Fielding an ‘experienced and energetic’ team, Clifford Chance has vast expertise in acting as the supporting creditor in winding up petitions and advising on complex multi-jurisdictional restructurings, primarily in the aviation and real estate sectors. The practice demonstrates a growing presence in the crypto space, routinely representing companies in debt recovery proceedings and matters arising during liquidations. Scott Bache and Donna Wacker co-head the outfit, with the former specialising in security enforcement and general banking litigation, whilst the latter concentrates on asset recovery and cross-border insolvency issues. Phoebe Lo is an expert in corporate restructurings, Soo Khim Keoy stands out for his knowledge in commercial disputes, while Thomas Walsh is noted for assisting major financial institutions.

The practice at Kirkland & Ellis is highly regarded for its specialist knowledge in restructuring the offshore debt of its domestic and international clients, alongside advising on complex global enforcement strategies relating to insolvency. The firm displays extensive cross-border capabilities, often leveraging its network of offices across North America, Europe, and Asia, when advising group holders of offshore notes. Neil McDonald heads the team, routinely assisting with complex restructurings in the real estate space, while Wei-Yang Lim acts for a client-base of major private equity sponsors and portfolio companies. Fergus Saurin concentrates on insolvency-related disputes, and was promoted to partner in October 2023, Anthony Wijaya stands out for his knowledge on cross-border restructurings.

Exhibiting a strong debtor and creditor practice, Latham & Watkins LLP offers advice on all aspects of Hong Kong, UK, and US law relating to cross-border restructurings and complex bankruptcy cases. The team is especially well-equipped to assist committees of offshore bondholders and groups of companies with restructuring operational indebtedness and scheme of arrangements, predominantly representing clients in the real estate, aviation, and crypto fields. The department is led by Howard Lam, who specialises in the whole spectrum of matters relating to special situations, private credit, and banking finance transactions. Flora Innes is also noted as key, standing out for her work on corporate restructures and multi-jurisdictional disputes.

Hailed as a ‘very strong’ team with an ‘international network’, the Linklaters practice has in-depth experience in handling restructurings of large-scale financial debt defaults, navigating exits of financial investments, and managing winding up petitions. The firm’s client-base is extensive, including Chinese and global companies from across the financial services, energy, and healthcare spheres. The ‘excellent’ Richard Woodworth co-heads the team alongside Denise Fung, with the former specialising in complex enforcement and insolvency matters, whilst the latter predominantly focuses on major cross-border restructurings and disputes in the property space. Since joining as Counsel in August 2023, Roberta Cheung primarily acts for creditors, debtors, and insolvency practitioners, while concentrating on financial restructurings and special situations in Asia.

Housing a group of insolvency specialists, Tanner De Witt draws upon its ‘wealth of experience’ and ‘market knowledge’ when acting for major companies in winding up petitions and complex bankruptcy litigation. The firm has extensive expertise in acting for an array of liquidators, receivers, and creditors, primarily focusing on the financial services and shipping sectors. Co-headed by ‘top insolvency lawyer’ Ian De Witt and Robin Darton, the group is well regarded for its commercial litigation and insolvency offering, and Sunny Hathiramani is an expert in multi-jurisdictional issues and enforcement proceedings. Troy Greig is knowledgeable of fraud and regulatory measures, Veronica Chan concentrates on cross-border bankruptcy claims, and Tim Au is noted for his debt recovery work.

Advising on the full spectrum of distressed work, from formal insolvency to multi-jurisdictional bond restructurings, the Hogan Lovells team is regularly lauded as ‘fabulous’ by the international financial institutions and real estate investment groups it represents. The practice has vast experience in assisting court-appointed liquidators, often in relation to winding up petition proceedings, with practice head Jonathan Leitch being highly knowledgeable on all aspects of special situations and corporate finance issues. Chris Dobby is described as an ‘exceptional litigator’, regularly handling high-profile insolvency claims, while Derrick Lau mainly focuses on debt investments. Yolanda Lau concentrates on fraud and shareholder disputes, and Teresa Kwok is also cited as a key port of call.

