Media Mentions
2010
Richard Mitchell was interviewed by the BBC’s “Business Day” (February 26) regarding the growing practice of global companies filing for bankruptcy or insolvency in the countries where it is most advantageous to do so (for example, to take advantage of “pre-packaged administration” in the UK). The practice illustrates that insolvency laws have not kept up with the global nature of business. “As finance has globalized it has effectively outrun the legal boundaries with which it grew up,” Mr. Mitchell stated. “We now have global companies with complex global financial arrangements that are confronted by quite different legal requirements in different countries, which makes the process very complicated and difficult to deal with.”
Richard Mitchell, Banking and Finance - London, Finance & Banking, London, Restructuring & Insolvency
2009
Rick Mitchell discussed in an April 2009 International Financial Law Review article the negotiation of exchange offers by companies that need short-term cash and debt restructuring. "An exchange offer cuts through all jurisdictional conflicts because it is not a compulsory proceeding like an insolvency – it's entirely consensual," he explained. "It's super-charged cash, because you're not only reducing your debt, you're changing the terms of that debt." He added that exchange offers are likely to become more common. "We'll start to see people who are clever, and courageous in some cases, buying in at 15 cents on the dollar and selling to the company at 30."
Richard Mitchell, Banking and Finance - London, Corporate, Corporate - London, Finance & Banking, London, Restructuring & Insolvency
2008
Andrew Watson was quoted in the March 13 edition of Legal Week in relation to a Greek infrastructure project that McDermott Will & Emery advised on. Mr Watson said, "The Greeks have been shown where our PPPs went wrong, ironed any issues out and have really taken to the model. So far it has worked well."
Andrew Watson, Banking and Finance - London, Global Energy & Infrastructure Projects, London
