team focuses on implementing sustainable solutions and managing the diversity of stakeholder expectations from start to finish.

We are proud of our reputation for taking a pragmatic and commercial approach to speed up lengthy processes and achieve the best outcome for our clients.

Related capabilities

CVAs
Distressed M&A
Formal insolvency proceedings
Insolvency related litigation
Restructuring plans
Schemes of arrangement
Special situations

Related podcast series

No Worse Off

Highlight experience

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McDermott

Acting as restructuring expert in McDermott regarding the application of a WHOA to the discharge of approx. US$1bn in liabilities and adjust of US$ approx. US$2.5bn of liabilities towards lenders

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Contacts

Meet the team
London

Ken Baird

Partner
London

Richard Tett

Partner
London

Catherine Balmond

Partner
London

Lindsay Hingston

Partner
Meet the team

Awards & recognition

Chambers Global 2026

Ranked Band 1 for Restructuring & Insolvency – Europe-wide

The British Legal Awards

Restructuring Team of the Year 2025

Chambers USA 2025

Band 1 - New York – Bankruptcy/Restructuring: Highly Regarded

GRR Awards

European Practice of the Year 2025

IFLR Middle East Awards

Restructuring Deal of the Year 2025

IFLR Europe Awards

Restructuring Deal of the Year 2025

Our thinking

Our thinking

Mar 12 2026

EU Insolvency Law Harmonisation approaches the finish line

On 10 March 2026, the European Parliament formally approved the long-awaited Directive harmonising certain aspects of insolvency law...

Mar 9 2026

Freshfields Special Issue 2025

Freshfields’ 2025 Special Issue highlights major restructuring trends, key judgments and expert insights shaping UK and cross‑border insolvency.
Dec 23 2025

Restructuring – 2025 in review and predictions for 2026

If recent years were marked by the development of a new generation of court-based restructuring tools, 2025 was the year they were...
Dec 3 2025

Freshfields lawyers author two chapters for GRR Americas Restructuring Review 2026

Our international restructuring teams have authored two chapters for the Global Restructuring Review (GRR) Americas Restructuring Review 2026.

Nov 18 2025

Wirecard insolvency: Federal Court of Justice confirms subordination of shareholder damages claims to all creditor claims in landmark insolvency ruling

In its much-anticipated judgment of 13 November 2025 the German Federal Court of Justice (FCJ) held that in insolvency proceedings, shareholders’ damages claims...

Nov 11 2025

Panoramic: Restructuring & Insolvency – 2026 edition now out

We are pleased to announce the publication of the 2026 edition of Panoramic: Restructuring & Insolvency. Covering 39 jurisdictions, this...
Nov 10 2025

River Island and Poundland – a consolidated framework for the court’s exercise of cross class cram down discretion

 The UK retail sector faces ongoing challenges from shifts in consumer behaviour and persistent economic pressures. In this light, Part...
Oct 7 2025

Practice Statement 2.0: A significant milestone for Part 26 Schemes / Part 26A Plans?

Introduction Changes are afoot to Court rules for English in-court restructuring processes to make them fit for the future. On 18...
Sep 17 2025

Cross class cram across and cross border complexities: lessons from the Madagascar Oil restructuring plan

The High Court sanctioned Madagascar Oil Limited’s restructuring plan, exercising cross class cram down. The judgment deals with a few...
Aug 21 2025

Waldorf: the trilogy of Court of Appeal cases applied – restructuring plan not sanctioned

In a significant further application of the Court of Appeal’s reasoning in Adler, Thames Water and Petrofac, the High Court declined to...
Jul 14 2025

EU Insolvency Law: Momentum builds as European Parliament comments on the draft directive to harmonise certain aspects of insolvency law

In our earlier blog, "EU insolvency law: Member States move closer to harmonisation", we examined how proposals to harmonise insolvency...
Jul 11 2025

Petrofac in the Court of Appeal: ‘No worse off’ test clarified, but fairness of benefit allocation brings down restructuring plan

In a significant follow-on judgment the Court of Appeal has both clarified and moved beyond the High Court’s approach to the ‘no worse...
Jun 17 2025

EU Insolvency Law: Member States Move Closer to Harmonisation

On 12 June 2025, the Council of the EU announced that member states have agreed on a general approach to a directive aimed at bringing...
Apr 17 2025

Petrofac restructuring plans move forwards: notice and fees in the spotlight

On 8 April 2025, Mr Justice Marcus Smith delivered judgment granting Petrofac Limited and Petrofac International (UAE) LLC (the Plan...
Feb 19 2025

Sino-Ocean’s Contentious Rescue Plan: Court Sides with Survival

19 February 2025 UPDATE: Following sanction of the English RP, Justice Linda Chan of the Hong Kong High Court sanctioned Sino Ocean...
Jan 16 2025

New rules allow Companies House to share non-public information with insolvency officeholders

New rules in the UK allow Companies House to share non-public information with insolvency officeholders and the Official Receiver. While...
Dec 17 2024

Harmonisation of EU insolvency laws moving closer to a common approach

On 13 December 2024, EU member states agreed on a ‘partial’ general approach to the harmonisation of insolvency law. Two years ago, on 7...
Dec 4 2024

Restructuring plans – 2024 in review and predictions for 2025

2024 was a busy year for the UK restructuring market, and particularly for the restructuring plan – we’ve seen some important...
Nov 19 2024

Restructuring Meets Litigation: Insights from the Chaptre Finance Decision

In a recent decision, the English High Court has continued the trend of treating court-based restructurings as civil litigation. As we...
Nov 14 2024

Panoramic: Restructuring & Insolvency – 2025 edition now out

We are delighted to announce the release of the latest edition of Panoramic: Restructuring & Insolvency. This publication covers 37...
Nov 1 2024

Dutch Supreme Court provides clarity on aspects of the WHOA in Royal IHC judgment

On 25 October 2024, the Dutch Supreme Court ruled in a ground-breaking judgment in Royal IHC that a WHOA plan may change creditors’ and...
Oct 24 2024

To NDA or Not to NDA?: Ad Hoc Creditors’ Committees and “No MNPI” Rubber-Stamps

Non-Disclosure Agreements (“NDAs”) with distressed borrowers and issuers have become a significant piece of the restructuring puzzle. A...
Nov 14 2024

Panoramic: Restructuring & Insolvency – 2025 edition now out

We are delighted to announce the release of the latest edition of Panoramic: Restructuring & Insolvency. This publication covers 37...

Related capabilities

CVAsDistressed M&AFormal insolvency proceedingsRestructuring plansInsolvency related litigationSchemes of arrangementSpecial situations
Related capabilities
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