Restructuring & Liability Management

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Successful outcomes for even the most complex restructurings and LMEs.

We are one of the most active independent restructuring and liability management advisers globally. With specialist advisers all over the world, we have unrivalled reach and unique market knowledge.

We help our clients to execute complex restructuring plans such as balance sheet recapitalisations, restructurings, and liability management exercises. This enables them to reset their financial footing and exploit growth opportunities.

No. 1

in EMEA by deal volume in 2025

51 %

market share in 2025 for EMEA

USD 772 bn

restructured value since 2016

215

deals in the last 5 years

Restructuring & Liability Management services

Complex recapitalisations and restructurings (including debt-for-equity swap)
Liability management exercises (‘LMEs’) such as drop-downs, up-tiering exchange offers and discount capture transactions
Chapter 11, UK Restructuring Plan and Scheme, and other international formal restructuring procedures
Private credit restructurings
Special situations and opportunistic credit new money fundraising
Contested valuation
Distressed M&A
Forum shopping
Sovereign debt restructuring : local and international lenders, multilateral lenders, IMF programmes, etc