With 10 offices strategically located around the world, Davis Polk has developed a presence in each of the leading global business centers – allowing us to provide local knowledge and experience in complex international and cross-border insolvency matters.
Our lawyers have been at the forefront of developing techniques for restructuring international businesses as corporate insolvency laws around the world are modified to favor rescue over liquidation. In recent years, these matters have become increasingly complex as debtors find themselves with significant assets in multiple jurisdictions and the subject of competing proceedings.
As a result, we fill a critical role in helping our overseas and domestic clients understand the international legal landscape, including different market conventions, intercreditor concerns and issues relating to obtaining credit and collateral support.
The landmark decision obtained in Elpida is a recent example of our work in this area, as are our major assignments involving Argentina, Lehman, Nortel and OGX. In addition, we regularly represent non-U.S. companies in connection with their distressed U.S. subsidiaries.
The firm has been involved in public and private sector debt restructurings and insolvencies in numerous countries, including:
We have also been the leading U.S.-based global law firm working, both domestically and internationally, with regulators to solve the “too big to fail” problem and with their financial institutions clients on “living wills” required under the Dodd-Frank Act. These massive bankruptcy and resolution plans require close cooperation between our restructuring lawyers and the lawyers in our Financial Institutions Group, as well as extensive coordination with numerous state, national and international regulators.