We communicate clearly and honestly; leverage established external relationships; and work quickly, efficiently, and closely with clients' in-house counsel to ensure a cohesive strategy.

A true one-stop shop, we deploy Mayer Brown’s finance and litigation lawyers as the situation dictates. And on complex cross-border, multi-jurisdictional matters and formal insolvencies, we collaborate seamlessly with our regional teams.

Our track record underscores our commitment to protecting clients' interests in both out-of-court and in-court challenges.

Global M&A Network’s Annual Turnaround Atlas Awards, 2022

• Advised on Chapter 11 Restructuring of the Year (Large) – Washington Prime Group restructuring. We represented GLAS USA LLC and GLAS Americas LLC, as administrative agent and collateral agent, respectively, under the $100 million DIP facility in connection with the Chapter 11 cases of Washington Prime Group, a major owner of malls and shopping centers across more than 100 locations across the US, and its affiliates. The firm also represented GLAS USA LLC as administrative and collateral agent under three separate syndicated credit facilities totaling over $1 billion of prepetition secured debt, and advised GLAS USA LLC and GLAS Americas LLC, as administrative agent and collateral agent, respectively, under the takeback facility that paid down the prepetition secured debt pursuant to a confirmed Chapter 11 plan of reorganization.
• Advised on Cross Border Turnaround of the Year – Avianca Holdings restructuring. We represented BNP Paribas, as facility agent, security agent and lender in the multi-jurisdictional insolvency cases of Avianca Holdings S.A. and certain of its subsidiaries and affiliates. Avianca Holdings S.A. is a multi-LATAM company, one of the world’s oldest airlines, and the second largest airline in Latin America.
• Advised on Turnaround of the Year (Mega) – Hertz Global Holdings restructuring. We represented Barclays, as administrative agent, under the $1.6 billion pre-petition Donlen ABS facility in the Hertz Chapter 11 case and, as administrative agent, under a $400 million post-petition super priority DIP/ABS facility with respect to the Donlen fleet leasing business.

The M&A Advisor’s Annual Turnaround Awards, 2022

• Advised on Reorganization of the Year (over $1B) – Hertz Global Holdings restructuring. We represented Barclays, as administrative agent, under the $1.6 billion pre-petition Donlen ABS facility in the Hertz Chapter 11 case and, as administrative agent, under a $400 million post-petition super priority DIP/ABS facility with respect to the Donlen fleet leasing business.
  

IFLR Americas Awards 2022

• Advised on Restructuring Deal of the Year – Hertz Global Restructuring. We represented Barclays, as administrative agent, under the $1.6 billion pre-petition Donlen ABS facility in the Hertz Chapter 11 case and, as administrative agent, under a $400 million post-petition superpriority DIP/ABS facility with respect to the Donlen fleet leasing business. The firm also represented Barclays and another major financial institution, as initial purchasers, in connection with the offering of $1 billion asset-backed notes issued by Donlen Fleet Lease Funding 2 LLC, which was consummated as part of a section 363 transaction pursuant to which Athene Holding, an affiliate of Apollo Management, acquired the Donlen fleet leasing business in the Hertz Chapter 11 case.

Chambers USA 2022

• Ranked for Bankruptcy/Restructuring

Legal 500 USA 2022

• Ranked for Restructuring (including bankruptcy): Corporate 

US News/Best Lawyers “Best Law Firms” First-tier Rankings 2022

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• New York – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

Global Restructuring Review’s GRR30 2021

• Ranked number 13 among law firms for cross-border restructuring and insolvency matters

The M&A Advisor’s Annual Turnaround Awards, 2021

• Advised on Industrials Deal of the Year – Restructuring and Majority Recapitalization of FrontPoint Security Solutions, LLC. We represented the original administrative agent and lead lender, under a $200 million multi-lender first lien secured facility to FrontPoint Security Solutions, LLC, a major alarm security company, and its affiliates. The firm played a leading role in the negotiation, documentation and execution of the entire restructuring and recapitalization.
• Advised on Cross-border Restructuring of the Year (Under $500MM) – Refinancing of Pyxus International Inc. We represented a trade and development financial institution operating in Africa on the amendment and restatement of a $285 million secured pre-export finance facility for Alliance One subsidiaries in Kenya, Malawi, Tanzania, Uganda and Zambia, and on related restructuring/bankruptcy coordination issues arising in connection with the U.S. Chapter 11 proceedings of Pyxus International Inc. (the parent and guarantor of the facility).

