Lazard has the world's leading restructuring advisory practice. Over the past decade, we have advised on more than 500 restructurings worldwide, with an aggregate value of over $1 trillion.
We have guided clients through many of the largest, most complex restructurings. Clients retain us for our experience, our skills, our creative and independent approach, our relationships, and our proven ability to bring restructurings to an optimal outcome.
To help clients identify and evaluate their best options, we provide:
Unlike most other firms, our professionals combine an extensive knowledge of restructuring strategies with M&A expertise, credit analysis skills, capital markets knowledge, industry expertise and negotiation experience in distressed situations.
Lazard specializes in advising on out-of-court restructurings
and recapitalizations. We have engineered many landmark
transactions with favorable outcomes for our clients.
We negotiate with creditors on behalf of our clients, especially
in cases of financial stress or distress. Our leadership in the
restructuring field has created strong relationships and
credibility with banks, hedge funds, and financial sponsors.
We advise on and structure a wide variety of transactions,
We also structure "Pre-packaged" or "pre-arranged" bankruptcies.
These transactions require extensive negotiations before going to
court. We help clients negotiate interim forbearances from
creditors and help secure new investments from current stakeholders
or new investors as part of the broader restructuring plan.
While Chapter 11 proceedings are generally a last-choice
strategy, we have substantial experience in this area. Our
knowledge can benefit clients entering Chapter 11 , as well as
those who wish to consider Chapter 11 relative to other strategies,
such as a sale of some or all of the company or securing new
We are skilled at:
When a company has decided to sell a company or selected assets,
we team with Lazard's M&A experts for optimal results. But
sales in a distressed situation often have special requirements
that involve our restructuring expertise.
We help clients weigh the pros and cons of sale strategies,
Working closely with Lazard's Capital Markets Advisory group,
our Restructuring group advises clients in stressed or distressed
situations on capital structure and capital raising.
Our dedicated capital structure advisory team advises clients
For clients raising capital in the public markets, Lazard
advises and negotiates on their behalf in selecting lead
underwriters. We also have extensive expertise in the negotiation
and placement of private securities.
When creditors challenge a Plan of Reorganization in court,
expert testimony can be a critical factor in the resolution of a
Chapter 11 proceeding. We believe Lazard clients have an advantage
in this regard.
Our senior restructuring professionals are among the most
respected experts in Chapter 11 cases, and we have a strong pattern
of performance testifying on behalf of our clients' Plans of
Reorganization. The outcome can have a dramatic financial impact on
the enterprise going forward.
We are experienced at providing expert testimony regarding: