Jones Day

Jones Day
Jones Day

Business Restructuring & Reorganization Practice

Jones Day’s lawyers collaborate to resolve complex restructuring issues and problems in jurisdictions throughout the world. Debtors, creditors, and other parties involved in business restructurings, liability management exercises, chapters 9, 11, and 15 cases, and other transactions involving financially distressed entities receive a full range of services from more than 100 restructuring lawyers in financial centers worldwide. We represent debtors, secured and unsecured lenders, creditors, trustees, and insolvency practitioners in complex multijurisdictional restructurings, out-of-court workouts, administrations and schemes of arrangement, as well as distressed investors and acquirors of financially troubled enterprises.

Global, Multijurisdictional Team

Clients are provided:

  • A full range of restructuring capabilities, including dedicated distress-related resources from other Firm practices, such as litigation, tax, finance, benefits, and M&A.
  • Experience addressing diverse issues and dealing effectively with stakeholders in corporate and municipal restructurings.
  • Understanding of the business, financial, and legal issues facing distressed corporate groups, distressed and nondistressed investors, and other parties dealing with troubled entities.
  • Extensive experience on all sides of restructuring matters, enabling our lawyers to see the entire picture and offer valuable perspectives.
  • Restructuring experience spanning all major industries and specialties.

Recent International Representations

  • Advised Greensands Financing PLC on its Scheme of Arrangement, which implemented a five-year amendment and extension to the terms of over £400 million of secured debt obligations. The Scheme of Arrangement formed part of a wider restructuring to the Southern Water Group. 
  • Represented Mr. Farooq Ahmad Mann, in his capacity as foreign representative of Wayne Burt Pte Ltd. the subject of a Singapore liquidation proceeding commenced in November 2018, in the first-ever chapter 15 recognition of a Singapore default judgment issued in connection with a Singapore liquidation process. 
  • Represented Spark Networks SE in the first-ever cross-border restructuring under the recently enacted German restructuring law ("StaRUG") and chapter 15 of the U.S. Bankruptcy Code involving impairment of U.S.-law governed debt and the secured lender taking ownership of Spark.
  • Advised Esquire Holdings LLC in the sale of Esquire Retail Limited, the operating company of the business trading as “Clintons” (formerly known as Clinton Cards) to a strategic investor.  
  • Acted as court-appointed administrators in the bankruptcy of Scotch & Soda Netherlands, a Netherlands-based fashion retail company with 200 freestanding stores across Europe, North America, Asia, the Middle East, Africa and Australia and with distribution to over 70 countries. 
  • Advised Diebold Nixdorf as it successfully restructured over $2.7 billion in funded debt, completing the first-ever dual proceeding under the U.S. bankruptcy code and the recently nacted Dutch restructuring law (the “WHOA”) in 71 days; this is also the first time a WHOA was recognized in a chapter 15 proceeding. 
  • Advised FRP Advisory as joint administrators of The Body Shop International Limited, in connection with the trading administration and subsequent sale of the company's business and assets. Throughout one of the largest trading administrations in the retail market in recent years, Jones Day assisted the joint administrators in stabilizing the company and its global subsidiaries by enacting a commercial turnaround plan and a subsequent business and asset sale involving over 12 jurisdictions.
  • Advised a group of clients as lenders under a junior debt instrument advanced to the Celsa group, a family-owned business and one of the largest manufacturers of long steel products in Europe. A Barcelona Court issued the first-ever non-consensual restructuring plan filed by lenders applying a new set of pre-insolvency rules enacted in Spain at the end of September 2022. (2023) 
  • Acted as court-appointed observer in the Dutch WHOA proceeding for holding company Mercon B.V. in the global restructuring for the vertically integrated coffee company, with parallel Chapter 11 proceedings.
  • Advised the ad hoc group of senior notes on the US$1.1 billion cross border restructuring of Syncreon Group Holdings B.V using a UK scheme of arrangement.
  • Represented a private equity sponsor on the €1 billion multi-jurisdictional financial restructuring of Luxembourg-incorporated industrial group Galapagos.
  • Jasper Berkenbosch has been appointed as trustee over Intertoys, a retail chain with approximately 350 toy stores in Netherlands, Germany, and Belgium, and 3500 employees. This is one of the largest retail insolvencies in Europe.
  • Advising leading Singaporean Bank on various loans in to the London real estate sector, including £200m loan secured against Canary Wharf asset.
  • Advise a NY-based credit fund as largest creditor and finance provider in the Spanish insolvency proceedings of the Petersen companies, the claimants in a USD6bn litigation pending before a NY court against the Republic of Argentina and YPF.
  • Represented PAG Asia Capital Ltd. and PAG Asia II LP in connection with their investment in Key Safety Systems, a subsidiary of China- based Ningbo Joyson Electronic Corporation, to finance the acquisition of substantially all of the global assets of Takata Corporation out of bankruptcy in the United States and Japan.
  • Advising on the restructuring of approximately US$110 million of outstanding bank debt of Plascar, a Brazilian public-traded company, through a debt for equity exchange.
  • Representing an ad hoc group of creditors in connection with Intelsat’s chapter 11 cases (Bankr. E.D. Va.). Ad hoc group is holding an aggregate principal amount of approximately $7 billion of secured and unsecured prepetition indebtedness.
  • Represent a large China-based financial institution in connection with litigation by a chapter 7 bankruptcy trustee related to certain financing transactions with a now-defunct private jet operator.