Spearheaded by John Marsden, the offering at Johnson Stokes & Master consistently advises banks, trustees, and bondholders on the whole gamut of restructuring and special situation matters. The team has niche expertise in contested restructuring negotiations and complex enforcement actions, while increasingly managing trust asset claims adjudication and multi-jurisdictional schemes of arrangement. Marsden specialises in financing transactions and non-performing loan disposals, Terence Tung focuses on cross-border insolvency disputes, and Ivy Wang stands out for her work with banks regarding recovery options.

Showcasing extensive expertise on both the debtor and creditor sides, Sidley Austin is described as ‘experienced and effective’ when handling cross-border restructurings, primarily concerning companies’ offshore debt. Additionally, the practice is well equipped to manage winding up petitions and Hong Kong schemes of arrangement. Leveraging her ‘extensive knowledge’, Renee Xiong is a key contact for negotiating structuring terms for debt securities, Carrie Li is a capital markets expert, while Desmond Ang stands out for his work on insolvencies and distressed scenarios. Olivia Ngan and Joshua Oeij are both highlighted as key ports of call.

Characterised as ‘approachable, original, and friendly’, Stephenson Harwood's team has extensive experience in acting for major liquidators and receivers in all aspects of winding up petitions and multi-jurisdictional restructurings. On the contentious side, the firm consistently handles claims concerning post-termination rights and avoidance proceedings, with practice head Jamie Stranger being an expert in advising bankruptcy trustees in formal insolvency cases. The ‘devoted’ Alexander Tang is a commercial litigation and defamation specialist, Simon Wong is highly knowledgeable in the aviation space- focusing on aircraft financing and leasing, whilst Ivan Ng concentrates on shareholder disputes. Dorothy Siron has vast knowledge of asset tracing and recovery.

Frequently acting for groups of bondholders in offshore debt restructurings and distressed real estate transactions, the practice at Weil, Gotshal & Manges LLP counts companies from across the property development and natural resources sectors amongst its key clients. The team shows strength on the contentious side, mainly in relation to credit litigation and distressed secondary debt trading. The ‘phenomenally hardworking’ Kathleen Aka leads the team and specialises in creditor enforcement and distressed M&A issues, while Graham Price stands out for his wealth of experience in cross-border debt restructurings and specialist credit opportunities. Minna Zhang is noted for her knowledge on corporate insolvencies primarily.

Leveraging its network of offices across Hong Kong, Shanghai, and Beijing, Baker McKenzie assists with all elements of restructurings and liquidations, with a distinctive focus on the banking and finance sector. Kwun Yee Cheung spearheads the team with vast expertise in cases involving winding up petitions and commercial disputes, while Gary Seib is highly knowledgeable of multi-jurisdictional litigation mandates arising from liquidation matters. Meanwhile, Edmund Ma has a strong court restructuring background.

King & Wood Mallesons has in-depth expertise in acting for listed companies and financial institutions on the full spectrum of multi-jurisdictional reorgansiations, liquidations, and restructurings. The firm is particularly specialised in representing domestic and global clients in the real estate and banking sectors, with Sheldon Tse being an expert in handling foreign direct investment projects and corporate finance matters. Helena Huang stands out for her litigation and enforcement knowledge, Barbara Chiu focuses on recovery proceedings, and Edmund Wan is knowledgeable of winding up and bankruptcy issues.

Frequently acting for petitioners in major bankruptcy claims and assisting groups of noteholders in liquidation cases, White & Case houses a multilingual and multidisciplinary team which represents domestic and international clients. Since joining in September 2023, practice head Sophie Lyall brings vast expertise in all aspects of restructuring, insolvency, and special situation issues to the outfit, Baldwin Cheng primarily focuses on the contentious side of liquidations, while Wilfred Ho is an international arbitration expert. Eugene Man predominantly advises banks and corporates, and Jessica Zhou is also highlighted as a key member of the team.

