When bankruptcy, restructuring, or insolvency appears and financial distress threatens a business, all parties desire a rapid resolution. Whether the challenge appears at headquarters or in a foreign jurisdiction, today’s global marketplace presents the decision-maker with a complex web of possible outcomes and legal strategies. Protecting your interests can be a daunting task when faced with conflicting economic interests, emotions and sometimes multiple legal systems and cultural norms. And it has never been more critical to be adroitly advised and flexibly responsive when considering which jurisdictions, laws and industry practices will result in the most ideal outcome.
Whether you’re managing a real estate portfolio, a distressed manufacturer or health care service provider; purchasing a weakened retail operation or struggling transportation business; or simply a trader of heavily discounted sovereign and institutional debt and other securities, you can rely on us to take the edge off your anxiety. Dentons’ lawyers in offices around the world possess a deep understanding of your markets, wherever you trade and invest.
We grasp the complexities of your industry, whether natural resources or technology-based; dependent upon the value of real estate or branded retail goods; manufacturing, transportation or service dependent; or a regulated monopoly. Side by side, we navigate intricate legal challenges and discover the best possible opportunities. Whether you need creative litigation or arbitration strategies, innovative negotiating tactics born from real-world experience or practical guidance in cross-border restructuring, we deliver the latest insights and known solutions so you can act with speed and confidence.
With a passion for identifying effective advocacy and representation, we become a dynamic force on your side. Together, we discover the best course of action in a high-stakes situation.
More About Restructuring, Insolvency and Bankruptcy
- AVEOS Fleet Performance: Advising in connection with its Companies' Creditors Arrangement Act proceedings. Founded as Air Canada Technical Services (ACTS), AVEOS was one of the largest airline maintenance, repair and overhaul providers in the Americas.
- Catalyst Paper Corporation: Advising the Ad Hoc Group of First Lien Lenders of Catalyst Paper Corporation and certain of its subsidiaries in their Companies’ Creditors Arrangement Act/Chapter 15 proceedings.
- Energia Overseas: Representing a Russian reorganization sponsor and Chapter 11 debtor-in-possession funder for Sea Launch that resulted in Sea Launch shedding over $2 billion in debt and migrating with regulatory approvals in several steps from Delaware to Switzerland.
- Federal-Mogul: Representing the Official Creditors’ Committee in these US Chapter 11 cases. Federal-Mogul is one of the largest auto parts and systems manufacturers and distributors in the world, with operations throughout the US and Europe. A total of 157 companies filed for Chapter 11, and 134 of those companies also commenced insolvency proceedings in the UK with more than US$2 billion in debt. Our skill was called upon in restructuring the company’s business operations and deleveraging its balance sheet. Throughout these proceedings, we successfully represented the Federal-Mogul committee in negotiations with and actions against the debtors, the asbestos claimants, the pre-petition secured lenders and the UK administrators in the UK insolvency proceedings. We successfully sought and won the termination of the debtors’ exclusive period to file a plan of reorganization in the US, which allowed the Creditors’ Committee to propose its own plan of reorganization based on the settlements reached with the other creditor constituencies. The UK counsel from one of our predecessor firms represented the UK administrator in the administration.
- Great Basin Gold: Advising an ad hoc group of bond holders in connection with Great Basin Gold’s CCAA, Chapter 11 and South African Business Rescue proceedings.
- Legacy Committees: Advising the Official Committee of Unsecured Creditors, Airdrie Capital Corporation, Railside Capital Inc., Foundation Place Capital Inc. and certain other affiliates in CCAA proceedings. The matter involved innovative use of the Creditors Committee in a multi-real estate restructuring that involved a broadbase of investors.
- Lehman Bankhaus German (affiliate of Lehman Brothers Holdings, Inc.): Representing in its complex claims against, and transactions with, other Lehman entities. We also represent numerous other clients in a wide variety of matters worldwide arising out of the Lehman collapse, including hedge funds and other financial institutions in connection with the administration of the English Lehman companies. This is especially true in relation to prime brokerage issues and International Swaps and Derivatives Association close-out positions.
- Medican Holding Ltd.: Advising in their proceedings under the Companies’ Creditors Arrangement Act. This matter involved the restructuring of a number of operating entities and real estate development projects through the innovative use of project-related debtor-in-possession facilities and a chief restructuring officer CRO to supplement management.
- Nortel Networks: Serving as Canadian counsel for the Official Committee of Unsecured Creditors and certain of its direct and indirect subsidiaries in the cross-border CCAA/Chapter 11 proceedings.
