White & Case in insolvency coup

White & Case is taking on highly-rated insolvency partner Dan Hamilton from CMS Cameron McKenna, giving the London office its first insolvency capability

Hamilton advises investors, corporates and insolvency practitioners on corporate recovery, rescue and reconstruction matters. He was involved in advising the UK Government in relation to Railtrack and also advised the administrators of Polly Peck.
The move puts White & Case just below the top-tier firms for European restructuring, as it can now offer a strong European practice, US advice on Chapter 11 and a UK insolvency capability.
In Germany, White & Case Feddersen and CMS Hasche Sigle Eschenlohr Peltzer Schäfer are two of the very few international firms to have an insolvency capability. White & Case also has a strong practice in Paris. However, up until now it has lacked a UK insolvency practice.
According to London head of finance Maurice Allen, banks want the ability to advise on a worst case scenario. “In all workouts, you need to think what will happen if it goes wrong,” he said. “In the UK, the firm that did the financing generally does the restructuring, but that’s beginning to change and oth-er firms are being brought in. Obviously, it’s advantageous to have insolvency specialists.”
The move will come as a blow to Camerons, where Hamilton is part of a team considered to be one of the leaders in the industry.
Camerons head of corporate recovery, banking and international finance Duncan Aldred said: “We don’t anticipate it affecting the relationship with any of our clients.”