Insolvency

Willkie Farr & Gallagher LLP

Client Satisfaction

Willkie Farr & Gallagher LLP has an impressive record of acting for ad hoc bondholders groups and steering committees on some of the most significant recent restructuring transactions in the French market, and also has notable expertise in advising debtors and investors. Among the team’s core areas of strength are distressed LBO workouts, cross-border debt restructurings, and debt for equity swaps, as well as pre-insolvency proceedings, bankruptcy proceedings and distressed M&A. Paris managing partner and European restructuring co-chair Lionel Spizzichino leads the team, bringing to bear extensive experience in complex lender-led and cross-border restructurings. Other key names include Batiste Saint-Guily, whose skill set includes in and out-of-court restructurings, insolvency proceedings and distressed transactions, and Audrey Nelson.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

‘Innovative, creative, responsive and very well connected. It is the best team on the market for restructuring.’
‘The team has a very high level of technical expertise in the procedures of companies in difficulty, but also a deep knowledge of other players in the sector, and recognition of its skills by these players, which saves a lot of time. It also has cross-functional expertise available immediately, always of high quality. The team is also very friendly.’
'Josephine Maire leaves no stone unturned.’
‘Willkie has had an active role in all major French restructurings. Their experience working with various types of creditors has been quite helpful in assessing new situations. I also value their commercial approach to the new restructuring regime, especially as case law and precedents evolve.'
‘Lionel Spizzichino and Batiste Saint-Guily form a team with unmatched quality and technical standards, ability to negotiate and drive positive outcomes, work ethics, and availability. They will leverage their vast personal networks to serve their clients. What sets them apart from other law firms is their exceptional ability to be commercial and look at transactions from the client's point of view, including concerning the mathematical and financial aspects, which is very appreciated and really unique. They are our go-to firm in France.’
‘Excellent restructuring practice in Paris, with a unique angle on foreign creditors and legal documentation under English or US law.'
'Excellent quality of work, especially when there are cross-border transactions, with the ability to mobilise teams in different countries very quickly. Very agile team on the most complex files and in a French framework.’
‘Lionel Spizzicchino has perfect mastery of the French environment and knows how to put himself in the shoes of his Anglo-Saxon clients. He is very commercial and pragmatic and knows how to navigate very complex and sometimes even contentious environments. Batiste Saint-Guily is at the forefront of legal technologies, a 'safe pair of hands' for clients, very thorough and simultaneously able to give strategic directions to obtain the best result for clients.’

Key clients

DE Shaw & Co
Tresidor Investment Management
Boussard & Gavaudan
Syquant Capital
Blackrock
Fidera
AG2R La Mondiale
Schelcher Prince Gestion
M&G Investments
Jupiter Asset Management
Cross Ocean Partners
Carronade Capital Management
Anchorage Capital Group
Carmignac
Eiffel Investment Group
JPMorgan Chase & Co – Global Special Situations
Arrow Global
Colis Privé

Work highlights

Advised DE Shaw & Co, Tresidor Investment Management, Boussard & Gavaudan, Syquant Capital, Blackrock, Fidera, AG2R La Mondiale and Schelcher Prince Gestion as members of the steering committee of the bondholders of Atos SE.
Advised the steering committee of crossholders bondholders on Altice’s debt restructuring.
Advised the steering committee of the unsecured creditors of Casino Guichard Perrachon S.A., holders of New York law high-yield senior unsecured notes and French law euro medium-term notes (total of 3.7bn) as part of its EUR c. 7.5 billion debt restructuring.

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