CLIFFORD CHANCE

Comment: This firm highly recommended in financial restructuring is developing beyond its typical focus on bank instructions. Its broad setup and integration of experienced counsel protect CC from the current weak market. CC advised management in central cases (e.g. Scholz Recycling, Jack Wolfskin) and according to competitors helped to find viable, consensual solutions. Besides advice to credit institutes/consortia, CC was sought-after for distressed transactions. Here and in liability and insolvency challenges, the firm’s experience with cross-border solutions is a key factor for clients, who are often renowned administrators.
Strengths: Complex international restructuring.
Recommended: Dr. Stefan Sax (“very prominent in the scene, decisive”, competitor).
Practice: Advice on financial restructuring to banks, companies (management) and insolvency administrators; distressed ?M&A; legal challenge and liability aspects. Cooperation with the ?debt issues and structured finance, ?banking and regulatory, ?bank lending and acquisition finance, ?corporate, ?tax and ?commercial litigation and liability practices. (1 partner, 3 counsel, 4 associates)
Clients: ?? Bank of Tokyo-Mitsubishi on restructuring and sale of receivables for Euromar, subsequently Guan Chong in bidding for insolvent Euromar; Jack Wolfskin management on financial restructuring; Davidson Kempner and Deutsche Bank as financers in ATU restructuring; Scholz Holding on cross-border restructuring and sale process in insolvency.
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