Awards

Law360 – “Practice Group of the Year” Bankruptcy, 2025, noting Jones Day’s involvement in major chapter 11 cases like the Diocese's insurer settlement.

Tier I Ranking in “Worldwide – Corporate Restructuring” in the 2025 edition of Legal 500

23rd Annual M&A Advisor  Awards - Restructuring Deal of the Year (($100MM TO $250MM)– 2024

TMA – International Company Turnaround – Transaction of the Year Award – 2024, specifically noting Jones Days representation of Diebold Holding Company, LLC

2025 – Chambers Global Wide Practice Ranking – Restructuring & Insolvency

2025 - Legal 500 – Tier 1 Ranking – Corporate Restructuring

Legal 500 United States – Ranked for Restructuring (including bankruptcy): Corporate (for over a decade) over the last several years

Chambers USA – One Band 1 Practice Ranking for Bankruptcy/Restructuring 2020-2025; Ranked in California, New York, Ohio, Texas, and USA-Nationwide throughout the last decade.

U.S. News– “Best Law Firms”– National Tier 1 Ranking, Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law – 2020-2026

20th Annual M&A Advisor Awards - Chapter 11 Reorganization of the Year (over $5B)

18th Annual M&A Advisor Awards – ($100 MM to $250 MM) Acquisition of Bang Energy by Monster Beverage

16th Annual Restructuring Energy Deal of the Year – Restructuring of Peabody Energy Corporation, et al.

15th Annual Restructuring Deal of the Year (over $1B): Diebold Nixdorf Holding Company, LLC

14th Annual M&A Advisor Awards – Restructuring Deal of the Year (over $1B): Chapter 9 Reorganization of the City of Detroit.

14th Annual M&A Advisor Turnaround Awards – Out-of-Court Restructuring of the Year ($100MM or more): AGC Networks

12th Annual M&A Advisor Turnaround Awards – Restructuring Deal of the Year (over $10B): Peabody Energy Corporation.

2019 - The Deal Awards Middle Market – Restructuring Deal of the Year: FTD Cos.

Individual lawyer honors over the last decade include: The American Lawyer Lifetime Achievement Award, New York Law Journal’s Lifetime Achievement Award; Law360 MVP for Bankruptcy; Crain’s New York Business Notable Women in Law; USA Co-Chair of the G36 committee of INSOL; Northeast Ohio’s Most Influential Women; American Bankruptcy Institute’s 40 Under 40; Rising Stars by Law360; Best Lawyers; National Law Journal; and Super Lawyers; Six Partners are admitted to the American College of Bankruptcy.

Bruce Bennett · Los Angeles / New York 
+1.213.243.2382 / 1.212.326.3680 
[email protected] 

Corinne Ball · New York
+ 1.212.326.7844 
[email protected] 

Jasper Berkenbosch · Amsterdam
+ 31.20.305.4207 
[email protected] 

Fabienne Beuzit · Paris
+ 33.1.56.59.46.67
[email protected] 

Kevyn D. Orr · Washington
+ 1.202.879.5560 
[email protected] 

Ben Larkin · London
+ 44.20.7039.5825
[email protected] 

Dan T. Moss · Washington
+ 1.202.879.3794 
[email protected] 

Roger Dobson · Sydney
+ 61.2.8272.0534 
[email protected] 

Sion Richards · London
+ 44.20.7039.5139 
[email protected] 

Juan Ferré · Madrid
+ 34.91.520.3904 
[email protected] 

Olaf Benning · Munich
+49.89.20.60.42.200 
[email protected] 

Christine Borries · Munich
+ 49.89.20.60.52.233 
[email protected]

Sushma Jobanputra · Singapore
+65.6233.5989 
[email protected] 

Francesco Squerzoni · Milan
+ 39.02.7645.4001 
[email protected] 

David Harding · London
+ 44.20.7039.5198 
[email protected]