Firms To Watch: Insolvency

Led by Alexandra Szekely, the team at boutique firm Le 16 Law is skilled in handling cross-border restructurings and insolvency-related litigation, with strengths in the real estate and digital spaces.
Lille-based boutique M7 Avocats handles the full range of insolvency proceedings and related litigation, as well as financing for distressed companies, under the leadership of Nicolas Nef Naf.
Olivier Debeine joined from CBR & Associés in June 2024 to lead the restructuring practice at PDGB, which advises on everything from recovery plans to insolvency-related litigation and distressed M&A.

Insolvency in France

Darrois Villey Maillot Brochier

Darrois Villey Maillot Brochier strikes a balance between advisory work and litigation, with an impressively broad practice that encompasses restructurings, insolvency proceedings and related litigation, and distressed M&A (including cross-border mandates). Acting for the full spectrum of debtors, managers, shareholders, investors and trustees, the firm has represented parties in many of the most high-profile recent cases in the French market, with particular skill in handling distressed situations involving French-listed companies. Co-managing partner François Kopf, who has a wealth of expertise in special situations that combine restructuring, transactional and litigation elements, leads the team. Mathieu Della Vittoria, whose practice has a strong emphasis on distressed litigation, is also a prominent name to note.

Responsables de la pratique:

François Kopf


Autres avocats clés:

Mathieu Della Vittoria; Colin Marvaud


Les références

‘The experience and realism of the team’s approach are its strengths. Its approach is pragmatic and perfectly informed about the reality of how a commercial court works and how collective proceedings are conducted. The advice is precise and always relevant.’

‘Mathieu Della Vittoria is my main contact. He is extremely responsive, attentive and proactive. His technical knowledge is very high, and his ability to thoroughly understand his case is appreciable.’

Principaux clients

Atos


Greybull Capital LLP


Creditors’ representatives of Orpea


Financière Immobilière Bordelaise (FIB)


JouéClub


Solocal


SNGST


Creditors’ representatives of Getir, Frichti and Gorillas


Court receivers and creditors’ representatives of Rangers Sécurité


CNAJMJ


Mr. Etienne Binant (former CEO of Biom’Up)


Nexatys


Amon estate (SCI Parismon)


Liquidators of Compagnie Aérienne Inter Régionale Express (CAIRE)


Financière Coquebert/Klubb Group


Principaux dossiers


  • Advising Atos in connection with its financial restructuring, initiated through an out-of-court preliminary stage followed by in-court accelerated safeguard proceedings, aiming at restructuring its debt of nearly five billion euros.
  • Advising Financière Immobilière Bordelaise (FIB) and its group in the context of its ongoing in-court insolvency proceedings aiming at adopting various restructuring plans for the companies of the group, covering nearly 1.5 billion euros of claims filed by creditors.
  • Advised JouéClub on the takeover of the “La Grande Récré” toy distribution network previously owned by Ludendo, at the end of a competitive bid process initiated in conciliation proceedings.

De Pardieu Brocas Maffei

De Pardieu Brocas Maffei acts for a diverse client base of distressed companies, their shareholders and creditors, but is particularly recognised for its prowess on the bank side of large-scale financial restructurings, representing pools of major French financial institutions on numerous prominent recent mandates. The team's expertise further extends to insolvency proceedings, corporate reorganisations and distressed transactions. Practice heads Philippe Dubois, who is highly skilled in litigation, and Joanna Gumpelson are well versed in the full range of insolvency proceedings and debt restructurings. The sizeable team also includes Ségolène Coiffet, whose practice spans debt restructuring, insolvency proceedings and transactions involving distressed companies, and Clément Maillot-Bouvier, whose areas of expertise include LBOs.

Responsables de la pratique:

Philippe Dubois; Joanna Gumpelson


Autres avocats clés:

Ségolène Coiffet; Clément Maillot-Bouvier; Guillaume Petit


Principaux clients

PIERRE & VACANCES – CENTER PARCS


TDR CAPITAL


DAMARTEX


METABOLIC EXPLORER


MARIE BRIZARD WINE & SPIRITS


RENAULT


GROUPE SEA INVEST


OAKTREE


FARALLON


KARTESIA


TIKEHAU


GROUPE CREDIT AGRICOLE (CA CIB, LCL, CAISSES REGIONALES)


BNP PARIBAS


GROUPE BPCE (NATIXIS, BRED, PALATINE, CAISSES D’EPARGNE et BANQUE POPULAIRE)


SIENNA AM


GOLDMAN SACHS


SOCIETE GENERALE


EIFFEL


EIB


JP MORGAN


Principaux dossiers


  • Advising a pool of banks comprising 57 institutions belonging to the French banking groups BNP Paribas, BPCE, Crédit Agricole, Crédit Mutuel Alliance Fédérale, La Banque Postale and Société Générale in the context of the €9.7bn debt restructuring of the Orpea Group.
  • Advising a pool of 4 banks in the context of the €125m debt restructuring of Jennyfer, implemented in the context of court-monitored rehabilitation proceedings (with classes of affected parties) and the approval of a rehabilitation plan by the Commercial Court of Bobigny in June 2024.
  • Advising the companies of the Metabolic Explorer group in connection with the safeguard and rehabilitation proceedings and the approval by the Commercial Court of Paris of sale plans and, notably, the takeover of the activities of the Metex Noovistago biochemicals plant and the Metabolic Explorer R&D business by Avril.

Gibson Dunn

Gibson Dunn houses an all-encompassing restructuring and insolvency offering, with the ability to cover the full range of corporate, financial, litigation and employment aspects. In particular, the firm is well regarded for its stellar track record in large-cap financial restructurings and operational reorganisations, including many of the most complex and high-profile cases in France. LBO debt restructuring is a prominent area of expertise. Jean-Pierre Farges, a specialist in cross-border transactions, leads the practice. Pierre-Emmanuel Fender, who is skilled in representing debtors, as well as insolvency practitioners, creditors and investors; restructuring experts Amanda Bevan-De Bernède, Benoît Fleury and Bertrand Delaunay; and employment-focused Nataline Fleury are other key members of the sizeable team.

Responsables de la pratique:

Jean-Pierre Farges


Autres avocats clés:

Pierre-Emmanuel Fender; Amanda Bevan-de Bernède; Benoît Fleury; Bertrand Delaunay; Nataline Fleury


Les références

‘A well-established team with in-depth knowledge of the restructuring world and which offers cutting-edge solutions.’

‘Jean-Pierre Farges always provides excellent advice, knows how to anticipate difficulties and often proposes innovative solutions.’

‘Absolutely reliable – responsive at short notice at all times.’

Principaux clients

A Group of lenders to Atos


Caisse des Dépôts et Consignations


Casino Guichard-Perrachon


Ad Hoc Group of Secured Lenders to Technicolor


Solocal


Celio


Stock J Boutique Jennyfer


GIE Vapiano


Maison Française du Verre


Arc Holdings


Propertimo


Principaux dossiers


Hogan Lovells (Paris) LLP

Hogan Lovells (Paris) LLP is widely recognised for its strength in representing debtors in restructurings and insolvency proceedings, but it is also adept at acting for creditors, with a particular emphasis on assisting financial institutions. The team’s broad client base also covers the consumer and leisure, manufacturing and industrials, and – more recently – real estate, technology, media and telecoms sectors. At the head of the practice, Philippe Druon has excellent experience across the full spectrum of in and out-of-court insolvency proceedings, bankruptcy-related litigation and distressed M&A. Astrid Zourli, who is well versed in acting for both debtors and creditors in complex domestic and international cases, is another noted member of the team.

Responsables de la pratique:

Philippe Druon


Autres avocats clés:

Astrid Zourli; Clémence Droz


Les références

‘The practice is highly competent and works seamlessly with other practices within the firm (e.g., corporate law and banking law), which is a huge plus for us as a customer. Everyone is always ready to go the extra mile to provide support.’

‘My main contact in the insolvency practice has been Astrid Zourli. Astrid is supporting us in a complex situation; she has been able to educate us about the specificities of a legal framework we were not familiar with (not being used to operate on the French market) in a very clear and effective manner, gaining our trust. She is highly competent, well connected in the local ecosystem, which is critical in the French market, and highly referenced.’

‘The team was able to mobilise a range of skills on all the issues encountered during the process with remarkable situational awareness.’

Principaux clients

Ascometal


Belevo Holding Ltd


Chenavari – FIB


Exterion Media (France)/ Giraudy


FHBX


Fisker France SAS


Gietburg


Group REEL – CNIM


ICG Real Estate Investment


Kaporal Group SAS


Risk&Co


ZF Friedrichshafen AG


Principaux dossiers


  • Advising the REEL group on a takeover offer for the assets attached to the “Systèmes Industriels” business line of the CNIM group, which provides high value-added systems for cutting-edge industries such as nuclear, defence and aerospace.
  • Advised Ascometal group for approximately 18 months on its financial and operational difficulties, in relation to the search for and implementation of any restructuring solution for the Ascometal companies.
  • Advising Belovo Holding Ltd on a global takeover offer for the assets attached to the Eugène Perma group, a 100-year-old French group in the cosmetics sector, which employs approximately 250 employees.

Latham & Watkins

Latham & Watkins‘ wide-ranging restructuring and insolvency practice particularly stands out for its significant expertise in distressed LBO workouts and debt-to-equity swaps, share deals, court-supervised asset deals and complex cross-border restructurings. The firm has recently played a prominent role in numerous high-profile financial restructurings, as well as major insolvency proceedings and distressed sales, with a stellar client roster that includes debtors, shareholders, private equity sponsors, hedge funds, bondholders and banks. Experienced practice head Alexandra Bigot has a strong skill set in out-of-court and cross-border restructurings, while other key figures in the team include Hervé Diogo Amengual, whose practice has a notable emphasis on litigation, and Thomas Doyen.

Responsables de la pratique:

Alexandra Bigot


Autres avocats clés:

Hervé Diogo Amengual; Thomas Doyen; Eeva Bernard


Les références

‘Excellent team with Alexandra Bigot and Eeva Bernard. Alexandra is very experienced, understands deal economics and has a practical approach. ’

‘First-class player with the particularity of knowing the international players in London and the US very well.’

‘The team is accessible and very versatile. It knows how to make itself completely available to its clients despite its participation in most of the market’s cases, sometimes all at the same time. The restructuring team can also rely on all the other expertise of the firm, in Paris and abroad, with a responsiveness and consistency in the (very high) quality of service that is extremely rare in the market. Latham is a go-to firm in Paris for restructuring, particularly for the most complex international situations.’

Principaux clients

Accorinvest Group SA


Ad Hoc Committee of Casino TLB Lenders


Alcentra


Apollo Management Ltd


Befesa


Briarwood Chase Management


Carlyle


Farallon Capital


HSBC


iQera


Natixis


Sculptor Capital


Société Générale


Principaux dossiers


  • Advised the steering committee of TLB secured lenders (circa €1.5bn) in the €8bn financial restructuring of Casino, a French food retailer leader employing more than 50,000 employees in France.
  • Advised Briarwood Chase Management in managing its equity and senior debt and participating in the negotiations of the financial restructuring of Technicolor Creative Studios, entered into amicably under conciliation proceedings.
  • Advising iQera, the largest French debt collector, in its financial restructuring.

Weil, Gotshal & Manges LLP

Weil, Gotshal & Manges LLP remains the first port of call for all stakeholders in high-profile financial restructurings, insolvency proceedings and distressed M&A, although it is particularly well known for its in-depth expertise in advising debtors, investors and pools of banks. Core strengths include distressed LBO transactions, the restructuring of French-listed companies and lender-led debt restructurings. In addition, the Paris office frequently draws on the capabilities of teams in the US, UK and continental Europe to handle cross-border mandates. Practice heads Jean-Dominique Daudier De Cassini and Céline Domenget-Morin have been involved in many of the most significant insolvency reorganisations and debt restructurings in France over the last decade. César Puech Routier is also a name to note.

