Praised for the ‘comprehensive and seamless service’ it offers, the team at A&O Shearman is routinely called upon by national and international lenders and investors, corporations and insolvency trustees seeking assistance with restructurings and insolvencies. Leadership of the group is shared between the ‘involved’ Javier Castresana, who handles debt restructurings and restructuring plans, Jimena Urretavizcaya, who specialises in pre-insolvency debt restructurings, Ignacio Ruiz-Cámara, who has focused his practice on restructurings, leveraged finance, real estate and project finance, and Juan Hormaechea, who excels in debt restructurings and investments in distressed assets.

Cuatrecasas‘ group is regularly instructed by creditors, debtors, management teams and shareholders seeking support with restructuring transactions and insolvency proceedings. The team is proficient in matters ranging from refinancings and distressed M&A, to loan substitutions, alternative financing, and cross-border insolvency proceedings. Madrid-based Ignacio Buil steers the practice and specialises in financing, refinancing and debt restructuring agreements. Additional contacts in the Madrid office include Patricia Álvarez, a name to note for restructuring deals, and Fedra Valencia, who acts for debtors and creditors in insolvency proceedings, while Barcelona-based Antonio Carreño focuses on bankruptcy and insolvency matters.

The team at Garrigues, which is noted for its ‘high level of specialisation and large number of professionals’, is a strong choice for restructuring and insolvency mandates. Core areas of expertise for the group include out-of-court refinancings, the implementation of restructuring plans, pre-insolvency and insolvency proceedings, as well as distressed M&A transactions. Practice head Adrián Thery is highly specialised in domestic and cross-border restructuring plans and bankruptcy proceedings. Additional names to note include the ‘very proactive’ Juan María Jiménez, and Borja García-Alamán, who handles insolvency law matters and distressed transactions. Juan Verdugo is no longer at the firm.

Gómez-Acebo & Pombo is equipped to assist investment banks, distressed investors, hedge funds, insolvency administrators, private equity houses and corporations with debt refinancings, insolvency proceedings and restructuring transactions. Miguel Lamo de Espinosa, who shines in corporate finance, debt restructuring and deals involving credit portfolios, and Rodrigo López, who focuses on insolvency proceedings, co-lead the team. Additional names to note include Rafael Aguilera, who is skilled in refinancing processes and debt restructurings; litigator Irene Arévalo, who frequently acts for foreign investors in restructuring processes; and Paula Zarzalejos, another name to note for debt refinancing.

Linklaters is well placed to advise on the restructuring of Spanish corporations, handle distressed assets and debt work, and act in insolvency mandates. Investors, portfolio companies, distressed debtors and their administrators regularly look to the team for support. Leadership is shared between a group of six practitioners, comprising: Francisco Sainz Trápaga, who focuses on refinancings and debt restructuring; Ben Crosse, a key contact for financial and corporate restructurings; banking practice lead Juan Barona; Begoña Martínez, another name to note for restructuring and refinancing deals; Borja Fernandez De Troconiz, whose areas of expertise include bank litigation, commercial disputes and insolvencies; and litigator Luis Valdenebro.

Lauded for its ‘outstanding technical knowledge and experience’, the restructuring and insolvency team at Uría Menéndez is a strong choice for advice on a range of matters, including group restructurings, debt refinancings, insolvency proceedings and related litigation. The practice is led by Javier Yáñez, who specialises in litigation involving corporate and insolvency law. Also noted are corporate and finance practitioners Carlos de Cárdenas Smith and Ángel Pérez López; dispute resolution specialist José María Blanco; and Sebastián Sáenz de Santa María, who garners client praise for his ‘great technical knowledge’ of debt restructuring.

Noted for its ‘high level of technical rigour and knowledge’, the team at Clifford Chance routinely advises banks, financial investors and corporations on both domestic and cross-border restructuring and insolvency mandates. Leadership is shared between Spanish office managing partner Eduardo García, Epifanio Pérez, Rodrigo Uría and Iñigo Villoria, the latter of whom is skilled at advising creditors and debtors on insolvency proceedings, debt restructuring and distressed deals. Felipe Font is an additional key contact for restructuring matters.

