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Allen & Overy
Bishops Square
Allen & Overy LLP
One Bishops Square
London
E1 6AD
United Kingdom

Tel: +44 (0)20 3088 0000
Fax: +44 (0)20 3088 0088

for other worldwide offices please contact:
stephen.denyer@allenovery.com

or visit www.allenovery.com

Most innovative law firms 2016: Innovation in restructuring and re-organisation (2)

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AwardHighly commended
Total innovation score24
Originality7
Rationale9
Impact8
DescriptionDrove the transformation of the Co-operative Group's corporate governance, winning support from an initially resistant membership. Commended: Richard Slynn and Willoughby Knight.

Most innovative law firms 2016: Innovation in restructuring and re-organisation

View full ranking
Choose from rankings list
Next
Rankings at a glance
AwardStandout
Total innovation score27
Originality9
Rationale9
Impact9
DescriptionRepresented the deal managers in the restructuring of Piraeus Bank during the 2015 Greek banking crisis. Faced with the challenge of persuading bondholders to swap their debt for equity in a difficult market, they had to move fast. Because some bonds were held by public investors, any new offer had to be accompanied by an approved prospectus that would take weeks to prepare. Lawyers created a new holding instrument to allow bonds to be traded for the right to receive cash or equity once the prospectus had been prepared, leading to a successful recapitalisation. Commended: Stephen Miller and Tom Grant.

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