Responsables de la pratique:

Céline Domenget-Morin; Jean-Dominique Daudier de Cassini


Autres avocats clés:

Camille Bretagne; César Puech Routier


Les références

‘Very helpful team with legal and financial skills, as some members have worked in investment banking, which is a significant advantage.’

Principaux clients

Atos


Pool of banks in the restructuring of GiFi


S.E.D.N.A. France


A pool of banks in the restructuring of SAPMER


Groupe Casino


Mutares (Walor)


Principaux dossiers


  • Advised a pool of banks in the restructuring of the financial indebtedness of GiFi and of its shareholder Groupe Philippe Ginestet, combined with the provision of new money to finance the group’s operating needs.
  • Advised EP Equity Investment, which teamed up with Attestor Limited to form a consortium to submit a financial restructuring proposal to Atos, as part of a competitive process organised in the context of Atos’ conciliation proceedings.
  • Advised Casino Group in the discussions with its financial creditors in order to reduce its indebtedness and with a consortium of investors led by Daniel Kretinsky, who made an offer to take over the company.

White & Case LLP

White & Case LLP‘s restructuring practice was significantly strengthened in August 2024 with the arrival of the well-regarded Anne-Sophie Noury, an expert in distressed LBO transactions and cross-border restructurings, from Weil, Gotshal & Manges LLP to lead the department. The firm’s comprehensive offering covers the full range of distressed situations, corporate reorganisations and insolvency proceedings on behalf of creditors, debtors, investors and potential buyers, with the Paris team particularly well equipped to handle major cross-border restructuring deals with the support of the firm’s other international offices. The experienced Saam Golshani and Alexis Hojabr, both of whom are recognised for their expertise in acting for financial sponsors, Alicia Bali and Hugues Racovski are also prominent figures in the practice.

Responsables de la pratique:

Saam Golshani


Autres avocats clés:

Anne-Sophie Noury; Alexis Hojabr; Alicia Bali; Hugues Racovski


Les références

‘One of the best teams in France, present on all market cases. The W&C professionals whom I had the opportunity to work with are excellent, with a perfect understanding of the issues and very good technique.’

 

‘Very professional, international and innovative. They get the deal done.’

Principaux dossiers


Willkie Farr & Gallagher LLP

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.

Responsables de la pratique:

Lionel Spizzichino


Autres avocats clés:

Batiste Saint-Guily; Audrey Nelson; Josephine Maire


Les références

‘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.’

Principaux 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


Principaux dossiers


  • 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.

Ashurst LLP

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.

Responsables de la pratique:

Noam Ankri


Autres avocats clés:

Elsa Decourt; Astrid Hubert-Benoist


Les références

‘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.’

Principaux clients

Boussard & Gavaudan


Goldman Sachs


Anchorage Capital


BlackRock


Principaux dossiers


  • 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.

Bredin Prat

Bredin Prat fields a diverse practice which takes in financial restructurings (including domestic and cross-border mandates), asset sales, insolvency proceedings and related litigation. The team is equally adept at advising distressed companies, shareholders, creditors and investors, with particular strong suits in the construction, financial services, energy, media, technology and leisure sectors. Highly experienced practitioners Olivier Puech, who has standout expertise in insolvency proceedings, particularly the judicial aspects and related litigation, and Nicolas Laurent, who focuses primarily on amicable proceedings relating to financial restructurings and on representing debtors or bidders in insolvency proceedings, oversee the team.

Responsables de la pratique:

Olivier Puech; Nicolas Laurent


Principaux clients

Acciaierie Venete


Airbus


Allianz Direct


Courtepaille


CroisiEurope


Damartex/Despature Family


Eramet


Exterion Media France (Giraudy)


Flink


Genomic Vision


Glencore


Marcegaglia


Medicharme


Potel & Chabot


Sapmer


Technicolor Group


Principaux dossiers


Clifford Chance

Clifford Chance‘s strong suit lies in complex, multi-jurisdictional restructuring and insolvency proceedings, with the Paris office able to draw upon the expertise of teams around the globe. Under the leadership of the experienced Delphine Caramalli, the team acts for a diverse client base of domestic and international investors, private equity funds, hedge funds and other lenders, shareholders and buyers, covering the full range of financial restructuring processes, consensual and judicial insolvency proceedings (particularly preventive procedures for ad hoc mandates and conciliation), and distressed M&A. The team also draws on the support of new arrivals Arnaud Fromion and Frédéric Guilloux, who joined the wider global financial markets practice from Goodwin at the end of 2024, and specialise in leveraged finance with a focus on restructuring.

Responsables de la pratique:

Delphine Caramalli


Autres avocats clés:

Arnaud Fromion; Frédéric Guilloux


Les références

‘Excellent restructuring team: innovative technical skills, always available and very good strategic vision’

‘Professional, innovative and attentive.’

‘Delphine Caramalli is excellent’

Principaux clients

Réside Etudes Group


Masteos


ING Bank


Andera Partners


Getir BV


Macnica


Amiral gestion


Interpath


Aether Financial Services


Lessors of Lion Air’s fleet including: Carlyle, Dubai Aerospace, Macquarie, Aergo, BOC Aviation, Aercap, SMBC, Altavair


Altream


Raiffeisenlandesbank Oberösterreich


Ligue Professionnelle de Football


Principaux dossiers


  • Advised the group of TSSDI note holders, including major pension funds and family offices, as part of the financial restructuring of Groupe Casino.
  • Advised lenders including ING Bank, Mediobanca and an ad hoc committee of international banking Taiwanese institutions Schuldschein lenders, as part of the high-profile restructuring of Orpea
  • Representing worldwide the Turkish group Getir in a formal bid process launched by the court-appointed judicial administrators that may either result in the sale of the companies’ assets or their liquidation.

Freshfields Bruckhaus Deringer LLP

Freshfields Bruckhaus Deringer LLP stands out for its strength in complex, cross-border restructurings, bringing together expertise in corporate, finance, litigation, compliance and competition law. The team is well versed in advising on both in and out-of-court restructurings, as well as on the acquisition of distressed assets, acting for a varied client base of debtors, buyers, creditors and shareholders. The team is led by seasoned practitioners Guilhem Bremond, a prominent adviser to French and international clients in relation to restructurings, insolvency litigation and distressed investments, and Laurent Mabilat.

Responsables de la pratique:

Guilhem Bremond; Laurent Mabilat


Autres avocats clés:

Antoine Rueda; Marie Roche


Les références

‘Very available and always make sure to acquire a great knowledge of the cases they handle and the business of the companies they assist. This makes them particularly relevant and effective in their assistance.’

‘Guilhem Bremon has my full confidence (and that of my management). Fine in his approach, skilled in making compromises and yet firm on the essentials.’

‘Very good understanding of strategy and excellent case management’

Principaux clients

CACIB Crédit Agricole Corporate & Investment Bank


BNP Paribas


Crédit Mutuel Alliance Fédérale


Natixis


Société Générale


Novi 2, represented by Eurazeo Investment Manager


Groupe Eugène Perma


Ydeo


Principaux dossiers


  • Advising the Casino Commercial Banks in relation to their holdings under Casino Guichard-Perrachon’s €2.05bn RCF in the context of the CGP group’s restructuring, implemented through a French sauvegarde accélérée process.
  • Advising Novi 2 in the context of litigation relating to the date of insolvency (date de cessation des paiements) of Remade group and Remade.
  • Advising Eugene Perma in connection with its €75 million debt restructuring and a disposal of interests.

Jones Day

Noted for the broad scope of its practice, Jones Day's restructuring and insolvency team has significant experience of advising the full range of debtors, sponsors and lenders (including traditional banks as well as alternative lenders such as private equity firms, asset managers and funds). The firm is adept at handling complex restructuring deals and insolvency proceedings, related litigation and distressed M&A, with particular strength in cross-border matters. Fabienne Beuzit, a key adviser on high-profile restructuring and insolvency cases both in France and internationally, heads the practice, while Rodolphe Carrière provides capable support.

Responsables de la pratique:

Fabienne Beuzit


Autres avocats clés:

Rodolphe Carrière


Les références

‘The restructuring team, with several highly experienced professionals, is fully committed to the largest cases, while providing the same level of service in lower-stakes cases. Furthermore, this team is very well integrated into this international firm and can count on the support of the excellent financial markets team in the most complex restructuring situations of listed companies.’

‘Rodolphe Carriere knows how to make himself very accessible and efficient. He has great expertise in both financial and legal restructuring and makes sure to leave nothing to chance. He has many connections (lawyers, banks, judicial administrators), in Paris, in the regions and internationally, which often allow him to facilitate communication.’

‘The team provides tailor-made solutions to the problems raised.’

‘Excellent engagement, advice and support.’

‘Fabienne Beuzit is one of the best lawyers I have ever worked with.’

Principaux clients

Bank Of China / ORPEA


Scotch & Soda


Tikehau Capital / SECAN


SAS Pôle Hospitalier Privé


The Body Shop France


Cytoo


Electrolux


GOJO Industries Inc.


Natixis / Monoprix Exploitation


Principaux dossiers


Linklaters

Linklaters houses a broad restructuring and insolvency offering, ranging from pre-insolvency proceedings through to liquidation, although it has a particularly strong record in complex, high-profile financial restructuring deals. The firm’s client base is equally extensive, including debtors, creditors, sponsors, shareholders and managers (with notable expertise in advising funds). Expert in cross-border financial and operational restructurings Carole Nerguararian is a key member of the team. Former practice head Aymar De Mauléon left the firm in 2025.

Responsables de la pratique:

Carole Nerguararian


Autres avocats clés:

Etienne Lupuyo


Les références

‘Very good management of long-term projects’

‘Carole Nerguararian: Excellent communication skills, both in terms of clarity and responsiveness; high ability to deal with complex legal matters; also strong in terms of strategic thinking; “let’s do this” spirit.

‘Highly responsive and proactive on the most sensitive issues’

Principaux clients

Intermarché


Montagu


Walor International


French Ministry of the Economy (acting through CIRI, its special situation team)


IDI


Sienna AM France (formerly Acofi Gestion) and Locamod Chantiers


Sienna AM France (formerly Acofi Gestion) and LGR LOG


Luko Insurance AG


Sienna AM France (formerly Acofi Gestion), EP SPV, and FHB Fiducie


European Investment Bank


Talisman Brands Inc. Established.


Principaux dossiers


  • Advising Groupement Les Mousquetaires (Intermarché) on the acquisition of 100+ supermarkets of the Casino group in France, with a potential extension option (matter value: total turnover of €1.6 billion), as part of the global restructuring of the Casino group.
  • Advising Montagu, shareholder and creditor of the Aqualung group (a company specialised in aquatic sports and underwater equipment production), in its 2 rounds of amicable financial restructuring and its sale process to one of its creditors, Barings.
  • Advising the Walor group in various restructuring processes through two ad hoc mandates and two conciliation proceedings, to enable the takeover of the group by Mutares, the restructuring of more than 60 million euros of debt, the industrial transformation and the shutting-down of two factories.

Mayer Brown

Mayer Brown established its dedicated restructuring practice in October 2024 with the arrival of seasoned practitioner Marc Santoni and his team from restructuring boutique Santoni & Associés, consolidating an alliance between the two firms that began in 2022. The team has extensive experience in advising debt funds and corporate creditors on debt restructurings, especially LBOs and in relation to government-backed loans; assisting with insolvency proceedings; and handling the takeover of companies in receivership. Santoni is well regarded for his skill in advising on the restructuring of French companies and assisting investment funds with distressed acquisitions.

