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Restructuring & Insolvency

We advise on all aspects of corporate restructuring, business rescue and insolvency, in the UK and internationally.

We provide pragmatic business-focused advice and guidance to clients facing distressed and special situations, in the UK and internationally.

Our core team of restructuring & insolvency experts is complemented by experts in other practice areas and sectors who are experienced in distressed situations. This enables us to swiftly assemble the right team and deliver pragmatic solutions in any given situation.

We advise on directors' duties, restructuring plans, contingency planning, security package enhancements and enforcement, distressed asset sales and acquisitions, non-performing loan acquisitions and work-outs, loan-to-own strategies, solvent reconstructions, counterparty insolvency issues, mitigation of insolvency risk in transactions, insolvency investigations and insolvency related claims.

Highlighted experience

  • Energy

    Gazprom (Securing Energy for Europe)

    Advising the German government on the group’s stabilisation, recapitalisation and restructuring, following the commencement of the war in Ukraine. 

  • Energy

    Markbygden Ett AB

    On the successful restructuring of its debt. This landmark restructuring secures the financial viability and continued operations of one of Europe's largest onshore wind farms.

  • FinTech

    Contis Financial Services Limited

    On its orderly wind-down and entry into special administration, setting new precedent under the Payment and Electronic Money Institution Insolvency Regulations 2021.

  • Utilities

    Octopus Energy Group

    On its takeover of Bulb Energy’s 1.5 million customers which included the first use of a statutory process available to energy supply companies in special administration.

  • Hospitality

    Wahaca

    On its successful pandemic-era company voluntary arrangement and wider debt and equity restructuring.

  • Pensions

    Hoover

    On its £0.5 billion pensions related restructuring, implemented by way of a rarely used regulated apportionment arrangement.

  • Manufacturing

    Harland and Wolff Group Plc

    Advising the group and its administrators on the restructuring and administration sale of this iconic business, best known for building the Titanic.

  • Manufacturing

    British Steel

    Advising the company in its restructuring negotiations with government and other key stakeholders.

  • Waste management

    Recycling Lives

    Advising the company and its administrators on the pre-packaged sale of various business units.

Awards & Recognitions
01
  • Quote
    “They provide good, honest and trustworthy advice.”
    Legal 500 UK 2025
  • Quote
    “All members of the CMS team are highly capable and able to deal with high volumes of work at speed. They have good engagement and are responsive throughout.”
    Chambers UK 2025
  • Quote
    “The breadth of CMS means that any sector-specific issues can be dealt with in-house and relevant expertise quickly provided.”
    Chambers UK 2025
  • Quote
    “Clear, concise, commercially focused advice and support, effectively and expediently communicated within an extremely challenging corporate, contractual and solvency environment, delivering outcomes to multiple competing international and domestic stakeholders and their numerous legal and financial advisors.”
    Con O’Neill, (former) Chief Financial Officer, Harland & Wolff
  • Quote
    “CMS are excellent - they have a well-integrated finance team and a good cross-border practice.”
    Chambers UK 2022, Restructuring/Insolvency

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Events

  • United Kingdom
    08 Apr 2026

    CMS at Fordham IP & Policy Conference

  • United Kingdom
    13 Apr 2026

    Skills for Future Facing Teams: Creating a team culture of coaching and feedback

  • United Kingdom
    16 Apr 2026

    Green claims in focus

  • United Kingdom
    21 Apr 2026

    On the Pulse webinar series 2026 - Spring/Summer

  • United Kingdom
    21 Apr 2026

    Future of Renewables Spring Seminars

  • United Kingdom
    22 Apr 2026

    Sustainable Buildings: Taking the Temperature in 2026

  • United Kingdom
    23 Apr 2026

    ESG: Breaking Down the Buzzword

  • United Kingdom
    28 Apr 2026

    Strategic expansion to India: A new chapter for UK higher education

  • United Kingdom
    28 Apr 2026

    IP Insights webinar series 2026

  • United Kingdom
    29 Apr 2026

    CMS Update Morning: Media, Sports and Entertainment

  • United Kingdom
    02 May 2026

    CMS at INTA 2026

  • United Kingdom
    05 May 2026

    Cross-Border Financial Services 2026 webinar series

  • United Kingdom
    13 May 2026

    2026 ITechLaw World Technology Law Conference in Chicago

  • United Kingdom
    21 May 2026

    Navigating Global Uncertainty: Practical Insights for In-House Teams

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