Demonstrating strength in defending winding up actions brought by creditors, and advising on multi-jurisdictional bankruptcy cases, CMS Hong Kong LLP is noted for representing Chinese and global companies from across the banking, manufacturing, and digital sectors. Kingsley Ong leads the team, bringing extensive experience of insolvency workouts and restructurings to the group, Andrew Horton is a litigation expert, and Steven Wise is knowledgeable in the shipping and marine insurance fields. Jonathan Chu is a commercial litigator, while both Simon Barrell and Tony Lau are key names within the practice.

Consistently working alongside leading accountancy corporations and other restructuring practitioners acting as liquidators, Herbert Smith Freehills Kramer LLP has vast expertise in high-profile insolvency disputes and complex asset reorganisations. The team is co-headed by the trio of Gareth Thomas, Alexander Aitken, and Jojo Fan, each specialising in acting for global corporations and financial institutions on debt recovery and insolvency issues. Tommy Tong focuses on the TMT, real estate, and consumer sectors, and Peter Ng is also noted as key within the team.

Known for advising shareholders onn dispute-related winding up petitions and supporting corporations in cross-border restructuring schemes, Norton Rose Fulbright is regularly instructed by major players in the construction, real estate, and mining sectors. Daniel Ng leads the practice, being an expert in commercial litigation and fraudulent trading claims, while Camille Jojo brings extensive arbitration experience since transitioning into a senior consultant role in July 2023.

Displaying a strong focus on contentious liquidation applications, defending distressed companies subject to winding up, and assisting corporations in voluntary liquidation, Reed Smith Richards Butler LLP routinely assists domestic and global entities. Asha Sharma leads the team with her vast knowledge on company-related disputes and contested winding up proceedings to the team, while Delpha Ho concentrates on capital reorganisations. Steve Tam is knowledgeable of bankruptcy cases, and Denise Jong is also a key name within the practice.

Having joined the team from Akin in May 2023, co-head Naomi Moore brings her vast expertise on cross-border insolvencies and restructurings to the DLA Piper practice. The firm leverages the strength in its litigation and finance teams when handling special situations, bank workouts, and bond restructurings. Co-lead Trinh Hoang is an expert in banking law, especially on the restructuring of debt facilities and acquisition finance.

Best known for acting on behalf of creditors, Eversheds Sutherland also advises debtors on insolvency and enforcement proceedings, alongside assisting on debt repayment strategies. The firm is especially knowledgeable of the energy and financial services sectors, with practice head Mark Hughes specialising in arbitrations and investigations, while Alex Doughty concentrates on high-profile financings. Duncan Watt focuses on cross-border insolvencies, and Jason Tam is also highlighted as a key figure within the group.

Spearheaded by Nick Gall and Evelyn Chan, the Gall team is noted for advising insolvency practitioners and litigation funders across Hong Kong, with notable expertise in the media and tech fields. Chan is a specialist in all aspects of insolvency administrations, including complex creditor services and enforcement of security, whilst Adriel Wong is a key contact for civil and commercial litigation issues.

With considerable experience in appearing before the Hong Kong Court of Appeal in matters involving winding up orders and bankruptcy petitions, the Ince & Co team is regularly instructed by international financial institutions and listed enterprises. Ian Lo heads the practice, and is noted for his specialism in cross-border restructuring and insolvency matters, while Anderson Siu primarily acts for liquidators and receivers across a full spectrum of court applications.

Displaying vast experience in acting for appointed liquidators, alongside handling major winding up petitions, the Karas So LLP practice routinely represents domestic and international clientele. The team is headed by Jason Karas, who is highly regarded for tracing and recovering assets, in tandem with corporate fraud, while Kevin So is described as ‘one of the best litigators’. Kevin Kee stands out for his insolvency coverage, and Tara Hamilton primarily focuses on complex restructurings.