"very knowledgeable, personable and practical."
Chambers UK 2020


Devi Shah is co-head of Mayer Brown's Restructuring, Bankruptcy & Insolvency group in London. She focuses on all aspects of restructuring and insolvency and has a particular interest in international and cross-border insolvency and restructuring matters, as well as pensions aspects of restructurings.

Devi has extensive experience in insurance insolvency and restructuring matters, including advising on provisional liquidation, schemes of arrangement (including international recognition and enforcement issues), proof issues and set-off. She also handles financial disputes and fraud related claims.


  • Englisch


  • Advising Wilmington Trust (London) Limited as security agent in relation to the acquisition of the Ideal Standard group, a multinational bathroom furniture and accessories manufacturer, by funds Anchorage and CVC. The deal involved 23 jurisdictions and the use of a novel acquisition process under Luxembourg restructuring laws.
  • Advising Wilmington Trust (London) Limited as security agent in relation to enforcement activity in connection with financing provided to a European satellite television, internet and mobile operator.
  • Advising HSBC Bank, N.A. and HSBC Bank plc in their respective capacities as trustee and offshore accounts bank in the extrajudicial reorganization proceedings in Brazil and Chapter 15 recognition proceedings in the US of Odebrecht Oil & Gas and its subsidiaries and affiliates, which resulted in the successful restructuring and mandatory exchange of more than $2.5 billion of secured notes.
  • Advising US Bank Trustees Limited as security trustee in respect of the sale of the German tire retail and fast fit chain Auto-Teile-Unger (ATU) group to Mobivia Groupe. The sale was preceded by a restructuring of ATU group’s debt, including a US$237 million facility agreement and €109 million of notes, with security granted in nine separate jurisdictions, and involved the appointment of partners at FTI Consulting as provisional liquidators in the Cayman Islands.
  • Advising ATP Oil & Gas (UK) Limited on its successful $1.2 billion restructuring by way of a company voluntary arrangement, and its sale to Alpha Petroleum (UK) Holdings Limited, including on cross-border aspects. 
  • Advising the state owned Vietnam Shipbuilding Industry Group on its restructuring, including promoting and implementing a ground-breaking scheme of arrangement.
  • Advising Berlin-Hannoversche Hypothekenbank AG as senior lender in relation to the enforcement, restructuring and sale of Goldman Sachs‘ UK headquarters at Peterborough Court, including on parallel UK and BVI schemes of arrangement.
  • Advising the liquidator of New Cap Reinsurance Corporation on a complex cross border application for enforcement of an Australian preference judgment including successfully representing the liquidator before the UK Supreme Court in the seminal case New Cap Re v Grant (in the conjoined appeal Rubin v Eurofinance SA).
  • Advising the administrators of Comet Group in relation to their appointment, powers, retention of title and other contentious and commercial issues arising in the administrations.
  • Advising the liquidators of an antiquities business on claims by the Italian and Greek authorities.
  • Advising Nationwide Building Society on a number of property related restructurings including on complex cross-border and tax-driven restructuring solutions.
  • Advising in relation to the insolvency/restructuring of various RMBS vehicles, including Edeus and Victoria Mortgages.
  • Advised major property market lenders on enforcement options in relation to cross-border property finance transactions, including in relation to proposed English administrations of offshore vehicles on the basis that COMI is in this jurisdiction.
  • Acting for a number of major financial institutions in relation to the collapse of the Lehman group and Icelandic banks.
  • Acted for Trustees of the Woolworths pension scheme in connection with its entry into administration.
  • Advised on various proposed restructurings involving companies with pension deficit liabilities including through deploying a company voluntary arrangement or above PPF level compromise with trustees.
  • Advised administrators of the reinsurance broker Park London Limited (partners in KPMG) on all aspects of the administration, including business sales and on the impact of the CASS rules.
  • Advised a global cargo group in relation to the collapse of Swissair group, encompassing cross-border insolvency, jurisdiction and set-off issues.
  • Advised Bank of America in proceedings brought against it by the liquidators of BCCI.



