The lawyers in the London-based restructuring, bankruptcy and insolvency practice (established in the late 1980s) are experts in all aspects of restructuring and insolvency work, both contentious and non-contentious, including refinancings, consensual and non-consensual workouts and the use of formal insolvency regimes (such as administrations, receiverships, liquidations, company voluntary arrangements and schemes of arrangement). The practice advises financial institutions, insolvency practitioners, corporate debtors and creditors, company directors, insurers and pension scheme trustees.

Much of our work is cross-border and Mayer Brown's recent combination with leading Asian law firm Johnson Stokes & Masters has further extended this capability.

Recent turmoil in the global markets has lead to the refinancing, restructuring and, in some cases, formal insolvency of increasingly complicated financial structures. Lawyers in the practice have been extensively involved in such instructions:

• in conjunction with colleagues in the firm's leading derivatives and structured products practice, we advise stakeholders on issues of counterparty risk and on the closeout of their derivatives, repo and securities lending transactions following default;
  
• we are advising financial institutions, creditors, other stakeholders and insolvency practitioners on the restructuring and receivership of SIVs, distressed warehousing vehicles and other structured vehicles;
  
• working with our real estate finance practice, we are experienced in advising lenders and investors on restructuring, enforcement and insolvency issues;
  
• we regularly conduct multi-jurisdictional security reviews;
  
• we act for bondholders on restructuring and enforcement options following a default;
  
• we act for insolvency practitioners, creditors, debtors and directors in formal insolvency proceedings (liquidation, administration, receivership and voluntary arrangements/schemes of arrangement).