Responsables de la pratique:

Marc Santoni


Autres avocats clés:

Soleine Gautier


Principaux clients

Beaumanoir Group


Comexposium – Cassini


Farinia


Fidera


Polygon


SETFORGE Société Nouvelle


ADVANT Altana

ADVANT Altana‘s practice runs the gamut of restructuring and special situations, including financial and operational restructurings, distressed M&A, related litigation and the restructuring of regulated entities. Supported by the firm’s offices in Italy and Germany, the Paris team is also adept at handling cross-border cases. Pierre-Gilles Wogue, an expert in advising distressed companies with an international dimension, Michel Jockey and Mana Rassouli, who has wide-ranging expertise in advising debtors, shareholders and investors on restructurings, jointly lead the experienced team.

Responsables de la pratique:

Pierre-Gilles Wogue; Michel Jockey; Mana Rassouli


Autres avocats clés:

Julien Balensi


Les références

‘The ADVANT ALTANA team is remarkable for its skills and its ability to build a winning strategy. Their advice is extremely relevant. It is a very reassuring presence in the negotiations and throughout the procedure. Its dynamism enables us to achieve results very quickly.’

‘Mana Rassouli is an expert in her field.’

‘Mana Rassouli has shown a wide expertise & in-depth knowledge in French insolvency provisions & proceedings which was of utmost importance to define our strategy / tactics in our continuous discussion with our most relevant French CMO.’

‘Mana was able to provide sound & competent advice which was well understandable to the non-lawyer audience as well.’

‘It’s a big team, both in terms of numbers and experience.’

‘Mana Rassouli is an outstanding technician in the field, combining her excellent technical expertise with a perfect knowledge of the ‘network’ and a very sure grasp of litigation and other related and peripheral matters. She has an enormous capacity for work, and is quick to master operational and technical issues. Mana is deeply committed to her clients’ interests and systematically goes the extra mile to meet their expectations.’

Principaux clients

Aldi


Altarea


Apogee (HP) Group


Bastide


Blive Group


Bloom Equity Partners


Covea


Defta


Eurobail Group


Groupama


Groupe Figaro


Ivanhoe Cambridge


Natixis


Ommic


Samsung Electronics France


Science Corp Inc.


Secom


Sirob Group


Teract (InVivo group)


Vakif Bank


Principaux dossiers


  • Advising Science Corporation Inc on the acquisition of the activities and assets of Pixium Vision SA, through a competitive open bid under a judicial liquidation process.
  • Advising Bloom Equity Partners, a major American investment fund, in the context of the takeover of the Black Tiger Group, publisher of a master data platform, which includes the financial restructuring of the French subsidiary of the group.
  • Advising Covea Group in the restructuring and sale process of CGI Batiment, which encountered severe difficulties in late 2023 due to the failure of Geoxia/Maison Phoenix Group, which led it to present in 2024 a preventive restructuring plan to the regulatory authority, with the support of the shareholders.

A&O Shearman

A&O Shearman's Paris office is frequently called upon to advise on complex domestic and cross-border restructurings, benefitting from the firm's global presence and the expertise of its finance, M&A, litigation, real estate and tax departments. The team acts for a wide range of debtors, creditors, shareholders and investors, with particular skill in representing financial institutions, including major French banks. Hector Arroyo, who is qualified to practise in France, England and Wales, and Brazil, leads the team.

Responsables de la pratique:

Hector Arroyo


Autres avocats clés:

Julien Roux; Antoine Santoni


Principaux dossiers


August Debouzy

Demonstrating notable strength in sectors such as sport, retail and transport, August Debouzy‘s restructuring and insolvency team pulls together expertise in tax, M&A, corporate, finance and employment law to cover all aspects of complex restructurings (including cross-border mandates). The team has a strong emphasis on advising debtors and shareholders, but has recently been increasingly active in acting for investment funds involved in takeover bids. Laurent Cotret, who is particularly skilled in advising on debt restructuring, oversees the practice.

Responsables de la pratique:

Laurent Cotret


Autres avocats clés:

Clément Quernin; François Retif,


Les références

‘Laurent Cotret and his team occupy a unique position in the business law market thanks to their unrivalled mastery of our exceptionally complex cases. They are involved in issues with multiple legal stakes, often marked by complex and strategic battles. Far from simply providing advice, the team takes full ownership of each of our cases, ensuring rigorous, personalised follow-up that is always in step with developments in the legal processes that affect us. Their precise management of deadlines and schedules, as well as their ability to navigate complex, multi-jurisdictional legal environments, are essential assets for us. This team also stands out for its innovative approach, whether in the use of new technologies to optimise the management of our files or the flexibility of billing adapted to our needs. They are our benchmark firm and our exclusive choice for managing our most complex cases.’

‘Since he first became involved in our cases, Laurent Cotret has immediately grasped the issues and made them his own with remarkable skill. His determination and methodical approach to complex issues make him an essential pillar in the management of our cases. What also sets him apart is his ability to speak the same language as management. Unlike most lawyers, who are often rooted in the technical, Laurent understands the real needs of our management, anticipates expectations and proposes concrete, tailored solutions, all with a clear, agile vision. Laurent is both a pragmatic visionary and a pillar of trust. He anticipates future challenges with foresight, while proposing concrete, achievable solutions.’

‘François Retif, an associate of Laurent Cotret, works on our complex projects in perfect harmony with our expectations. His precision, attentive listening, availability and responsiveness are at the heart of his approach. He is remarkably efficient, mastering our cases with unfailing rigour. Adaptable and proactive, François anticipates the issues at stake and takes on each new element of our complex cases with brio and mastery. François is a committed perfectionist who is always ready to listen and take on new challenges with rigour and confidence.’

Principaux clients

Esprit de Corp France


Coral Reef Capital


La Berrichonne Football


Nobel Santé Plus


People & Baby


Fred


Alteo


CIPIM / Collectivité de Saint-Martin


Galeries Lafayette


Shellac (Ordonneau)


Bloom Equity Partners


Antares (Agatha)


Jogo Bonito Group


WeWork


CCI Brest


Adveo France


Keria


Pizza Hut Europe


Principaux dossiers


  • Assisting Esprit de Corp France, a subsidiary of the international fashion brand Esprit Group, in managing its financial difficulties and navigating the insolvency proceedings initiated against the company.
  • Assisting Coral Reef Capital, a New-York based private investment firm with a focus on the energy, materials and business & industrial services sectors, in its project to take over Metalliance as part of its disposal plan.
  • Assisting La Berrichonne de Châteauroux, a historic and iconic French football club, in securing necessary financing for the 2024-2025 season.

BDGS Associés

BDGS Associés has expertise across the board of financial and industrial restructurings, insolvency-related litigation and distressed M&A, but focuses primarily on mid and large-cap restructurings, including complex cross-border transactions and cases with involvement from the French state. The team is skilled in advising debtors, shareholders and investors, with additional experience on the creditor side. Henri Cazala, who has significant experience in major financial and operational restructurings (both in and out-of-court proceedings) and distressed investments, leads the practice.

Responsables de la pratique:

Henri Cazala


Autres avocats clés:

Laurène Boyer; Diane Vié


Les références

‘The team is methodical and rigorous, yet highly responsive. Every stage of a takeover seems easy. The advice we give is based on past cases experienced by the team, who have a wealth of experience. The ‘start-up’ way of working, from which I come, has been mastered.’

‘I worked with Henri Cazala and Diane Vié. Excellent personal relations and ability to spot promising entrepreneurs.’

‘Very good team with a very strong network.’

‘The team was very involved from start to finish in the process of assisting a takeover before the court. Constant availability, day and night… proactivity, attention to detail, adaptability to customer needs, high level of professional awareness, irreproachable ethics, independent advice. A tailor-made service!’

‘The BDGS restructuring team is of a very high calibre, among the top ten on the market, while remaining easily accessible. Henri Cazala and his team are a pleasure to work with.’

‘I’ve been working with Henri Cazala for several years now. He has a remarkable ability to understand the challenges of our operations and to find solutions in difficult situations. He is a trusted partner.’

‘We worked predominantly with Henri Cazala and his team who included other experts e.g. from finance where appropriate. The team combines in depth expertise in insolvency law with 24/7 accessibility and a very service oriented approach. The team guided us through very difficult negotiations with receivers and the French State. Any statements or drafts were sent to us within the agreed time. ’

‘BDGS is one of the key players in the market, and one that we come across when we’re working on major projects. They are a leading firm in strategic situations, with a formidable network. The team is both accessible and easy to talk to.’

Principaux clients

Accor


Agence des Participations de l’Etat


Butler Industries


Caisse des Dépôts et Consignations


Canal+


Corsair


Crédit Agricole Assurances


Eiffel Investment Group


Intercountry


IQ-EQ


LNA Santé


Mutares


Raise Impact


Sika


SNCF


Swiss Steel Group


Principaux dossiers


  • Advised Butler Industries, a French investment fund and a global industrial player, as part of the investment contemplated by the consortium formed by Onepoint, Butler Industries and Econocom for the financial restructuring of Atos, within the framework of conciliation proceedings opened by the Nanterre Commercial Court.
  • Advised Swiss Steel Holding A.G., in its capacity as sole shareholder of the Ascometal group, as part of (i) the exclusive negotiations for the sale of several production sites of Ascometal in France, and (ii) the judicial reorganization proceedings opened by the specialised commercial chamber of the Strasbourg tribunal judiciaire.
  • Advising Crédit Agricole Assurances on the financial action plan announced by Clariane, a listed company on Euronext Paris, to strengthen its financial structure, strongly supported by its main shareholder CAA.

Bird & Bird

Advising creditors and stakeholders is the central pillar of Bird & Bird‘s restructuring and insolvency practice, which has a particularly strong emphasis on representing pools of banks in large-scale financial restructurings. The team is equipped to handle the full range of in and out-of-court proceedings, refinancings and insolvency-related litigation. Nicolas Morelli, who has significant litigation expertise, and Romain de Ménonville, who is well versed in debt restructurings, especially distressed LBOs, lead the team. Finance partner Jessica Derocque is also noted.

Responsables de la pratique:

Nicolas Morelli; Romain de Ménonville


Autres avocats clés:

Jessica Derocque; Céline Nézet; Jean-Pierre Chenard


Les références

‘Complementary and available team. Very responsive and able to make suggestions. Very good understanding of what is expected.’

‘Excellent relationship with Romain de Ménonville and Pierre-Jean Chenard, contacts with other team members are more occasional but take place in a climate of trust and efficiency.’

‘A team that listens to customers’ needs, is very available, fast and flexible. The team also knows how to move forward autonomously and provide concrete solutions as well as the alternatives available.’

Principaux clients

Arkéa Banque Entreprises et Institutionnels


Barclays Bank PLC


BNP Paribas


Bred Banque Populaire


Banque Européenne d’Investissement


Crédit Lyonnais


Fosun


Groupe Crédit Agricole


La Banque Postale Asset Management


Société Générale


Etat Français / French State


Banque Palatine


Bpifrance


Banque Populaire


Caisse d’Epargne


Crédit Coopératif


Crédit Industriel et Commercial


Goldman Sachs


Banco de Sabadell


Banco do Brasil


KBC Bank


HSBC Continental Europe


La Banque Postale


Natixis


Neuflize OBC /ABN AMRO


Renault Group


Unicrédit


UPS France


Praemia Healthcare


Principaux dossiers


  • Advised HSBC Continental Europe, Arkéa Banque Entreprises et Institutionnels, Bpifrance, KBC Bank N.V, Banco do Brasil AG, Banco Sabadell SA et Unicredit on Orpea’s debt restructuring through both out-of-court restructuring proceedings and “new regime” accelerated safeguard proceedings (restructured debt amounting to €9bn).
  • Advised Bred Banque Populaire on Casino-Monoprix’s debt restructuring through both out-of-court restructuring proceedings and “new regime” accelerated safeguard proceedings (restructured debt amounting to €6bn).
  • Advised Société Générale, BNP Paribas, Crédit Lyonnais, Bred Banque Populaire, Banque Populaire Rives de Paris, Bpifrance on GPE’s group debt restructuring (restructured debt amounting to €100m, 2,850 employees).