- Omnium Group: Representing following the merger of some activities with parts of the Laurad group. Dentons partners successfully objected to conciliation proceedings, and advised on a favorable settlement agreement allowing Omnium to recover its financial independence and continue its business.
- Perella Weinberg: Representing as majority holder of €495 million F.C.T. Windermere XII bonds issued by Hold in respect of La Tour Cœur Défense, in connection with the debt restructuring, the court imposed safeguard proceedings, and seeking the sale of Cœur Défense.
- PricewaterhouseCoopers: Advising on the administration of two of the UK subsidiaries of Petroplus, which owns and operates a refinery at Coryton and a storage facility at Teeside. The refinery employs about 500 staff and 350 contractors, supplying approximately 20 percent of the fuel for London and the surrounding region.
- European private distressed debt investor: Representing in connection with program purchase of manufacturing company obligations.
- Solarwatt AG: Representing in the first petition for protective shield proceedings as a debtor-in-possession following the recent German reform of insolvency law (ESUG). Under ESUG, the reorganization obtained court approval in three months.
- United Airlines, Inc. (UAL): Representing the Official Creditors’ Committee in these Chapter 11 cases that resulted in a successful plan of reorganization and an enhanced platform to facilitate the merger with Continental, which resulted in creating the largest airline in the world. The Creditors’ Committee played a material role in maximizing the value of the estates, and the recovery to unsecured creditors by, amongst other things, garnering the waivers of hundreds of millions of dollars in administrative and other claims, refining and improving settlements, and spearheading a motion against a United Express provider in an effort to return tens of millions of dollars to the debtors’ estates. Upon emergence, the stock of reorganized UAL was listed on the Nasdaq, traded robustly at prices much higher than initially projected and now trades on the New York Stock Exchange.
United StatesJune 10, 2013
CanadaMarch 19, 2013
The 2013 edition of Chambers USA: America's Leading Lawyers for Business recognizes 32 Dentons practices and 82 lawyers. Recognition for the Firm includes "excellent at representing their clients;" "top-notch firm, very good results with them;" and "always prepared, always accessible, and never fail to deliver." Read more
The World’s Leading Lawyers for Business in the Chambers Global 2013 edition ranks canadian lawyers, Jane Dietrich, Shayne Kukulowicz, David Mann, and John Sandrelli as leading lawyers in the area of restructuring and insolvency. Read moreCanadaNovember 1, 2012
LEXPERT’s Special Edition on Insolvency and Restructuring insert appearing in Report on Business Magazine (November 2012) recognizes Shayne Kukulowicz, David Mann, Ray Rutman, and John Sandrelli among Canada’s leading Insolvency and Restructuring profession Read more
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WarsawOctober 30, 2013
Dentons in Poland: 2012 Activity Report provides insight into our activities during the year. The items in the report illustrate our commitment to top quality service and describe how we navigated legal and business complexities to help our clients achieve their goals. Read moreRestructuring, Insolvency and BankruptcyOctober 11, 2013
This presentation will cover how to protect your organization—and potentially prosper—in a time of rising in interest rates, sequestration and other governmental failures. Read moreRestructuring, Insolvency and BankruptcyAugust 8, 2013
This article was written for Corporate Restructuring and Insolvency by Joe Speakman in Dentons London office. It explains the practical implications of a recent case In Re Aardvark TMC Ltd in which Dentons took a leading role. Read more
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News and Events
Recent Press Releases
Washington, DCNovember 27, 2013
This biennial list of the best legal talent practicing in the nation’s capital has ranked Dentons Health Care and Bankruptcy partners at the top of their fields. Read moreGermanyNovember 25, 2013
Global law firm Dentons has successfully advised Sobera Capital GmbH, a private equity company specialized in transactions on the secondary market, on the acquisition of BayTech Venture Capital GmbH & Co. KG. Sellers are Bayerische Landesbank, Bpifrance and Versicherungskammer Bayern as well as BayernLB Capital Partners. During the acquisition, Sobera Capital was backed by the investment company Unigestion, a leading and independent asset management company. Read moreGermanyNovember 20, 2013
Global law firm Dentons has successfully advised Decor Druck Leipzig GmbH within the context of a protective shield proceeding during the acquisition by a new owner. The insolvency plan drawn up by Dentons on behalf of Decor Druck Leipzig GmbH was unanimously accepted at the creditors’ meeting held on November 14, 2013 and was confirmed by the local court of Leipzig on the same day. Read more
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