Number of insolvency partners in the US: 3
Number of insolvency partners in the UK: 4
Number of insolvency partners outside the US and UK: 2 (Hong Kong)
Clients include: Bank of America, Barclays, Chase, Citibank, Deutsche Bank, Lloyd's, UBS Warburg and other financial institutions.
Work: Acting for the Fuji Bank-led syndicate; the Landesbank Schleswig-Holstein-led syndicate; the European Bank for Reconstruction and Development (EBRD); the security trustee in the restructuring of the First Commercial Bank of Latvia; the lending group of about 60 international banks in relation to the capital restructuring of Queens Moat House. Advising for the debtor Harnischfeger Industries in Chapter 11 proceedings in the US on its insolvency and restructuring issues outside the US; PricewaterhouseCoopers as liquidators in the liquidation of Hong Kong investment bank Peregrine, which operated in 15 different jurisdictions and had total claims against it of more than $20bn (£14.28bn).
The newcomer to the transatlantic party, Clifford Chance Rogers & Wells (CCRW) made its first post-merger lateral hires into the New York restructuring group.
Adding two highly-rated partners from Morgan Lewis & Bockius, Margot Schonholtz and Mark Liscio, the firm is preparing to propel its strong lender-based practice across the Atlantic.
That move is perhaps less innovative than the US firms. Acting primarily for the banks and private equity houses on senior debt, and occasionally for the corporate debtors, CCRW is the institutions' favourite, and big international jobs are its bread and butter.
With four partners in London handling a mix of restructuring, complex litigation and straight insolvency, the firm's pre-eminent finance practice keeps the work flowing in.
The practice has had to struggle with the out-of-date perception that it is depleted in London following the departures of Andrew Wilkinson to Cadwalader, Sandy Shandro to Freshfields and Ashley Booker to Manches.
But targeting the very largest multinational collapses may leave it even more stretched. Mark Hyde had to decamp to Hong Kong just after the departures when the firm scooped the Peregrine liquidation, leaving London a partner down when it arguably needed him most.
The Asian practice is booming, having recently hired Jonathon Crook from Simmons & Simmons, and CCRW is fast positioning itself as the first port of call for the mega multi-jurisdictional failures – if it can bulk up the numbers.