The prediction was that 2026 would see no respite in the flurry of restructuring activity already underway over the last year. Over the first quarter we have seen a torrent of activity driven not merely by pre-existing market factors but triggered also by some unforeseen and even dramatic developments.
The collapse of UK bridging loan provider Market Finance Solutions has pulled at least a dozen law firms into a saga embroiled in double-pledging and fraud, as lenders race to recover what they can. The US-Israeli attacks on Iran at the end of February, and the subsequent closure of the Strait of Hormuz, have hit multiple industries reliant on fuel, gas and other commodities.
9fin’s Q1 26 European league tables for law firms advising on restructurings and LMEs — our second set after the inaugural ones in January — reflect this activity.
Our rankings are based on our own reporting and information provided by the firms at our request. We accepted deals that either began or closed in the first quarter or both (see more on criteria below).
Several situations concluded over the period. For instance, Kirkland & Ellisacted as a company side advisor of Dutch...
