Clifford Chance appoints Philip Hertz as Global Head of Restructuring and Insolvency
3 May 2016
Clifford Chance appoints Philip Hertz as Global Head of Restructuring and Insolvency
Clifford Chance has appointed Philip Hertz as the firm's new Global Head of Restructuring and Insolvency, taking over from Mark Hyde, who has held the post since 1998. Mark will remain in Hong Kong and continue to play an active fee-earning role in the group, and Philip continues in his role as leader of the practice in London.
Rob Lee, Global Practice Area Leader for Finance, comments: "I am delighted that Philip is accepting this role. He has a reputation for both being at the forefront of his field, and giving commercial, practical advice to clients facing complex and testing situations. He is perfectly-placed to lead the global Restructuring and Insolvency Group from strength to strength.
"Thanks also to Mark who, over the course of almost two decades, has fashioned our pre-eminent restructuring and insolvency group. His work on pioneering transactions such as Monier and Dubai World have shaped the industry and his continued active role will be invaluable at a time when the team's services are much in demand."
Philip adds: "I am greatly looking forward to working with my colleagues across the Clifford Chance network. The fact that we have genuine restructuring experts across the globe has always been a strength, not only positioning us well to support clients across multiple jurisdictions on high end, complex and cross border restructurings but also giving us the international perspective to drive innovation."
Philip Hertz joined Clifford Chance in 1991 and became a partner in 2002. His practice involves general insolvency and restructuring work and his current workload includes advising the Ad Hoc Committee of Bondholders on Spanish group Abengoa, probably the largest restructuring ever in Europe, and Scholz Holding GmbH, the largest restructuring in Germany. He has also been involved in many other landmark restructurings including most recently H.C.Starck and APCOA, which featured an innovative change of law scheme. He is a member of the Association of Business Recovery Professionals; INSOL, and a member and past president of the Insolvency Lawyers’ Association. Philip is the co-author of the chapter “Schemes of Arrangement” in Tolley's Insolvency Law and “Compromising Shareholder Claims both generally and in listed companies” in The Law and Practice of Restructuring in the UK and US.
Clifford Chance's restructuring group is consistently top rated firm by Chambers Global, Chambers UK and Chambers USA. The group specialises in complex multi-jurisdictional restructurings and insolvencies has dedicated resources in key European jurisdictions, the USA and Asia Pacific. In recent years it has been involved in advising on some of the most important restructurings and insolvencies taking place across the globe, including Seat PG SpA, Saur, Codere, APCOA, Imtech, Vivacom, Mercator, CEMEX, Dubai World, Drydocks World, Co-operative Bank, Colonial, Southern Cross, Punch Taverns, Independent News & Media, Metrovacesa and PRISA.