Global M&A Network’s Annual Turnaround Atlas Awards, 2021

• Advised on Chapter 11 Restructuring of the Year (Mega) – PG&E Corporation restructuring. We represented a large international bank in connection with PG&E Corporation’s Chapter 11 case, including advising the client as administrative agent under the $1 billion AR exit facility pursuant to the confirmed plan of reorganization for PG&E Corporation. Mayer Brown also advised BNP Paribas as joint lead arranger and lender under the $5.5 billion DIP Facility, as well as a lender under certain prepetition credit facilities.
• Advised on Chapter 11 Restructuring of the Year (Large) – Centric Brands Inc. restructuring. We represented PNC Bank, N.A. as administrative agent and purchaser in the Chapter 11 bankruptcy cases of Centric Brands Inc. The prepetition securitization facility was amended, restructured and extended post-petition in the form of a DIP securitization facility to solve for the Chapter 11 debtors’ “severe liquidity challenge and disruption to the ordinary course of the debtors’ business operations.”
• Advised on Materials & Resources Restructuring of the Year – Covia Holdings Corp. restructuring. We represented PNC Bank, N.A., as administrative agent and issuing bank, in connection with the complex DIP/letter of credit facility in Covia Holdings Corp.’s Chapter 11 case. 

Global M&A Network’s Americas M&A Atlas Award, 2021

• Advised on Restructuring of the Year (Large) – Centric Brands Inc. restructuring. We represented PNC Bank, N.A. as administrative agent and purchaser in the Chapter 11 bankruptcy cases of Centric Brands Inc. The prepetition securitization facility was amended, restructured and extended post-petition in the form of a DIP securitization facility to solve for the Chapter 11 debtors’ “severe liquidity challenge and disruption to the ordinary course of the debtors’ business operations.”

Chambers USA 2021

• Ranked for Bankruptcy/Restructuring 

IFLR Americas Awards 2021

• Advised on Restructuring Deal of the Year – McDermott International Restructuring. We represented the Commercial Bank of Dubai (CBD) in connection with the restructuring of McDermott International, a provider of engineering and construction for the energy industry. By negotiating the inclusion of protective provisions within McDermott’s confirmed plan of reorganization, Mayer Brown ensured that the procurement guarantees that CDB had provided for projects undertaken in the Middle East and North Africa by McDermott’s affiliate would not be impaired.

IFLR United States Awards 2021

• Advised on Restructuring and Insolvency Deal of the Year – Macy’s Restructuring. We represented the board of directors of Macy’s, Inc., a publicly-traded retailer with sales of $24.6 billion, in a new $3 billion ABL facility and $1.3 billion secured bond issuance.

IFLR1000 2021

• Ranked for Restructuring and Insolvency – United States

US News/Best Lawyers “Best Law Firms” First-tier Rankings 2021

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• New York – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• Chicago – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

Global M&A Network’s Annual Turnaround Atlas Awards, 2020

• Advised on Energy Restructuring of the Year – Weatherford International restructuring. We represented Deutsche Bank AG, as agent, collateral agent and bilateral letter-of-credit issuer, in connection with the multi-jurisdictional Chapter 11 cases of Weatherford International plc and certain of its affiliates, with respect to a rolled-up prepetition and new money post-petition cash collateralized letter of credit facility, which was harmonized on a side-by-side with a term loan DIP facility and the related cross-border cash management system.
• Advised on Basic Resources Restructuring of the Year – Cloud Peak Energy restructuring. We represented PNC Bank, National Association, as administrative agent, in connection with financing the Chapter 11 case of Cloud Peak Energy Inc., one of the largest coal producers in the United States. The unique financing blended securitization technology and DIP lending into court-approved, complex hybrid securitization/DIP facility. The innovative financing harmonized complex intercreditor issues raised by extending a securitization facility into a Chapter 11 proceeding (utilizing a non-bankrupt SPV) on a side-by-side basis with DIP loans provided by prepetition secured lenders.

IFLR1000 2020

• Ranked for Restructuring and Insolvency – Thailand
• Ranked for Restructuring and Insolvency – United States
• "Very experienced with China work and debt restructuring." 
• "Solid firm that I have used for a number of years now. The restructuring team has good experience in the region and provides us with consistently sound advice."  

Chambers USA 2020

• Ranked for Bankruptcy/Restructuring 

US News/Best Lawyers “Best Law Firms” First-tier Rankings 2020

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• New York – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• Chicago – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

IFLR1000 2019

• Ranked for Restructuring and Insolvency – United States
• “Mayer Brown specialises in highly complex cross-border restructuring matters involving significant amount of capital, across multiple jurisdictions and numerous stakeholders.” John Marsden and his team “are leaders in the restructuring field and provide exceptional service, they are always accessible and available. They listen first and talk second. This combined with superior technical and communication skills make them a stand out in the market. They work together as a team, are very pragmatic, have cool heads under pressure, excellent stakeholder management skills, and great working style.”
• “Strong firm with a deep bench of experienced practitioners. It has the international network necessary to be effective in this region.”
• "I have worked with Mayer Brown for the past two years in Hong Kong with the same team. I am very satisfied with the overall level of service."
• "The firm has professionalism and expertise."
• "It has strong commercial and technical ability, and appears to have an excellent culture within the restructuring team with John Marsden … presenting a strong line up."