CMS Francis Lefebvre

Acting for a wide array of debtors, investors, shareholders and creditors, CMS Francis Lefebvre is able to cover all aspects of restructuring and insolvency proceedings, including cross-border cases. In addition, the team has continued to expand its expertise in distressed M&A. Alexandre Bastos leads the team, and has a strong all-round practice that ranges from preventive procedures to restructurings through safeguard and receivership plans and insolvency-related litigation.

Responsables de la pratique:

Alexandre Bastos


Autres avocats clés:

Guillaume Bouté


Les références

‘Experienced and available.’

‘Guillaume Bouté: calm, thoughtful, experienced and provides good advice.’

Principaux clients

ALLIANCE GREEN SERVICES


ALGONQUIN FRANCE HÔTEL SERVICES


SODIAAL and its affiliates


UCPA


ATRADIUS


NAGRAVISION


ATOS


BPCE GROUP (NATIXIS – CEGC)


POLARIS


VIVALTO


HILTON


MUTARES SE & Co. KGaA


Principaux dossiers


  • Advised Alliance Green Services, a subsidiary of ArcelorMittal group, within the framework of the takeover of the activity of Phoenix Services France, a key services provider for the ironmaking industry market, and the subsequent appeal against the judgment adopting the transfer plan.
  • Advised Atradius, a credit-insurer, within the framework of the successive conciliation proceedings and the subsequent insolvency proceedings of CNIM, a worldwide renowned industrial equipment supplier and assembler, under the aegis of the Interministerial Committee for Industrial Restructuring (CIRI).
  • Advised Nagravision (Kudelski Group) within the framework of the difficulties faced by SmarDTV Global and SmarDTV Technology under French insolvency proceedings and during the disposal of their activities within the framework of disposal plans adopted by the Commercial Court of Marseille.

FTPA

FTPA is well versed in representing debtors, takeover entrepreneurs and shareholders in relation to operational and financial restructurings, covering everything from corporate reorganisations and special situations to restructurings, the acquisition of distressed assets and cross-border insolvency proceedings. The experienced team is overseen by Edouard Fabre, an expert in advising court-appointed administrators, and Romain Lantourne, whose practice spans restructurings, insolvency proceedings and related litigation, while Serge-Antoine Tchekhoff and Bruno Robin also lend their expertise.

Responsables de la pratique:

Edouard Fabre; Romain Lantourne


Autres avocats clés:

Serge-Antoine Tchekhoff; Bruno Robin; Johan Akrout


Les références

A very pleasant team to work with’.

‘Romain Lantourne is very easy to work with: he knows how to work well as part of a team with all the people he deals with, and doesn’t hesitate to find innovative solutions for his clients.’

‘A lot of imagination.’

‘Strong commitment from lead partner Romain Lantourne, a high capacity for technical analysis, a calm approach to negotiations, while retaining the ability to be firm when necessary.’

Principaux clients

SCP BTSG (court appointed receivers)


Selarl Ajassociés (court appointed administrators)


Altead Group’s former directors


Finotel


Atradius


Caire (Air Guyane & Air Antilles)


Ibisler Tekstil


Principaux dossiers


  • Advising AltéAd’s former directors in all matters regarding the group insolvency proceedings and related litigation.
  • Assisted Airline Caire (operating Air Antilles/Air Guyane) in restructuring its financial debt from the Covid period as part of an amicable procedure.
  • Assisting the court appointed administrator in the insolvency proceedings of two groups of 12 companies holding five hotels in Paris in the context of shareholders’ litigation, helping the company to submit a rehabilitation plan.

Herbert Smith Freehills LLP

Herbert Smith Freehills LLP‘s restructuring and insolvency team is distinguished by the strength of its creditor-side practice, with robust experience of representing pools of French and international banks in complex, multi-jurisdictional cases. The team is particularly skilled in debt restructurings, although its workload extends to insolvency-related litigation and the disposal of distressed assets. Pauline Bournoville, a specialist in corporate debt restructuring, insolvency and bankruptcy proceedings, leads the practice.

Responsables de la pratique:

Pauline Bournoville


Principaux clients

Banque Fiducial


BNP Paribas Group


BPCE/Natixis Group ( including several entities such as Banque Palatine, Banque Populaire Alsace Lorraine Champagne, Caisse d’Épargne Grand Est Europe, Caisse d’Epargne et de Prévoyance Grand Est Europe, Caisse d’Epargne CEPAC, Caisse d’Épargne Centre Est, Caisse d’Epargne Rhône Alpes (CERA), Caisse d’Epargne Loire Champagne, Caisse d’Epargne Ile de France (CEIDF))


Crédit Agricole Group (including several entities such as Crédit Agricole d’Ile-de-France, Crédit Agricole Alpe Provence, Crédit Agricole Provence Alpes Côte d’Azur, Caisse Régionale de Crédit Agricole Mutuel Centre Loire)


Commonwealth Bank of Australia


ENGIE Group


FRENCH STATE (Délégation Interministérielle aux Restructurations d’Entreprises)


Groupe Chargeurs


HSBC Continental Europe


Principaux dossiers


  • Advised a pool of banks as lenders in the context of conciliation proceedings, under the supervision of the CIRI, leading to the restructuring of the debts of a French company (Promod) operating in the retail sector (restructured financial debt of around EUR 114 million).
  • Advised the pool of banks as bondholders on the restructuring of their bonds (EUR 40 million) within the context of the conciliation proceedings of Atos.
  • Advised the pool of banks as lenders in the context of conciliation proceedings, under the aegis of the CIRI, leading to the restructuring of the debts of a French company operating in the manufacture of textiles and technical materials (Porcher Industries).

Jeantet

Jeantet has wide-ranging expertise in restructuring and insolvency matters, from mandat ad hoc and conciliation proceedings to safeguard, reorganisation and liquidation proceedings, insolvency-related litigation and the carve-out and acquisition of distressed companies. The varied workload is matched by the firm’s ability to act for all stakeholders, including debtors, creditors, investors and purchasers, and court-appointed administrators. Laïd Estelle Laurent, who is experienced in both domestic and cross-border cases, heads the team. Aymar De Mauléon joined the team in 2025.

Responsables de la pratique:

Laïd Estelle Laurent


Autres avocats clés:

Aymar de Mauléon


Les références

‘Laïd Estelle Laurent is extremely responsive and has a very good knowledge of her field and the players in it. My clients have always thanked me for recommending her to them.’

Principaux clients

Group of Schuldschein instruments’ lenders in the Orpea case


FB Capital


Yamaha motor


DEMETER


Riverfort Global Opportunities PCC Ltd


Max Plus Group (BCR France holding, Alain Declercq, L3P and Stock Plus)


Casa systems SAS


Power sport distribution


Victoires Haussman SGP


Kawasaki Kisen Kaisha (K Line)


Berger international


Me Gautier & Me Martinez as court-appointed judicial administrators of Group Max Plus Companies


Prisma Media


Principaux dossiers


McDermott Will & Emery AARPI

McDermott Will & Emery AARPI acts for a growing roster of debtors, buyers, creditors and shareholders in complex distressed situations, with experience spanning financial and operational restructurings, insolvency proceedings and related litigation. In particular, the team is able to draw on firm-wide expertise in the private equity space to advise funds on the acquisition of distressed assets. Practice head Timothée Gagnepain is a high-profile name for French and international restructurings and insolvencies, while Théophile Jomier is also a key member of the team.

Responsables de la pratique:

Timothée Gagnepain


Autres avocats clés:

Théophile Jomier; Lucille Madariaga


Principaux clients

GiFi


Bio C Bon


TriplePoint Capital


BioSerenity


Mecalac


Abenex (Premista)


Voyager Digital


US Bank Trustee (iQera)


Principaux dossiers


  • Advised the GiFi Group, a major retailer of home and family products (turnover of €1.3 billion), as well as its shareholder GPG, on managing the economic consequences of a complex ERP transition.
  • Advised U.S. Bank Trustees Limited/iQera, a French leader in management and debt repurchase, which has been facing significant capital structure challenges due to high interest rates, with €100 million debt due.
  • Advised Groupe Mecalac, a construction engine manufacturer, in its restructuring, securing with Mecalac’s banks a €12m bridge loan and a rescheduling of circa €60m worth of debts.

Orrick

Orrick‘s restructuring and insolvency team continues to be instructed on high-profile mandates by a variety of debtors, creditors and other stakeholders, with a particularly strong emphasis on acting for clients in the private equity and financial services spaces. Able to work closely with the firm’s international offices, the team is also a preferred choice for cross-border matters. Aurélien Loric, a go-to adviser on both amicable and judicial insolvency proceedings, leads the practice, while François Wyon provides key support.

Responsables de la pratique:

Aurélien Loric


Autres avocats clés:

François Wyon; Florent Lewkowicz; Elodie Tancray; Margaux Romano


Les références

‘The team was responsive and professional, providing excellent advice and strong negotiating skills. We benefited from the Group’s multi-jurisdictional services (restructuring, financing, corporate, competition, tax).’

‘The whole team was very approachable, at every level of seniority.’

Aurélien Loric – Strong involvement, mastery of the key points of the case, and a strong ability to grasp solutions.’

‘Orrick’s distressed business team is rising strongly in the restructuring market. It is a highly specialised team that can handle cases in a perfectly methodical way, conceding as little as possible on the merits. The teams have been working together for a long time and you can see that in the execution, which goes very smoothly. They have a very good ability to grasp the issues in their entirety and to build momentum into their work.’

‘Aurélien Loric is the lead partner on all restructuring issues. He’s a hard worker who doesn’t let anything get past him and gives his clients a great deal of security. He is particularly well-suited to handling difficult negotiations and is much appreciated by his growing number of clients, both from the institutional community and hedge funds. François Wyon shows great intellectual agility and a perfect understanding of the issues’.

‘Reactivity on issues, putting them into perspective within a legal and business dynamic, ability to create links between the different parts of a case.’

‘This team stands out for 1) its mastery and rigour of the highest order, and its attention to detail; 2) its ability to anticipate both strategically and tactically, combined with a high level of responsiveness; 3) its ability to work as a real team, within which information flows smoothly regardless of who you’re dealing with.’

‘Aurélien Loric – exceptional: mastery of every detail, strategic and tactical vision that creates key moments that benefit the client, the ability to defend a strong conviction in the face of various pressures, a manager who knows how to value and develop the skills of his team.’

Principaux clients

Alcentra


Anchorage Capital Group


Attestor Limited


Boussard et Gavaudan


Carmignac


Davidson Kempner


Ycor


DIIS Group


DNCA


Ecofi


Eiffel Investment Group


Fidera


Financière Arbevel


Schelcher Prince Gestion


Zencap Asset Management


CIC Private Debt


Artemid


Klesia Finance


Principaux dossiers


  • Acted as advisor to a steering committee composed of five French and foreign financial institutions, itself coordinating a wider pool of unsecured creditors representing a total of c. €2 billion of unsecured debt in the financial restructuring of Orpea S.A.
  • Acted as advisor to a group of secured creditors, including Attestor Limited and Davidson Kempner, in the financial restructuring of Casino Group implemented in accelerated safeguard proceedings.
  • Advised Ycor (the family office of Maurice Lévy, former CEO of Publicis) on the financial restructuring and takeover of Solocal in the context of conciliation proceedings and accelerated financial safeguard proceedings.

