Restructuring

Practice

We are market leaders in U.S. and international restructurings and insolvencies, with extensive experience representing a wide range of parties.

Summary

Companies, directors, financial institutions, institutional investors, hedge funds, acquirers, trustees and administrators call upon us to design and execute value-maximizing strategies. We are critical advisers in restructurings in and out of court, liability management transactions, recapitalizations, exchange offers, debt/equity conversions, distressed M&A and bankruptcy litigation.

Our lawyers in the United States and Europe have advised on high-profile restructurings across industries including energy, retail and transportation – among them, Aeroméxico, California Resources, Chesapeake Energy, Delta Air Lines, Ford, Hertz, Purdue Pharma and Toys “R” Us. We are a premier firm for international and cross-border restructuring, including in Europe, Asia and Latin America.

Clients look to us as leaders in DIP and exit finance, where we work as a single team with our Finance lawyers. We also collaborate seamlessly with colleagues in areas including Capital Markets, IP & Commercial Transactions, Mergers & Acquisitions, Real Estate and Tax. 

Highlight

“Davis Polk offers exceptional strength in its preeminent group of bankruptcy and restructuring attorneys.”

– Chambers USA

Insights

In-Depth: Insolvency, 14th Edition

Recognition

Band 1 in Bankruptcy & Restructuring

The Elite
Chambers USA

Restructuring Team of the Year

IFLR Americas Awards, 2024 and 2025

Latin America Practice of the Year: International

GRR Awards, 2026

Bankruptcy Practice Group of the Year

Law360, 2018, 2021 and 2023

Bankruptcy Law Firm of the Year

Chambers USA Awards, 2022

Tier 1 in Restructuring (Including Bankruptcy)

Corporate
Legal 500 U.S.

Tier 1 in Restructuring and Insolvency

United States
IFLR1000

Restructuring Deal of the Year

(Purdue Pharma chapter 11 restructuring)
IFLR Americas Awards, 2026

Large Company Turnaround/Transaction of the Year

(WeWork chapter 11 restructuring)
Turnaround Management Association, 2025

GRR 30

(10th year in a row)
Global Restructuring Review, 2026
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