Chambers USA 2019

• Ranked for Bankruptcy/Restructuring

IFLR Americas Awards 2019

• Advised on Restructuring Deal of the Year – Oi Group Restructuring. We represented Bank of New York Mellon, as trustee, for the notes Oi Group has issued in the international financial markets in connection with Oi Group judicial reorganization case.

The M&A Advisor’s 2019 Annual Turnaround Awards

• Advised on Restructuring of the Year ($1B to $10B) – Waypoint Leasing Holdings Ltd Restructuring. We represented BNP Paribas, Glas Trust Company LLC (the successor to BNP Paribas) and Wells Fargo Bank, National Association, as agents, respectively, for separate syndicates of lenders, in connection with the workout, restructuring, financing and multi-jurisdictional insolvency cases of Waypoint Leasing Holdings Ltd. Waypoint financed its pre-petition operations through a series of complex, bi-lateral secured credit facilities at its subsidiaries, with a parent guarantee. Additionally, the lenders in each credit facility financed Waypoint on a post-petition basis through funding under complicated DIP loans and/or use of cash collateral. The restructuring culminated in a third-party M&A resolution for the Glas Trust Company-led syndicate, and a credit-bid M&A resolution for the Wells Fargo-led syndicate. 
• Advised on Chapter 11 Reorganization of the Year ($500MM to $1B) – Procure Cancer Treatment Restructuring. We represented BNP Paribas Fortis Bank S.A./N.V., as agent on behalf of four overlapping but different syndicates of lenders, in connection with the restructuring / refinancing / exit of several secured loans for cancer treatment centers across the US in the original aggregate principal amount of approximately $500 million. This representation required attention to healthcare, regulatory and restructuring issues (among others) all while navigating the interests of a large number of parties frequently seeking differing outcomes. The resolution of these loans ultimately involved the innovative use of the municipal bond market to facilitate exit financing (both out-of-court and in connection with a prepackaged chapter 11) and, separately, through a highly contested section 363 bankruptcy sale process.

Global M&A Network’s Annual Turnaround Atlas Awards, 2019

• Advised on Health Care Services Restructuring Deal of the Year – ProCure Proton Therapy Center restructuring and refinance. We represented BNP Paribas Fortis Bank S.A./N.V., as agent on behalf of four overlapping but different syndicates of lenders, in connection with the restructuring/refinancing/exit of several secured loans for cancer treatment centers across the U.S. in the original aggregate principal amount of approximately $500 million, including innovative use of the municipal bond market to facilitate exit financing (both out-of-court and in connection with a prepackaged chapter 11) and, separately, through a highly contested section 363 bankruptcy sale process.
• Advised on Turnaround of the Year – Large – Mega Markets – Oi S.A judicial restructuring. We represented Bank of New York Mellon, as trustee, for the notes Oi Group has issued in the international financial markets in connection with Oi Group judicial reorganization case.
  

US News/Best Lawyers “Best Law Firms” First-tier Rankings 2019

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• New York – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• Chicago – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
  

Chambers USA 2018

• Ranked for Bankruptcy/Restructuring 

IFLR1000 2018

• Ranked for Restructuring and Insolvency – United States

IFLR Americas Awards 2018

• Advised on Restructuring Deal of the Year – Odebrecht Oil & Gas Restructuring. We advised 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.

Legal 500 USA 2018

• Ranked for Restructuring (including bankruptcy)

US News/Best Lawyers “Best Law Firms” 2018 First-tier Rankings

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• Chicago – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

Asia Legal Awards 2017

• Advised on Finance Deal of the Year: Restructuring & Insolvency – the US$1.5 billion cross-border restructuring of the Pacific Andes group. We advised Malaysia’s Maybank, one of the primary bank creditors, on its negotiations with Pacific Andes and other creditors and as to its security and enforcement options, with a view to recovery of its loans.

Chambers USA 2017

• Ranked for Bankruptcy/Restructuring

IFLR Asia Awards 2017

• Named Restructuring Team of the Year.
• Advised on Restructuring Deal of the Year – Kaisa Group's restructuring. We represented the two largest and only offshore bilateral financial creditors to Kaisa Group, a Hong Kong-listed PRC property developer which defaulted on its offshore debt.

Latin Lawyer Awards 2017

• Advised on Restructuring Deal of the Year – Odebrecht Oil & Gas Restructuring. We advised 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.

Legal 500 USA 2017

• Ranked for Corporate restructuring (including bankruptcy)

US News/Best Lawyers “Best Law Firms” 2017 First-tier Rankings

• National – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• Chicago – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
• New York – Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law

Chambers USA 2016

• Ranked for Bankruptcy/Restructuring in Illinois
• "They're very active in this space - they stay on top of things, keep us informed and fully understand our internal needs."