Global Restructuring Review (GRR) recognized Sidley in its 2023 GRR 100 guide and included the firm in its prestigious “GRR 30,” a list of the world’s top 30 law firms for cross-border restructuring and insolvency matters. The annual GRR 100 rankings are based on criteria such as a firm’s “top 20” cross-border restructuring and insolvency matters from the past year, the key partners at a firm, and a firm’s geographical scope.
The GRR 100 credited Sidley’s “race to the top” to the firm’s “remarkable caseload” working as international debtor’s counsel for a number of Chinese property developers. The publication commended Sidley for counseling China Evergrande, widely known as one of the most indebted companies in the world, along with Kaisa Group, Logan, Fantasia Holdings, Shimao, and Shinsun. GRR also noted Sidley’s role as lead counsel to Sunac, China Fortune Land Development, Modern Land, and RiseSun Real Estate, all of which have successfully completed significant offshore debt restructurings in recent months.
Sidley’s global Restructuring group is regularly involved in many of the largest financial and operational reorganizations throughout the U.S., Europe, and Asia. In the U.S., recent standout engagements include: the Chapter 11 filing of one of the largest reverse mortgage lenders in the U.S., Reverse Mortgage Investment Trust; the representation of a group of well-known distressed debt funds holding over US$1 billion of first-lien notes in the restructuring of a wireless communications company; a mediated settlement in the Auto Plus restructuring that resolved numerous claims and paved the way for the successful confirmation of a Chapter 11 plan; the Chapter 11 cases for high-tech indoor farming company, AppHarvest; and Merced Capital on the restructuring and acquisition of the Telford Offshore Group. In Europe, Sidley represented: The Learning Network a leading educational services provider in the Netherlands and Belgium, on the completion of its sale and associated restructuring; Travelex on its complex financial and operational restructuring; and Schur Flexibles on its successful financial restructuring. Further, Sidley advised Atento, one of the largest providers worldwide of customer relationship services and business process outsourcing, on its successful restructuring and capital raise implemented via two parallel, inter-conditional, and multi-class UK restructuring plans. The team represents corporations and sponsors facing in-court or out-of-court restructurings, individual and ad hoc groups of creditors, and third-party distressed asset acquirers; a range demonstrated by matters such as those listed above. The group’s extensive representations involve some of the largest restructurings and are characterized by complex capital structures, multi-jurisdictional considerations and a variety of challenging legal issues. The volume, breadth, and quality of Sidley’s work have contributed to its recognition as one of the leading Restructuring practices globally.