Latham & Watkins LLP is highly equipped to handle insolvency cases and financial restructuring processes, with a strong emphasis on creditor-side mandates. The group has particular expertise in cases that involve the design of complex capital structures and debt instruments. Pedro de Rojas directs the team, bringing extensive experience advising creditors, investors and portfolio companies on cross-border restructurings. Óscar Franco leads on insolvency litigation mandates, while Luis Sánchez stands out for his expertise in cross-border restructurings and financings.

The team at Pérez-Llorca is frequently instructed by debtors, national and international financial institutions, investment funds, private equity firms and commercial creditors seeking assistance with a variety of restructuring and insolvency matters. Core areas of expertise include subordinated claims, debt refinancings, restructurings and insolvency agreements. Leadership is shared between ‘exceptional lawyer’ Juan Oñate and the ‘always available’ Javier García Marrero. Oñate specialises in the negotiation and homologation of restructuring agreements and M&A, while García Marrero stands out for his expertise in advising financial entities on insolvency proceedings. Laura Ruiz, a name to note for insolvency litigation, and the ‘efficient and practical’ Cosme Colmenero are additional names to note.

The practice at DWF-RCD excels at handling insolvency proceedings, restructurings and refinancings, acting on the side of the debtor. The team has additional expertise with regards to insolvency administration. Barcelona-based practice head Jordi Albiol draws on notable experience assisting domestic and international companies with the management of bankruptcy cases and arrangements. Additional names to note for bankruptcy claims and insolvency agreements include Cristian Valcárcel, Bernard Afonso and Albert Díaz.

The ‘consolidated team of experienced lawyers’ at Herbert Smith Freehills LLP is well placed to handle corporate and debt restructuring, bond restructurings, the acquisition of distressed debt and insolvency proceedings. The group, which is frequently turned to by domestic and international financial lenders, is under the joint leadership of three practitioners: Nicolás Martín and Armando García-Mendoza, who bring a wealth of experience in restructuring and bankruptcy transactions, and Javier De Carvajal, who focuses on dispute resolution and insolvency proceedings. ‘Exceptional lawyer’ Jaime de San Román, a name to note for banking litigation and insolvency law, and Marta Rey are additional key contacts.

The restructuring and insolvency group at ONTIER is well placed to provide pre-insolvency advice, as well as handle the negotiation of refinancings, restructuring processes, and the presentation of insolvency proceedings applications. Practice head Bernardo Gutiérrez De La Roza, who is lauded for his ‘magnificent character’ and ‘great commitment to the client’, also acts as firm CEO and specialises in defending clients involved in insolvency proceedings. Eutimio Martínez Suárez excels in restructurings, distressed investments and insolvency mandates.

Noted by one client for its ‘vast experience’, the team at Andersen is equipped to handle corporate restructurings, debt recovery mandates, and the acquisition of distressed companies. Madrid-based Javier Mata, who specialises in insolvency proceedings, and Seville-based Marta Morales, who focuses on restructurings, jointly oversee the team. Benjamín Prieto, a name to note for civil and criminal law and bankruptcy proceedings, and ‘great professional’ Javier Lacleta are additional key contacts.

The restructuring group at Ashurst LLP handles pre-insolvency matters, including refinancings and distressed M&A transactions, as well as insolvency proceedings. Investment banks, distressed investors, hedge funds, lending banks, private equity houses and services companies routinely feature on its client roster. Managing partner Jorge Vázquez steers the practice and specialises in corporate, private equity and restructuring transactions. Also noted is José Christian Bertram, who handes acquisition finance, restructurings and refinancings.

Lauded as ‘decisive, agile and 100% professional’, the group of ‘excellent professionals’ at Baker McKenzie‘s restructuring and insolvency group is equipped to handle debt restructuring, distressed M&A transactions and formal insolvency proceedings. Leadership is shared between Madrid-based José Luis Yus and Rossanna D’Onza, along with Marc Prat in Barcelona. Yus acts for debtors and creditors in insolvency proceedings across the retail, corporate, financial and real estate sectors, while Prat focuses on litigation, and D'Onza specialises in debt restructuring. The ‘diligent, attentive, competent’ Laura Camarero is an additional key contact for restructuring negotiations and cross-border insolvency mandates.