Paul Hastings LLP

Paul Hastings LLP rebuilt its restructuring practice in May 2024 with the arrival of Caroline Texier, who brings to the table strong expertise in insolvency proceedings and debt restructuring, and her team from DLA Piper. The group is well equipped to advise debtors, buyers, creditors, shareholders and investors on major French and cross-border restructurings and the acquisition of distressed assets, with particular skill in the private equity and real estate sectors (benefitting from the wider firm’s capabilities in these areas).

Responsables de la pratique:

Caroline Texier


Autres avocats clés:

Maxime Nativelle


Les références

‘Availability, efficiency, gentle approach and well-roundness. Essential for restructuring.’

‘Experienced in mid and large-cap and international cases, Caroline Texier’s team is comfortable with both amicable and legal restructuring, and has experience in numerous CIRI cases.’

‘Caroline Texier is both forceful and flexible in negotiations and very rigorous on a technical level.’

‘The team is very good technically and pragmatic. Always fair in negotiations.’

‘Caroline Texier is very technically skilled and handles both amicable and collective procedures. She is responsive, available and pragmatic in negotiations.’

‘Caroline Texier stands out for her strong restructuring skills, ability to take charge of all facets of a case, excellent network to best prepare her cases and exemplary ethics.’

Principaux clients

CAM-SPC (Manoir Group)


GPE


MA France


Artec Groupe


Gap


LMLD (Nysa)


Blackstone (Pharmacie Bailly)


IHG Hotels & Resorts


Covéa


Investec Bank


Stripe


Principaux dossiers


Peltier Juvigny Marpeau & Associés

Peltier Juvigny Marpeau & Associés is frequently called upon to advise companies in financial difficulties on pre-insolvency and insolvency proceedings, and is also adept at assisting creditors (most notably investment funds, banks and financial institutions) and investors in distressed businesses. The team also has a strong suit in representing insolvency practitioners in related litigation. Practice head Nicolas Partouche is well versed in amicable and judicial insolvency proceedings and related disputes. Julie Cavelier is also a key name to note.

Responsables de la pratique:

Nicolas Partouche


Autres avocats clés:

Julie Cavelier


Les références

‘We used PJM because of their reputation as a market leading insolvency practice in France. We needed French law insolvency and restructuring advice in relation to a matter concerning a UK pension scheme and the impact of a restructuring exercise by the French parent on the UK scheme. The quality of the team is outstanding and they provided – and continue to provide – exceptional advice to our client. They are commercial, pragmatic, know the industry and the key individuals very well, and that has provided our client with huge comfort, knowing we have the best in the business in our corner.’

‘Nicolas Partouche: outstanding and has provided high quality advice to my client in the UK, educating them on French insolvency proceedings and guiding the client through the process in a way that has resulted in a very positive outcome for the client.

‘Nicolas is an exceptional lawyer. His advice is clear and pragmatic, and he understands the commercial context brilliantly. Most impressive of all was his ability to grasp equally complex English law – and in particular pensions law – and the role of the different parties, including government bodies, and provide tailored, relevant advice at all times. He is hugely impressive.’

Principaux clients

Avril


La Barbe de Papa


Travelsoft


Groupe Franprix


AXYME


Groupe Monoprix


Dometvie Group


SELARL C. BASSE


Miquel Aras & Associes (Michaël Aras) and SELARL Yvon Perin et Jean-Philippe Borkowiak (Yvon Perin) for Camaïeu


Ello Managers


SELAFA MJA


SCP BTSG2


Mr. Thierry Gloriès


B. Gnecchi


SELARL Asteren


Principaux dossiers


  • Advised Avril, one of France’s leading agribusinesses companies, on its acquisition of Metex’s activities and assets, as part of a sale plan under insolvency proceedings.
  • Advising Barbe de Papa, a group of 6 companies specialized in the business of hairdressing and barbering salons under the “La Barbe de Papa” brand, on the opening and conduct of safeguard proceedings for the preparation of a recovery plan with classes of affected parties.
  • Advised Monoprix and Franprix in their relations with their franchisees (Group Onyx) subject to insolvency proceedings on the acquisition of their activities and assets, as part of a sale plan.

PLM Avocats

Dedicated insolvency boutique PLM Avocats enjoys a particularly strong reputation for representing debtors in amicable and judicial insolvency proceedings and assisting industrial buyers with the acquisition of distressed assets, with a client base that ranges from mid-size companies to subsidiaries of groups and investment and mezzanine funds. Patricia Le Marchand, who has a wealth of experience in operational and financial restructurings, insolvency proceedings, and related litigation, oversees the practice.

Responsables de la pratique:

Patricia Le Marchand


Les références

‘Involvement, responsiveness, advice, technical expertise and experience.’

‘Pugnacity, courage and a strong commitment from the whole team, backed up by solid skills.’

‘A very caring and supportive team, which is crucial for a company in difficulty. Great humanity and professionalism. Takes 360° account of the company’s specific needs and provides high-quality support for the manager.’

Principaux clients

Wedo


E4V


Marne et Finance


Paulette à Bicyclette


RDV Invest (Nysa)


International Design


ATIS (Vinci Energies)


Collectivité Territoriale de Guyane (CTG)


Fapmo (Groupe Moret Industries)


Las Brasil


Tortilla Mexican Grill PLC


Crédit Agricole Ile-de-France / Monoprix / Casino


Tedis


Principaux dossiers


Racine

Racine‘s broad practice covers all forms of financial and social restructurings, insolvency proceedings, and related litigation, with a strong emphasis on large-scale industrial restructurings, cross-border cases, and debt restructurings for distressed LBOs. The team is equipped to represent all stakeholders, acting for clients from across the banking and finance, real estate, retail, logistics, manufacturing, and medical and pharmaceutical sectors. Laurent Jourdan, an expert in LBO restructurings and the turnaround of distressed companies, leads the team alongside Antoine Diesbecq and Emmanuel Laverrière.

Responsables de la pratique:

Antoine Diesbecq; Laurent Jourdan; Emmanuel Laverrière


Autres avocats clés:

Lisa Ducani; Benjamin Gallo


Les références

‘There’s always a willingness to find solutions, to challenge them until the best one is found’.

‘Emmanuel Laverrière stands out for his experience, his knowledge of companies in difficulty and his ability to think ahead.’

‘Great availability combined with indisputable competence.’

‘Emmanuel Laverrière is a great professional and very competent. He always has the customer’s interests in mind’.

‘Emmanuel Laverrière is the partner with whom I had regular discussions and who managed our problem perfectly, sometimes in a hurry or at late hours.’

‘Great team, very engaged with their clients.’

‘Antoine Diesbecq is very enthusiastic, well organized, always finds time to meet with you. ’

‘Very good team under Laurent Jourdan’s leadership, Laurent is very committed to following up his projects good strategic vision when opening projects. Important experience, good knowledge of the players.’

Principaux clients

Barbara Bui


Elsie Santé


NCT


Hélio Print


Château du Breuil


Gaussin


Groupe Casino


Principaux dossiers


  • Assisted the ad hoc committee of Groupe Casino, made up of its independent directors, in its financial restructuring, including the lock-up agreement until the safeguarding plan was adopted and implemented.
  • Advising Hélio Print on initiating a conciliation procedure to negotiate its multimillion-euro debt and the applied tariff.
  • Advising Elsie Groupe Pharmacies on interdependent contracts executed with Pharmaflix, which is now subject to insolvency proceedings, and a lessor.

Simon Associés

Thanks to its sizeable network of offices, Simon Associés is well placed to advise clients throughout France on financial and social restructurings and insolvency proceedings. The firm is particularly well known for its advice to SMEs, but also represents investment funds, banks and mezzanine lenders, and receivers, assisting in both amicable and collective insolvency proceedings. Managing partner Jean-Charles Simon and Emmanuel Drai jointly lead the practice, and Hubert de Frémont advises on related labour law issues.

Responsables de la pratique:

Jean-Charles Simon; Emmanuel Drai


Autres avocats clés:

Hubert de Fremont; Paul Minet


Principaux clients

OFFICE DEPOT


RESIDE ETUDE


CASINO/CDISCOUNT


ADDUXI


COSEM


DUCATILLON


LA GRANDE RECREE


COURTE PAILLE


Principaux dossiers


  • Advising Reside Etude on the safeguard procedure to restructure its financial liabilities.
  • Advising CDiscount, a sub-group of the Casino Group, on its financial restructuring within the context of the Casino Group restructuring.

VALOREN

Boutique firm VALOREN has a focus on special situations, specialising in restructuring, M&A and corporate law (including distressed M&A), and litigation. The team predominantly acts for companies and shareholders, particularly in amicable and collective proceedings, but is also able to advise investors and credit institutions. Virginie Verfaillie Tanguy, who has extensive experience in both French and international restructuring and insolvency proceedings, jointly leads the practice with Virginie Lockwood, a key name for social restructurings.

Responsables de la pratique:

Virginie Verfaillie Tanguy; Virginie Lockwood


Autres avocats clés:

Morgane Valla


Les références

‘The Valoren team, led by Virginie Verfaillie Tanguy, is highly competent. Their professionalism is matched by their great availability. This is extremely valuable when we’re dealing with urgent matters. Her mastery of the subject provides excellent advice on finding a way out of the case. In addition to these talents, Valoren has a great deal of benevolence towards its managers, which is essential for building the trust and closeness needed in these difficult situations. I have a great deal of confidence in the Valoren team and very much appreciate our collaboration on cases.’

‘Virginie Verfaillie and Morgane Valla are my contacts. They are absolutely professional. Their back office is very competent. I prefer to use this firm rather than other restructuring firms because they are direct and extremely available’.

‘Hard work. Support available throughout the process’

Principaux clients

BERLITZ CORPORATION – TELELANGUE


G FINANCES


NEXTSTAGE – LOCAMOD


BERTIN TECHNOLOGIES


SELARL JEROME ALLAIS – TRAX DISTRIBUTION


ARCOLE – BABEL STRATEGIE & CREATION


COSEM – AJRS et ASCAGNE


SODISTOUR – AJRS


MINELLI – AJILINK et ANASTA


EUGENE PERMA


Principaux dossiers


  • Advised Nextstage – Locamod on the global restructuring of the group’s debt.
  • Advised Arcole on its acquisition of the Babel group within the framework of a conciliation procedure.
  • Assisted Cosem during its social restructuring.

Alerion

Working closely with the firm’s banking and finance, M&A and tax teams, Alerion is able to cover the full spectrum of restructuring and insolvency matters, from debt restructurings and the acquisition of distressed companies and assets to insolvency proceedings and associated litigation. Gilles Podeur, who has recently seen an uptick of instructions in insolvency proceedings with a cross-border dimension, heads the team.

Responsables de la pratique:

Gilles Podeur


Les références

‘Gilles Podeur is dedicated, business-oriented, flexible and very deserving.’

Principaux dossiers


Archers A.A.R.P.I.

Archers A.A.R.P.I.'s restructuring and insolvency group is skilled in handling both litigation and transactional matters, with notable strength in advising clients in the retail, food and beverages, and manufacturing sectors. The team also plays a prominent role in advising financial institutions and private equity firms. Fabrice Patrizio, who combines expertise in operational and financial restructurings, insolvency proceedings and distressed M&A, heads the practice.

Responsables de la pratique:

Fabrice Patrizio


Autres avocats clés:

Jean-Maurice Gaillard; Paul-Henri de Cabissole


Principaux clients

Colony Capital


Principaux dossiers


Barbier Legal

With offices in Paris and Neuchâtel, boutique firm Barbier Legal is uniquely placed to handle restructurings and special situations with French and Swiss elements. Under the leadership of Jérôme Barbier, the team focuses predominantly on the small to mid-size market, with notable expertise in acting for companies in financial difficulties in amicable and judicial insolvency proceedings.

