Restructuring and insolvency lawyers advise on legal issues related to businesses in financial distress.
Their role spans preventative restructuring, formal insolvency processes and contentious disputes arising from insolvency. They advise both borrower and creditor clients on restructuring matters, like debt refinancing and workouts, and formal insolvency matters, like schemes of arrangement, administration and receivership.
Restructuring and insolvency lawyers juggle a mix of transactional, advisory and contentious work. Typical work might include advising on the legal and financial situation of a corporate client in financial difficulty, negotiating on their behalf with creditors to agree new repayment terms and preparing and negotiating key documents like a restructuring agreement.
Restructuring and insolvency lawyers at the leading London law firms can expect to earn between £120,000 - £150,000 at the junior end of the associate scale (up to 2/3 years’ PQE).
Mid and senior-level associates can expect to earn north of £200,000.
We have a list of salaries paid by all of the UK’s top law firms here.
London is known for having a large number of law firms with world class restructuring and insolvency practices.
Magic Circle names Clifford Chance, Freshfields and Linklaters are seen as market leaders, along with US firms like Akin, Kirkland & Ellis, Latham & Watkins and Weil.
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