‘Good technical knowledge, high involvement and practical approach’ are the calling cards of the team at Ceca Magán Abogados, which is regularly sought out by banks, financial institutions and insolvent companies for its expertise in restructuring and insolvency cases. Madrid-based José Carlos González Vázquez, who focuses on corporate governance, restructuring and insolvency proceedings, and Barcelona-based Santiago Torent, a name to note for restructuring deals, share leadership of the practice. Bankruptcy and restructuring specialist Raúl Villarín is an additional key contact. Amado Giménez joined the firm from ONTIER in November 2024.

The team at CMS Albiñana y Suárez de Lezo, which is lauded for its ‘solid experience in complex bankruptcy law matters’, is equipped to act for debtors and creditors alike in a range of restructuring and insolvency mandates. Juan Ignacio Fernández Aguado steers the practice and specialises in bankruptcy law and litigation. Dispute resolution and insolvency specialist Elisa Martín garners client praise as ‘brilliant from a technical perspective’.

Dentons‘ newly launched restructuring, insolvency and bankruptcy practice is led by Santiago Hurtado, who joined the firm from Simmons & Simmons in February 2023. Mercedes has extensive experience in litigation and corporate matters related to shareholder conflicts, as well as distressed and special situations. The team is now well equipped to represent a diverse range of clients, including prominent names in the financial services sector, in both out-of-court restructurings and judicial insolvency proceedings.

J Almoguera Abogados‘s team offers ‘great technical quality’ and specialises in out-of-court arrangements, insolvency proceedings and litigation. Leadership of the group is shared between Jesús Almoguera, Eduardo Vázquez De Prada and Carlos González Pulido. Almoguera draws on extensive experience advising private equity firms, hedge funds, banks and companies on a range of restructuring and insolvency mandates; Vázquez de Prada and González Pulido also handle corporate work, litigation and arbitration matters.

The ‘highly cohesive’ team at Kepler Karst is routinely instructed by local and international debtors and bankruptcy trustees seeking assistance with a range of restructuring and insolvency matters. The practice is co-led by Davinia Sánchez and Armando Betancor, who are noted for their ‘great expertise and great recognition in the field’; both practitioners handle bankruptcy matters, corporate restructurings and M&A transactions involving distressed assets.

Noted for its ‘extensive experience’, the team at PwC Tax & Legal Services is well placed to advise banks, financial entities and debtors on restructuring and pre-insolvency matters. The group has additional experience acting as receivers in bankruptcy proceedings. Nicolás Molina draws on experience as an insolvency administrator in proceedings involving the agricultural, construction, and tech segments. Former practice head Manuela Serrano is no longer at the firm.

The ‘excellent, proactive’ team at Ramón y Cajal Abogados routinely handles group restructurings, debt refinancings, and creditors’ rights and board liability issues. Following the March 2024 departure of practice co-head Amado Giménez, Ramón Fernández-Aceytuno steers the group and specialises in business restructuring processes, advising companies and financial institutions on pre-insolvency and insolvency proceedings. Carmen Fernández-Hontoria is an additional key contact for insolvency law and civil litigation.

The practice at Simmons & Simmons is routinely instructed by domestic and foreign banks seeking assistance with compulsory insolvency proceedings and claw-back actions. The team has additional expertise advising Spanish real estate companies on the transfer and acquisition of participations in distressed syndicated loans of Spanish corporate borrowers. Andrés Mochales steers the group and specialises in litigation, arbitration and bankruptcy mandates. Ricardo Orive focuses on litigation matters related to insolvency procedures.

Squire Patton Boggs acts for lenders and creditors in mid-market debt restructurings, refinancings and loan workouts. A go-to destination for banks seeking assistance with the restructuring of distressed corporate debt, the team is proficient in both non-contentious and contentious matters, with a particular emphasis on cross-border recovery and creditor protection claims. Manuel Mingot brings deep expertise in debt restructuring and refinancing, while Fernando Gonzalez specialises in insolvency proceedings.