Responsables de la pratique:

Jérôme Barbier


Autres avocats clés:

Diane Beaupuy-de Thézy


Les références

‘The Barbier Legal team is highly competent and well versed in restructuring cases and, more generally, in commercial law and litigation. Jérôme Barbier is an excellent tactician, ably assisted by Diane Beaupuy-de Thézy. It’s a firm on a human scale that meets the needs of clients who are looking for a lawyer who is available, directly involved in their cases and with considerable experience and solid knowledge of commercial law and companies in difficulty.’

‘Very available and responsive team. Very sharp in approach and precise. A deliverable with all the implementation details with a complete guide of what to do and how to do it.’

‘The Barbier legal team is proactive. It is able to support the company and the manager in extreme situations.’

‘This team stands out for its in-depth specialization in assisting companies in difficulty, while remaining flexible on related issues. Its main strength lies in its active listening and human approach, offering a personalized service that builds customer loyalty.’

 ‘The invoicing process is flexible, and the use of technological tools ensures smooth collaboration. There is a strong team spirit, with excellent internal collaboration that guarantees efficient and collective file management.’

‘Compared to the competition, the team stands out for its humanity and innovation, making it a key and differentiated player in the market.’

‘ I sincerely thank Jérôme Barbier for his exceptional work as a lawyer specializing in helping companies in difficulty. His legal expertise, combined with his genuine empathy, listening skills, and commitment, made a significant difference in navigating our challenges, and I highly recommend his services for any company in need of reliable and compassionate support.’

Principaux clients

PAT COM


SECURISPACE


PETIT PAN


STRATX EXL


Groupe OZARSLAN


GROUPE OUI CARE


SCI IMMO BUSINESS PARIS / EUROBEST PRODUCTS BELGIUM


Principaux dossiers


  • Advised Green Riders group (Pat Com and Mujoo) on conciliation and subsequently ad hoc authorisation proceedings, and on receivership proceedings, which began in April 2023.
  • Advised Securispace group (Securispace France ST, Securispace France SIS and Securispace Gestion) on preventive proceedings and subsequently insolvency proceedings intended to bring about an overall restructuring of the group.
  • Advised StratX ExL on its receivership proceedings following an attempted conciliation procedure.

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner advises on a steady stream of financial restructurings, insolvency proceedings and acquisitions of distressed assets, routinely acting for debtors, creditors and investors (with notable expertise in representing clients in the real estate sector). Led by the dual-qualified Didier Bruère-Dawson, the team has particularly strong capabilities in cross-border cases. Marie Gicquel is also a key name to note.

Responsables de la pratique:

Didier Bruere-Dawson


Autres avocats clés:

Marie Gicquel; Noé Couturieux; Laura Ngoune


Les références

‘A highly technical team in restructuring and litigation, but above all, very personable with true listening skills. In my view, this is what sets them apart from many other teams in the sector.’

‘Marie Gicquel is a lawyer with a solid background. She is tenacious in amicable negotiations, agile in finding solutions to very complex situations, and formidable in litigation.’

‘The BCLP team is experienced and diverse in terms of profiles. Highly international, responsive, and offering reasonable fees for a team accustomed to large firms.’

Principaux clients

Tristan Capital


Al Mana Group


Luckyway


Crazy Horse


Galeries Bartoux Group


Principaux dossiers


  • Advised Tristan Capital Partners on the structuring of a complex €80 million mortgage loan for the restructuring of Hôtel Scipion, an iconic historic asset in Paris, owned by GDG Investissements.
  • Advised Al Mana on the acquisition of the assets of Groupe Go Sport through the set-up of a joint bid with Intersport to take over Go Sport’s assets, sanctioned by the court.
  • Organised the out-of-court restructuring of Luckyway’s France-based subsidiaries through negotiations with stakeholders and assisted Luckyway with recovering funds in the context of Antenor Group’s bankruptcy.

Chammas & Marcheteau

Stéphane Cavet oversees the restructuring and insolvency team at Chammas & Marcheteau, which combines its expertise with the experience of the firm’s corporate, M&A and tax practices to advise on complex financial restructurings, insolvency proceedings and the takeover of distressed companies. The firm acts for a range of parties, including SME debtors, investors and buyers, in both domestic and cross-border cases.

Responsables de la pratique:

Stéphane Cavet


Autres avocats clés:

Anne-Charlotte Faure


Les références

‘Work, commercial aggressiveness, and creativity.’

‘Trust, responsiveness, professionalism, and personalization… The descriptors are endless when it comes to describing how highly I regard the ‘Restructuring’ department and its head, Stéphane Cavet.’

‘It’s the intuitive, person-to-person nature of the relationship with Stéphane Cavet that makes his service incomparable. There is a deep sense of trust that adds a very reassuring quality to the advice and support provided.’

Principaux clients

PRIMAVISTA


GROUPE SEBBIN


GROUPE CEMEDIS


BLUE VALET


BLACK CODE


UNION INVESTMENT


KRONO SAFE


STRUDAL


GROUPE JUNGLE


DREAMQUARK


Principaux dossiers


  • Advised PrimaVista, which has 340 employees and a turnover of €24m, on the framework of its safeguard proceeding.
  • Advised Groupe Sebbin, which has 140 employees and a turnover of €20m, on the framework of its receivership.
  • Advised Groupe Cemedis, which has a turnover of €28m, in connection with the takeover of the assets and activities of the Cosem association (1,200 employees and €90m in turnover), under a disposal plan.

Dentons

Dentons fields a diverse restructuring and insolvency practice that is equipped to represent any stakeholders in insolvency proceedings, from debtors and creditors to purchasers of distressed assets. In particular, the team has robust skill sets in cross-border restructurings, distressed M&A, financial institution insolvencies and out-of-court workouts. Audrey Molina, whose practice spans amicable and collective insolvency proceedings and related litigation, heads the team.

Responsables de la pratique:

Audrey Molina


Les références

‘The team was fantastic. Very engaged, always available, very reasonable in their approach. ’

‘The individuals are fantastic. Very pleasant and professional. Always available despite time zone differences.’

Principaux clients

Revolve Group Inc.


Lacelier


Principaux dossiers


  • Advised Revolve Group Inc., a listed company on the NYSE and a fashion retailer for millennial and generation Z consumers, regarding the takeover of Alexandre Vauthier company’s assets and activities.
  • Advised Lacelier, under a conciliation proceeding because of the COVID-19 crisis, on opening a safeguard proceeding and more recently on a court-ordered reorganisation proceeding.

FIDAL

FIDAL stands out for its large resources, fielding a sizeable restructuring and insolvency team from offices throughout France. The group’s core strengths lie in advising distressed companies in relation to debt restructurings and corporate reorganisations, and groups of creditors in insolvency proceedings, although its practice also covers distressed M&A. Isabelle Vincent, Arnaud Roiron and Brigitte Petitdemange lead the team from Paris.

Responsables de la pratique:

Isabelle Vincent; Arnaud Roiron; Brigitte Petitdemange


Autres avocats clés:

Antoine Assié; Yves-Marie Herrou; Patrick Espaignet; Mathieu Aurignac; Hedy Saoudi


Les références

‘The team at FIDAL Paris has a perfect mastery of the full range of financial restructuring operations, whether working alongside banking institutions or distressed companies. It is a highly operational team, very close to its clients, with a 360-degree view of the challenges and constraints of all involved parties, including the procedural bodies.’

‘We particularly appreciate Isabelle Vincent’s deep knowledge of banking activities and products, which allows her to anticipate key points of attention for her banking clients during negotiations and the implementation of restructurings. She demonstrates a great ability to adapt and interact with other law firms involved, while always keeping her clients’ interests at the forefront.’

Principaux clients

SOCIETE GENERALE


CIC, BRED, BNP PARIBAS ET SOCIETE GENERALE


RAJSUJEE INTERNATIONAL, CHOLAA KNIT WEAR, GG FASHION


SKYLINK INDUSTRIES GMBH – EVA


EUROPAMIANTE


CHAUSSEA


SFOB


CIFEA-MKG


BODET GROUPE


CLINIQUE DE L ABBAYE


SOCIETE NOUVELLE DES GRAVIERES DE GOUT


Principaux dossiers


  • Advised Societe Generale as creditor of the holding companies of Casino and Casino Guichard Perrachon, including negotiating the restructuring of the bilateral loans and overdraft facilities granted by Societe Generale to the group under the reorganisation plan.
  • Advised a consortium of suppliers (Rajsujee International, Cholaa Knit Wear and GG Fashion) that are major unsecured creditors (€12 million in claims) in the context of Jennyfer Stock J’s rehabilitation proceedings with the constitution of classes of affected parties.
  • Assisted American group EVA and its German subsidiary Skylink Industries GmbH in acquiring 100% of Internest’s shares, under safeguard by the Meaux Commercial Court.

Franklin

Franklin‘s insolvency practice can now draw on the expertise of three partners, following the arrival of Laura Bavoux from Weil, Gotshal & Manges LLP in June 2024, bringing significant experience in cross-border cases to the table. The team is well equipped to advise debtors, creditors, shareholders and purchasers, with a broad caseload that takes in pre-insolvency and insolvency proceedings, associated litigation and distressed M&A. The experienced Numa Rengot leads the team, while Arnaud Pédron is another key contact.

Responsables de la pratique:

Numa Rengot


Autres avocats clés:

Arnaud Pédron; Laura Bavoux; Pierre Dupuys


Les références

‘I had the pleasure of working several times with Laura Bavoux, who has always been exceptionally responsive and professional. She is very approachable and attentive to her clients, consistently offering the best legal advice in complex restructuring situations.’

‘She demonstrates great proactivity and initiative when studying cases in collective procedures.’

‘The team was particularly available, highly skilled in our specific issues, and always anticipated potential outcomes, ensuring each possible solution was thoroughly analyzed before making a decision. Billing was clear, transparent, and precise with no concerns.’

‘Laura Bavoux deserves special mention. She is always attentive to matters, thoughtful, and takes the time to reflect. She never imposes but rather convinces with strong arguments, encouraging us to think critically and make informed decisions. Her approach ensures a simple and effective relationship in particularly stressful times—maturity and serenity in summary.’

‘An excellent team led by Numa Rengot, a true “doer” who is much more than just a lawyer, and strengthened by Laura Bavoux, an excellent technician who goes beyond the technicalities and thinks broadly about case strategy.’

‘Excellent knowledge of procedures, high availability, diverse profiles, and gender balance.’

‘A very professional team that has significantly expanded, with solid expertise at all levels. Their main strengths lie in their responsiveness and continuous availability, ensuring quick and effective support. The lawyers are extremely experienced and competent, providing top-quality legal advice. They take the time to understand our specific needs, allowing us to receive relevant and tailored recommendations.’

‘Numa Rengot is undoubtedly one of the best restructuring lawyers in France. He stands out for his client-oriented approach, combining technical expertise with strategic support, based on strong, trusted relationships with all market players. Responsive, available, competent, and creative, he enjoys an excellent reputation. I appreciate his inventiveness and determination to find solutions in complex situations. He is a trusted partner for our strategic decisions, and it’s a pleasure to work with him.’

Principaux clients

Apicap


Capital Hospitality Europe


Catella Hospitality Groupe


Chemet SA & Chemet GLI


Eppen


Groupe Avenel


Groupe Diffusion Plus


Groupe IBL Ltd


Groupe Magellim


Imprimeur Maury


La Maison Fourgeot


République du Congo


Regroupement et Diffusion de Saint-Lubin


Probike


Sprint


Valco Group


Principaux dossiers


  • Advised the Republic of Congo in connection with the restructuring of the Corsair air transport company.
  • Advised IBL on superstore chain Run Market’s recovery plan.
  • Advised Imprimerie Mordacq and its shareholder-managers in connection with receivership proceedings for the purpose of adopting a continuation plan given the impact of the energy crisis with treatment of creditors by classes of parties affected.

