Restructuring & Special Situations

Our team — one of the world’s largest restructuring and special situations practices — advises the full array of stakeholders involved with financially distressed businesses, including debtors and issuers of both public and private securities, all types of creditors, equity holders, new investors, boards of directors, and senior management teams.

Why Latham

Combining practical commercial insight and a nuanced understanding of today’s most innovative financial structures, we drive consensus and lay out a clear and confident vision for the best path forward. 

A significant part of our work focuses on developing creative and value-maximizing strategies in complex, and often contentious, restructuring and insolvency matters with multi-layered capital structures — including some of the largest restructurings in the past decade. Our greatest strength is cross-collaboration with other market-leading practices in all of the major financial centers across the world, including the firm’s tax, M&A, private equity, capital markets, employment and benefits, and debt finance groups. We also collaborate closely with leading practitioners across Latham’s industry teams to deliver innovative and bespoke solutions for our clients. 

Our breadth of experience spans financial and operational restructurings, often with a cross-jurisdictional dynamic. We are equally adept at pursuing solutions in and out of court, including creditor compromise procedures, security enforcements, debt rescheduling, liability management transactions, exchange and tender offers, refinancings, new money and distressed financings, debt to-equity swap transactions, equity capital raises, and strategic and distressed M&A transactions. And because corporate governance is a key consideration in any stressed or distressed situation, we work closely with companies and their boards to identify and manage risk effectively, minimize fiduciary liability, and navigate stakeholder negotiations. 

Regardless of the challenge at hand, our team responds with strategic and comprehensive counsel — allowing clients to surmount the varied legal, financial, operational, and corporate governance obstacles that may arise in troubled situations, and achieve their business or investment goals.

Awards & Rankings

  • Latham & Watkins Named European Finance Team of the Year - December 01, 2021
  • Two Partners Recognized As Los Angeles Leaders In Law - November 29, 2021
  • FT Names London Partner One of Europe's Top 10 Most Innovative Legal Practitioners - October 17, 2021
  • Latham Recognized for Advising on International Company Turnaround/Transaction of the Year - September 13, 2021
  • Restructuring Partner Named Rising Star - June 27, 2021

Latham is recognized for its “prominent restructuring teams” that “act on behalf of creditors and distressed companies” with “seamless cooperation on cross-border mandates” and “broad global coverage.”

Chambers USA 2021

Media Coverage

Leaders in Law: Jeff Bjork and Meghan CocciRising Star: Latham & Watkins' Ted DillmanRestructuring Partner Recognized by the American Bankruptcy Institute

News

Latham & Watkins Named European Finance Team of the YearTwo Partners Recognized As Los Angeles Leaders In LawLatham & Watkins Advises Oaktree Capital on Strategic Transactions for Calumet Specialty Products Partners

Thought Leadership

COVID-19 Commercial Rent Arrears: UK Publishes Draft Arbitration Rules Hong Kong Court Recognises PRC Reorganisation for the First TimeFrance Publishes Restructuring and Insolvency Law Reform Ordinance

Webcasts & Podcasts

Michael Haas on the Debtwired! PodcastPodcast – Insolvency Reform: Spotting and Mitigating Future Risk in Supply RelationshipsPodcast – Restructuring in Asia: How Will Chinese Bond Defaults Resolve?