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    Home /  Practices /  General Practice /  Restructuring & Special Situations

    Restructuring & Special Situations

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    Sullivan & Cromwell’s award-winning Restructuring & Special Situations Practice is pound-for-pound the most successful practice of its type. With six restructuring partners in New York and four internationally, we have had the honor of successfully resolving many of the most complex global chapter 11 cases ever filed (typically at a fraction of the cost expected) and representing distressed investors in the most profitable strategic and loan-to-own acquisitions implemented in chapter 11. The secret to this success is the integration of the Restructuring practice with the rest of S&C and the Firm’s unique ability to bring “first chair” transactional, litigation and regulatory talent to bear in a distressed environment. 

    Restructuring is the ultimate team sport for lawyers. And no other law firm can mobilize a team like Sullivan & Cromwell because no other law firm has the same combination of talent and trust. S&C’s famous transactional and litigation practices contain many of the leading names of their generations. More importantly, S&C’s celebrated internal culture means that all S&C lawyers are available to assist on every matter as if it were their own. Restructuring clients can harness all of this firepower for every Restructuring assignment, and the differential results achieved for S&C clients have been truly extraordinary.

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    Spotlight

    Mid-Year Report: Capital Solutions

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    John Horsfield-Bradbury and Kon Asimacopoulos Recognized in Financial News’ Fifty Most Influential Lawyers List

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    S&C Represents Joint Provisional Liquidators of Prince Group in Global Recovery Efforts

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    S&C Wins ‘Bankruptcy Firm of the Year’ at Benchmark Litigation’s 2026 U.S. Awards

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    Sullivan & Cromwell Strengthens London Private Capital Practice with Leading High Yield and Restructuring Partners Patrick Bright and William Needham

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    • Experience
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    Experience

    Experience

    Recent Assignments

    We represent a range of both domestic and international participants across the U.S., Europe and Asia-Pacific, including debtors, creditors and private equity investors, as well as sovereign entities, boards and sponsors in Chapter 11, Chapter 15 and other restructuring matters.

    • FTX in the use of chapter 11 to successfully resolve the most significant financial collapse of the digital era, confirming a plan that the Chief Judge in Delaware called the “model for a mega-case” and distributing over $15 billion to victims and stakeholders around the world without material plan litigation
    • SVB Financial Group in the resolution of the diversified holding company in the largest bank failure since the 2008 financial crisis

    • Kidde-Fenwal in the first “forever chemicals” product liability bankruptcy, implementing a comprehensive settlement to resolve national mass tort liability
    • The Office of the Commissioner of Major League Baseball (MLB) and a number of MLB clubs in the chapter 11 proceedings of Diamond Sports Group LLC, including winning a two day trial on telecast rights agreements, securing a substantial adequate protection package and aiding in the renegotiation of several telecast rights agreements
    • Respironics in the use of chapter 11 ringfencing techniques to help settle the mass tort exposure of one of Phillips’ US subsidiaries at a fraction of the multi-billion-dollar expectations of public market analyses
    • Deerfield Management Company as leading creditor in the chapter 11 cases of Invitae Corp., Sientra Inc., Nanostring Technologies, Pipeline Health Systems, Mallinckrodt plc, and Endologix Inc.
    • Oaktree Capital Management as leading creditor in the chapter 11 restructuring of SiO2 Medical Products, Inc., Athenex Inc., and Impel Pharmaceuticals
    • Garrett Motion in its legacy asbestos liability management activities, chapter 11 proceeding and global reorganization
    • California Resources Corporation in its restructuring of $4.4 billion in debt, including $1.1 billion debtor-in-possession financing and complex chapter 11 plan of reorganization, completed in under three months
    • The unexpected rescue of Eastman Kodak in a two-year, 135-country global reorganization, including the exit of Kodak from dozens of business lines to concentrate on its future
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    Rankings and Recognitions

    Rankings and Recognitions

    • ‘Corporate Practice of the Year’

      November 15, 2024
    • John Horsfield-Bradbury and Kon Asimacopoulos Recognized in Financial News’ Fifty Most Influential Lawyers List

      June 8, 2026
    • S&C Wins ‘Bankruptcy Firm of the Year’ and Jim Bromley Wins ‘Bankruptcy Litigator of the Year’ at Benchmark Litigation 2026 U.S. Awards

      March 16, 2026
    • S&C Shortlisted for Five Benchmark Litigation 2026 U.S. Awards

      January 14, 2026
    • Kay Ian Ng, Ching-Yang Lin and Jacqueline Wenchen Tang Recognized in China Business Law Journal’s ‘The A-List 2025-26: Growth Drivers’

      January 12, 2026
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    News

    News

    • S&C Advises Ad Hoc Committee of Noteholders on Recapitalisation of Italy’s Reno De Medici

      Client Highlights July 17, 2026
    • S&C Represents Joint Provisional Liquidators of Prince Group in Global Recovery Efforts

      Client Highlights July 7, 2026
    • S&C Advises Linqto Through Confirmation of Chapter 11 Plan of Reorganization

      Client Highlights February 19, 2026
    • Andy Dietderich, Brian Glueckstein and Jake Croke Discuss FTX Bankruptcy on Debtwired! Podcast

      Press Mentions February 2, 2026
    • S&C Defeats $944 Million in Claims Against SVB Financial Trust

      Client Highlights October 13, 2025
    • S&C Obtains Dismissal of Claims for Argentina in Litigation Over GDP-Linked Securities

      Client Highlights October 3, 2025
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    Publications, Videos and Podcasts

    Publications, Videos and Podcasts

    • Mid-Year Report: Capital Solutions

      Newsletters |  July 7, 2026
    • Protecting the Group from Subsidiary Risk

      Articles |  June 16, 2026
    • OFAC Issues General License Authorizing Certain Activities Involving Venezuelan-Origin Oil

      Memos |  January 30, 2026
    • Venezuelan Investment: Investing Within the Existing U.S. Sanctions Framework

      Memos |  January 14, 2026
    • S&C Lawyers Contribute to Latin Lawyer’s Guide to Corporate Crisis Management – Sixth Edition

      Books |  December 18, 2025
    • German Federal Court of Justice Decision on Wirecard Insolvency

      Memos |  November 14, 2025
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    Practice Contacts

    Practice Contacts

    James L. Bromley Headshot Photo
    James L. Bromley
    New York
    +1-212-558-4923
    Email
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    Andrew G. Dietderich Headshot Photo
    Andrew G. Dietderich
    New York
    +1-212-558-3830
    Email
    vCard
    Brian D. Glueckstein Headshot Photo
    Brian D. Glueckstein
    New York
    +1-212-558-4000
    Email
    vCard
    Kon Asimacopoulos Headshot Photo
    Kon Asimacopoulos
    London
    +44-20-7959-8900
    Email
    vCard
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    Related Practices

    Related Practices

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    • Mergers & Acquisitions
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