Gide Loyrette Nouel A.A.R.P.I.

Gide Loyrette Nouel A.A.R.P.I.‘s growing restructuring and insolvency practice is particularly skilled in representing debtors in conciliation proceedings, but is also capable of acting on the side of creditors, including international funds and financial institutions. The team handles both pre-insolvency negotiations and insolvency proceedings, as well as drawing on practice head Jean-Gabriel Flandrois‘ M&A expertise to handle distressed acquisitions. Nadia Haddad is another key name.

Responsables de la pratique:

Jean-Gabriel Flandrois


Autres avocats clés:

Nadia Haddad


Les références

The team is well-balanced in terms of seniority levels, allowing them to deliver high-quality work while having enough bandwidth to manage a significant workload. The quality of their output is indisputable.’

‘Nadia Haddad demonstrates great maturity in team management and case handling. Trained by the most competent lawyers in the market, she provides her clients with an impeccable level of service.’

‘The team is very responsive and highly skilled in both advisory and litigation aspects of collective procedure law. Despite being relatively young, the team is very experienced, especially thanks to Nadid Haddad’s expertise.’

‘Nadia Haddad stands out for her exceptional legal skills, knowledge of the sector and collective procedure field, and her strong interpersonal relations. She is deeply involved in her cases, supporting clients throughout the procedures with humanity and kindness, while maintaining a very high level of professionalism. Her added value in a case is indisputable.’

‘This is a team that continues to rise in the market due to the complexity and scale of the cases it handles. They have been involved in significant high-profile cases this year. The lawyers are highly available and able to find innovative solutions to complex situations.’

‘The team is young and dynamic. The firm pays attention to work-life balance, which helps maintain a team of effective, motivated associates, counsels, and partners who are proud to belong to the firm.’

‘Nadia Haddad distinguishes herself within the team due to her experience. The work produced is of high quality, and both her legal expertise and ability to propose solutions are highly appreciated. Her rigor is an asset to the team and the firm.’

Principaux clients

Société de Projet Industriel (BPI France)


JSC France


TotalEnergies Raffinage France


JP Morgan Asset Management


Société Générale


Amundi


Groupe Eyrolles


RTE


Principaux dossiers


  • Advised the SPI Fund on the management of its stake in the listed company METabolic Explorer (METEX) during the pre-insolvency and insolvency proceedings of METEX and its affiliates.
  • Assisted JP Morgan Asset Management, which owns a real estate complex through an SNC, in the context of a conciliation proceeding.
  • Advising RTE in its capacity as a creditor of Groupe Oui, which is experiencing financial difficulties (BCM Energy and Oui Energy, two subsidiaries of Groupe Oui, are in conciliation proceedings).

Lamoure Rivals

Boutique firm Lamoure Rivals continues to establish a foothold in the French market following its launch in March 2023, benefitting from the experience of founding partners Bérangère Rivals and Lionel Lamoure across the full scope of restructuring and insolvency law. Rivals is particularly skilled in judicial insolvency proceedings and restructuring-related litigation, while Lamoure is adept at handling LBO restructurings and distressed M&A.

Responsables de la pratique:

Bérangère Rivals; Lionel Lamoure


Autres avocats clés:

Camille Grangier


Les références

‘Lamour Rivals is a team of specialists in collective procedure law, dynamic, competent, and innovative. The work delivered is of high quality, and it’s a pleasure to work with them. They adopt a collaborative approach and integrate the perspectives of all stakeholders.’

‘The team is small but efficient, available, rigorous, and fully committed. The cohesion and fluidity between the partner and her collaborator are a real asset. The team has always made sure to proactively reach out ahead of important dates and fostered a climate of trust.’

Bérangère Rivals has been both a great teacher in a field unfamiliar to us and attentive to our goals, always offering practical suggestions. She analyzed our issues with calm and was able to convince us. She also collaborated seamlessly with another law firm complementary to her expertise. Beyond her experience and rigor, I especially appreciated the quality of the communication and her availability.

Principaux clients

Factofrance


Crédit Mutuel Factoring


La Banque Postale Leasing & Factoring


La Banque Postale


IdiCo


FrenchFood Capital


FNB Private Equity


Crédit Mutuel Equity


123 Investment Managers


GECINA


FCT Baux Reg 2018


Andera Partners


STEF


Sancy Développement


Covivio Hotels


Principaux dossiers


  • Advised a securitization fund (fonds commun de titrisation) on the restructuring of the operational financing of Réside Etude group, placed under safeguard and reorganization proceedings.

Moncey Avocats

Pierre-Alain Bouhénic joined Moncey Avocats from Brown Rudnick LLP in January 2023 to oversee its restructuring and insolvency practice, bringing to bear extensive experience in both contentious and transactional matters. The growing practice is well versed in acting for corporate debtors in pre-insolvency and insolvency proceedings, as well as assisting investors in the takeover of distressed companies, with particular strength in cross-border cases.

Responsables de la pratique:

Pierre-Alain Bouhénic


Autres avocats clés:

Thibault Lefort


Principaux clients

Flacks Group


Hivest Capital Partners


Gascogne


Société Transport G Gautier


CMI (France Messagerie)


Groupe La Dépêche du Midi


CAFOM


Enerlis (Loris ENR)


Ymagis


Vivendi


GDA Luma


French Food Capital


Arts et Biens (Gorillaz | Getir | Frichti)


Eolane Group


Principaux dossiers


  • Advised Flacks Group on the acquisition of the paper division of the Imerys Group, a publicly listed company on the Euronext, specializing in the production and conversion of industrial minerals in a distressed context.
  • Advised Gascogne group (whose parent company, Gascogne SA, is listed on Euronext Growth) on two operations in line with the restructuring of the group carried out since 2014 and fundamental to its future.
  • Advised the Vivendi/Canal Plus group in connection with the reorganization proceedings initiated in favour of Mars Films, the first independent film distribution company in France.

Norton Rose Fulbright

Led by seasoned litigator Philippe Hameau, the team at Norton Rose Fulbright has robust experience in both transactional and contentious insolvency matters, and is particularly active in cross-border cases, acting for a growing roster of international clients. The firm is also noted for its advice to financial institutions and its ability to handle restructurings in the shipping and aviation sectors.

Responsables de la pratique:

Philippe Hameau


Autres avocats clés:

Guillaume Rudelle


Principaux clients

Fibre Excellence


GFG Alliance


Bank of China


Ramsay Santé


Principaux dossiers


  • Advising Bank of China in the context of the debt restructuring and insolvency proceedings of the real estate investment group Foncière Immobilière Bordelaise, as well as representing the client in related litigation.
  • Advising GFG Alliance in relation to the difficulties it faces further to the bankruptcy of Greensill, which involves assisting and representing the client as part of the insolvency proceedings of Alvance Foundry Poitou, Alvance Wheels France and Alvance Aluminium Poitou, the debt and corporate restructuring and related litigation
  • Advised Ramsay Santé on the successful bid to acquire Cosem assets in the context of the insolvency proceedings of Cosem, and continuing to advise the client on the implementation of the sale and related litigation.

Osborne Clarke

Osborne Clarke‘s restructuring team takes a cross-disciplinary approach, frequently working alongside the firm’s corporate and employment teams to handle complex cases, ranging from out-of-court preventive proceedings to court-ordered reorganisations, distressed acquisitions and insolvency-related disputes. Nassim Ghalimi, a key adviser to debtors, shareholders, creditors, buyers and corporate managers, heads the practice, while Paul Lafuste is also a name to note.

Responsables de la pratique:

Nassim Ghalimi


Autres avocats clés:

Paul Lafuste; Mathilde Rousseau


Les références

‘Very competent, impressive, and attentive! I have complete trust in their high-quality support.’

‘At the highest level: seriousness, rigor, and professionalism at every moment. Availability and efficiency are also strengths that place them among the very best.’

Principaux clients

Arcole / G2C New Co


Groupe Philogeris


CMA CGM Air Cargo


EDUC-UP


JLB Group


W. v. d. Heyde GMBH


Woodborne European Investments


Le Gramme / Archives Holding


Norwegian Airlines / Norwegian Air Shuttle ASA


PIPM France


Serel


Arcole / Allimand


ZF PWK Mecacentre


Principaux dossiers


  • Advised Arcole Industries (specialising for over 15 years in the turnaround of French SMEs and industrial mid-cap distressed companies) on the takeover of the assets and activities of Entreprise André Roux and Elan (Alsos group) by its subsidiary, G2C New Co company (G2C group), under a sale plan.
  • Assisted several companies of the Philogeris group, within the framework of their safeguard and judicial reorganisation proceedings opened in March and July 2024, and more generally in the framework of the reorganisation of the group as a whole.
  • Advised Le Gramme, a company specialising in the design and sale of high-end jewellery for men, within the framework of its judicial reorganisation proceedings and the preparation of its reorganisation plan.

Rescue Law

Under the leadership of Serge Pelletier, Rescue Law represents a diverse client base of SMEs-ETIs, investment funds and receivers in relation to financial and operational restructurings, judicial insolvency proceedings, the takeover of distressed companies, asset transfer plans and insolvency-related litigation. In addition, the firm is noted for its niche expertise in advising technology start-ups in financial difficulties.

Responsables de la pratique:

Serge Pelletier


Autres avocats clés:

Sollenn de Corta


Les références

‘A very strong knowledge of his sector and its challenges, with a highly pragmatic approach that focuses on what matters and allows for quick and effective solutions.’

‘A highly specialized and very effective team in the restructuring field.’

‘Serge Pelletier has vast experience and efficiency in restructuring, with a very direct approach.’

Principaux clients

Bazar 5000


Smart4 Engineering


Predict4Health


Arcole Industries


Fédération Française de Cyclisme


SARL du Grand Sud


Blue Industry and Science


Groupe Ténor


Optibudget Conseils


B&B Hôtels SAS


DxO Labs


Groupe SFPI


E-b-trans


Virtual Time


Prêt à pousser


Marbotic


Hôtel de Trémoille (JJW group)


SAS Modetrotter


Urbismart


Principaux dossiers


  • Advised a potential buyer, Bazar5000, owned by the Houri family, in the acquisition in the context of insolvency proceedings of the assets of the Eugène Perma group, a company specializing in hair.
  • Assisted France’s leading manufacturer of decorative wood panels and technical plywood and its five operating subsidiaries with the implementation of its mandat ad hoc proceedings and then the sale of 4 of its subsidiaries.
  • Advised a potential buyer, Arcole, on the acquisition, in the context of insolvency proceedings of the assets of Griffine Industries, an international specialist in the creation, design, manufacture and sale of coated fabrics.

Squadra Avocats

Squadra Avocats established its insolvency practice in September 2022 with the arrival of department head Charles Morel from August Debouzy, whose recent caseload spans significant cases in the media, technology and medical sectors. The team is adept at advising both distressed companies and financial investors, with experience spanning amicable and judicial insolvency proceedings, the acquisition of distressed assets, and insolvency-related litigation.

Responsables de la pratique:

Charles Morel


Autres avocats clés:

Emilie Rosier


Les références

‘The team is excellent in the various facets of the practice area: debt restructuring, amicable procedures, distressed M&A and distressed litigation. Responsive, friendly and pragmatic, it knows how to adapt the proposed solution to each case.’

‘Charles Morel is a very involved lawyer, offering his clientele of small, medium and intermediate-sized companies the quality of service of a large firm, which he worked in for a long time.’