  • England und Wales

Consistently ranked as a key or leading individual by the legal directories :

  • Listed as a 'Leading Individual', London practice head Devi Shah is praised by clients for being "very knowledgeable, personable and practical." She regularly advises clients on cross-border matters, with particular expertise in pensions and insurance restructurings. (Chambers UK 2020).
  • Listed in the 'Hall of Fame' for Insurance Insolvency & Restructuring (Legal 500 2020).
  • Devi Shah is 'extremely pleasant to work with and provides reliable advice' across both domestic and cross-border mandates, with particular niches on insurance insolvencies and pensions-related restructurings.' (Corporate Restructuring & Insolvency); She is praised for her 'pragmatic' approach. 'Devi Shah and Colin Scagell have been very pragmatic in their approach to providing recommendations and opinions in instances where other competitors had taken a rather more overly cautious approach that would have resulted in an unnecessarily increase workload.' (Insurance Insolvency & Restructuring) (Legal 500 2020).
  • Head of the firm's London restructuring practice Devi Shah has particular expertise in pensions and insurance restructuring. She acts for a broad range of clients on cross-border matters, spanning from debtors and lenders to insolvency practitioners. Clients say: "She really explains the situation and ensures that we understand both the risks and the rewards." (Chambers UK 2019).
  • As part of her broad-ranging practice, the "technically strong and extremely personable" team head Devi Shah has niche expertise at handling pensions-related insolvency matters. Shah is also noted for her prowess at handling restructurings within the insurance sector.
  • Leading Lawyer - Highly regarded. (IFLR 1000 2019).
  • "Fantastic lawyer" Devi Shah is adept at handling both contentious and non-contentious insolvency matters. She is well regarded for her expertise in pensions and insurance restructurings, and is also able to advise on cross-border matters. (Chambers UK 2018).
  • Devi Shah is highly regarded by clients, who describe her as "a fantastic lawyer and a joy to work with." She has a broad practice acting for debtors, lenders, insolvency practitioners and pensions trustees on challenging cross-border mandates. (Chambers UK 2017).
  • The "experienced" Devi Shah advises on contentious insolvency and restructuring issues, and "is a joy to work with, always delivering on technical issues". (Legal 500 2016).
  • According to her clients, Devi Shah "is very user-friendly, extremely capable, has excellent black-letter legal skills and her advice has a strong commercial focus. A client could not be in better hands." She is known for her advisory and contentious practice on behalf of pension sector clients, and is particularly proficient in cross-border concerns. (Chambers UK 2016).
  • Is "a delight to deal with, always instilling confidence and providing clear recommendation" (Legal 500 2015).
  • Global M&A Network selected Devi as one of the “Top 100 Restructuring & Turnaround Professionals” for 2015, a list that features the most accomplished, brilliant and innovative consultants, investment bankers and lawyers from the global restructuring, distressed M&A, bankruptcy and insolvency industries. Devi was also selected for 2014.
  • Devi Shah is the joint head of the firm's restructuring, bankruptcy and insolvency group. She is highly praised by clients and peers as an "exemplary" practitioner, and is active on contentious and transactional restructuring and insolvency issues. (Chambers UK 2015).
  • The "exceptional" Devi Shah is "technically excellent" (Legal 500 2014).
  • Clients value Devi Shah for her strategic acumen. One source notes: "She proved outstanding in developing and successfully executing strategy." She is particularly adept at handling restructuring matters in the insurance sector, yet also demonstrates abilities in pension and retail matters. (Chambers UK 2014).
  • Devi moves up in this year's rankings having earned praise from interviewees for being "knowledgeable and technically strong." One client states: "She has that very rare ability to combine technical excellence with commercial acumen." (Chambers UK 2013).
  • highly popular with clients, she "is really approachable and really knows her stuff" (Chambers UK 2012).
  • she is an "exceptional lawyer who is technically strong and commercially savvy" (Legal 500 2012).