Europe - France
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Insolvency

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Ashurst LLP

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Ashurst LLP‘s practice spans the full range of restructuring, insolvency and special situations, with a strong emphasis on handling complex mid to large-cap deals, including many of the most sophisticated recent transactions in the French market. In particular, the team has excellent credentials in major cross-border restructurings, including those involving distressed listed companies, and in representing creditors, sponsors and new money providers (especially banks and private equity and hedge funds). Noam Ankri, who is well regarded for his expertise in high-yield bonds in French restructurings, leads the practice. Elsa Decourt is also a key name for cross-border restructurings.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘Very wide range of specialties’

  • ‘I really appreciated the expertise and availability of Noam Ankri, Elsa Decourt and Astrid Hubert-Besnoit.’

  • ‘Solid and close-knit team able to carry out large-scale projects and to intervene alongside creditors in market cases in order to defend their interests both defensively and more offensively when the conditions are right.’

  • ‘Noam Ankri is the conductor. He is the one who leads his team and is in direct contact with customers on difficult negotiation calls. He is particularly attentive to clients and has a good knowledge of the expectations of hedge funds.’

Key clients

  • Boussard & Gavaudan
  • Goldman Sachs
  • Anchorage Capital
  • BlackRock

Work highlights

  • Advising the steering committee of the unsecured creditors of the listed company Casino Guichard Perrachon, namely the French law unsecured notes issued under the company’s EMTN programme maturing in 2024, 2025 and 2026, in connection with the approx. €7 BN financial restructuring of the company.
  • Advised the bondholders' steering committee in the financial restructuring of Atos, which announced the signing of a lock-up agreement setting the terms of its financial restructuring of close to 5 billion euros with the creditors making up the bondholders' steering committee and the group's main banks.
  • Advised Goldman Sachs, ODDO BHF and Boussard & Gavaudan in connection with Solocal's restructuring, which has now opened new mandat ad hoc proceedings to initiate discussions, on a confidential basis, with its financial creditors under the aegis of a court appointed mandataire ad hoc with the view to negotiate the 2020 deal.

Lawyers

Leading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Elsa Decourt
Ashurst LLP
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Noam Ankri
Ashurst LLP

Practice head

The lawyer(s) leading their teams.

Noam Ankri

Other key lawyers

Elsa Decourt, Astrid Hubert-Benoist