‘Very available, close-knit team that does not hesitate to spend time getting to the bottom of a case, putting in in-depth work to clearly understand the situation, find the key to negotiations with each party, and propose a structure that works for the client’s objectives. Having direct interactions with experienced practitioners makes all the difference’

‘Charles Morel is a true leader – he provides good advice, and is available, and pleasant to work with.’

‘I place it at the top in terms of skills, quality of service provided and responsiveness/availability.’

‘Charles Morel is particularly highly recommended. He has a lively mind and business sense. He is very pragmatic. He knows the law but also the reality of the business world and knows how to reconcile the two and provide the best advice.’

Principaux clients

MAASH


CARDIORENAL


SELAFA MJA


TEREOS


FA KROSNO


HEROES MEDIA


THE APP LAB


HSK


GRAFTYS and BIOLOGICS 4 LIFE


CASH ANGEL (pool of creditors)


Principaux dossiers


  • Advised MAASH, a subsidiary of Belgian-listed group Compagnie du Bois Sauvage, on the acquisition of the assets of METEX Nøøvista under a disposal plan approved by the Paris Commercial Court.
  • Advising The App Lab in the context of receivership proceedings opened by the Nanterre Commercial Court, after assisting the company under an ad hoc mandate.
  • Advised the Graftys group, a company specialising in medical biotechnology, along with its shareholders, during its receivership proceedings.

Stephenson Harwood

Stephenson Harwood continues to grow its restructuring and insolvency practice, with a focus on mid to large-cap transactions and strong sector-specific expertise in transportation (particularly aviation and shipping), telecoms and decarbonisation. The team acts for the full spectrum of stakeholders, but is particularly well suited to advising shareholders, purchasers and creditors. Alexandre Koenig, who stands out for his complementary litigation expertise, heads the team.

Responsables de la pratique:

Alexandre Koenig


Les références

‘I worked with Alexandre Koenig, who was available, provided valuable advice, and demonstrated a deep understanding of the company’s context as well as the intricacies of conciliation procedures. He showed empathy and psychological insight in his approach to the case.’

‘An exceptional team led by Alexandre Koenig. Their strengths include excellent listening skills, agility and creativity, as well as the ability to think cross-border, including expertise in major industry sectors.’

‘Excellent availability, a proactive approach to the market, and a strong ability to connect potential buyers with administrators. Great rigor.’

‘Very attentive to our needs, the team is reactive and proactive in our project. A very satisfying partnership since 2022.’

‘Alexander Koenig is an outstanding restructuring lawyer. He has an acute understanding of the commercial aspects and strategies required to achieve a successful distressed acquisition and in restructuring initiatives. He provides immediate advice and makes a difference determining results when on his feet as an Advocate before a Tribunal. ’

‘The team has strong alignment with the legal strategy defined with the firm’s leadership. The legal knowledge and skills of the team includes a holistic view which helps clients in forming great strategic decisions amongst the complex French legal framework, particularly the social aspects in insolvency and restructuring.’

‘Alexandre Koenig is always available, providing excellent communication and explanation around the complexity of the French legal system for foreigners in the insolvency practice, allowing a difficult decision to become easier.’

‘Lauriane Chauvet is very dedicated and always available in providing additional value to the work expected from clients.’

Principaux clients

Circet


Tecalemit Tubes


Foliateam


Foliateam Sud-Ouest


Foliateam A2COM


Pro Aviation CRJ1000 Leasing LLC (Regional One and Petrus Aviation’s joint venture)


Teak Capital


Volta Investissements


Scopelec Energies Services


Principaux dossiers


  • Advised Circet in two major takeover deals from receivership proceedings: the acquisition of most of Scopelec’s activities and of the entire business of Setelen.
  • Assisting Foliateam A2COM, a subsidiary of the Foliateam Group, in the takeover of all the activities of Fastnet Reseaux & Telecom out of French receivership proceedings opened by the Commercial Court of Nantes.
  • Assisting Regional One and Petrus Aviation, through their joint venture PRO Holdings, in connection with the French and English law aspects of the restructuring and insolvency aspects of the French regional airline Celeste, in court-supervised collective proceedings opened by the Brest Commercial Court.

UGGC Avocats

At UGGC Avocats, the team’s wide-ranging expertise and ability to tap into other departments at the full-service firm enables it to assist with all facets of insolvency proceedings, from preventive procedures through to collective proceedings, takeover bids and associated litigation. Led by the experienced Thierry Montéran and Marine Simonnot, the team acts for a broad client portfolio, including distressed companies, directors, shareholders, investors and creditors.

Responsables de la pratique:

Thierry Montéran; Marine Simonnot


Les références

‘A strong understanding of the sector’s challenges and the tools that ensure sound advice, grounded in reality.’

‘The insolvency team at UGGC is excellent. They are one of the most impressive teams outside of the major international firms.  They attended a number of hearings and worked well and efficiently as a team.’

‘Marine Simmnot is a superstar. I worked closely with her on the above mandate and work closely with her via the AIJA network of lawyers as we are both on the insolvency commission. She is a true specialist when it comes to insolvency and is very practical. She is also excellent as an advocate on her feet. ’

‘The main strength is having the positive characteristics of a large firm while maintaining an extremely pragmatic approach. Regarding diversity, I felt there was a good balance within the firm, which gave me the impression of a dynamic and respectful professional environment. Personally, I was able to benefit from the advantages of a highly personalized collaboration between the client and the partner.’

‘Marine Simonnot is truly competent, managing the case with a highly professional approach, while maintaining great agility and adaptability to the circumstances. It was a procedure that needed to be kept simple, but achieving this outcome required ensuring that all relevant parties received the necessary assurances regarding the path chosen by the shareholder of the company involved. This allowed for a relatively simple resolution of a situation that could have become extremely complicated.’

‘The team is very efficient and attentive to the needs of both clients and colleagues, with excellent knowledge of French and international law.’

‘Relentless commitment to achieving the objective, excellent communication and enthusiasm.’

‘Marine Simonnot is highly committed and persistent in all the cases she handles with great expertise. She excels at defending the interests she represents while also finding solutions to complex issues involving multiple parties.’

Principaux clients

General Electric Wind France


Paris 2024


FNAC


EDF Pulse


Dalkia


Petro-Chem (Axens Group)


Hiventy Group (HIG)


Armoric Holding


Guyamazone Group


Carmel Fast Track Limited


Paralloy Ltd


Art-FI


Leroy Paysage


Trowers & Hamlins


Philippe Denavit (former director of a group of building renovation companies acquired by SPIE Batignolles)


Ségur


Foxlease


Fédération Nationale du Bois


Concept 4


Alice & Bob


La Caisse d’Assurance Vieillesse des Experts-comptables et des Commissaires aux comptes (Cavec)


Green Network


Stenpa


Création Investments (SYBEL)


Divine SAS


Principaux dossiers


  • Counsel to Paralloy Ltd in its acquisition of Manoir Industries, after its bid was approved the Commercial Court of Paris.
  • Counsel to Armoric Holding group, which is interested in acquiring the shares of Hydrovideo, after its owner was subject to a liquidation (Huwer Group).
  • Counsel to General Electric Wind France in a claim against Vergnet, a French listed company that was the subject of insolvency proceedings in 2017, for up to € 5,000,000.

Veil Jourde

Veil Jourde‘s insolvency practice works closely with the firm’s M&A, litigation, finance, tax and employment departments to advise a broad array of debtors, managers, shareholders, investors and creditors in distressed situations. The team’s caseload takes in financial restructurings, distressed M&A, insolvency proceedings and insolvency-related litigation. Practice head Eugénie Amri has notable recent experience in cases in the retail, aviation and media sectors.

Responsables de la pratique:

Eugénie Amri


Les références

‘Very good team. Working hard. A lot of experience. Availability at any moment. Very clear in explanation.’

‘Eugénie Amri is the lawyer I work with and I enjoy working with her. A very good pro in the restructuring.’

‘It’s an interesting mix because the team is very strong in restructuring as well as M&A, which is a key market trend in France.’

‘Reactivity, relevance, efficiency, proximity, understanding, and empathy.’

Principaux clients

Minelli


Côté Maison / Prisma Media


Tally Weijl


San Marina


Yano Group


Région Réunion and Sematra, the reference shareholder of Air Austral


Eniblock SA


Numsight Consulting France


Lagardère Média


Alpine Aluminium


Secur


Principaux dossiers


  • Advised Côté Maison (Prisma Media) regarding the takeover of two well-known interior design press titles in France and Europe, “Ideat” and “The Good Life”.
  • Advised Minelli on its conciliation proceedings, its reorganization proceedings and the sale of its activity and assets to the consortium of companies DS Invest, Mes Demoiselles and Union Brothers within the framework of reorganization proceedings.
  • Advised Yano Group, a Japanese industrial group, on its investment in Titan Aviation and Groupe Pourprix under reorganization proceedings.

VOLT Associés

VOLT Associés has continued to strengthen its reputation in the field of small to mid-cap restructurings, with expertise spanning turnaround strategies, debt restructurings, debtor-in-possession financings, the takeover of distressed companies, and bankruptcy-related disputes. Alexis Rapp leads the team, which frequently works in conjunction with the firm’s finance, corporate and tax departments to advise investment funds, banks, corporates, managers and shareholders.

Responsables de la pratique:

Alexis Rapp


Les références

‘Alexis Rapp is the partner in charge of the restructuring practice at VOLT Associés. His team is of high quality, always available, and extremely reliable. In addition to his own expertise, Alexis can rely on the firm’s strong competencies in financing, corporate, and tax matters, which provide a valuable platform to support complex restructuring cases. The team is often involved in high profile and international matters and has strong experience in assisting international clients in addition to locals.’

‘Alexis Rapp is a reassuring lawyer, and I had the pleasure to be working with him on several occasions. His calm and confident nature is particularly invaluable in distressed situations, where his ability to manage complex issues with skill and intelligence shines through. Alexis is not only a highly capable technician, offering bespoke, tailored solutions that are perfectly adapted to each case, but he is also a lawyer whose interpersonal skills stand out. His approachable and composed personality makes him well-liked and respected by both his peers and insolvency officers. This respect and appreciation significantly help in facilitating the progression of difficult cases, specifically for complex insolvency litigation cases and in negotiating favorable agreements. His combination of technical expertise and strong relationships within the sector makes him an exceptional asset in the most challenging situations.’

‘Specialized experience and top expertise in the insolvency field with a client-centered approach. Cultural affinity making the communication swift and flexible. Full-time accessibility to the legal team. Focus, high-quality document production, and timely deliveries. Team composition of similar men and women ratio. Billing fully aligned and consistent with the initial offer.’

‘Agile and responsive feedback adapting to the various demands in a complex process landscape. The whole team’s responsiveness is outstanding, with a special remark to Alexis Rapp as the general coordinator representing Volt Associés.’

Principaux clients

CLUBFUNDING


AEW


F&A ASSET MANAGEMENT


C4 VENTURES/INDUSTRIES


AUCHAN GROUP


GROUPE CRÉDIT MUTUEL-CIC


Wellbred Group


NOE INDUSTRIES


BNPP


Rhon’Telecom


Principaux dossiers


  • Assisted the Wellbred oil trading group in the takeover of the activities of Premester, a distressed company, which had sales of over €90m before the insolvency proceedings were opened.
  • Assisted C4 Industries in acquiring a stake in the distressed Arc Group, Europe’s largest glassmaking group, which notably involved negotiating with the French government to obtain debt restructuring of €120m.
  • Assisted ClubFunding, the largest crowdfunding service in France, in its negotiations with the insolvent FIB Group, which involved several contentious procedures that culminated in the first judicial recognition in France of the effectiveness of the trust (fiducie) in the event of insolvency proceedings.