Our dedicated restructuring team based in Budapest advises local and international clients on all aspects of restructuring and insolvency, whether in anticipation of them or in dealing with their consequences.

We take a multidisciplinary approach to a company's operational issues and offer legal solutions that reorganise, renew or stabilise the operation, enabling lenders to maximise their return and borrowers to continue their operations.

Our work ranges from reorganisation, debt restructuring and refinancing to advising in connection with bankruptcy, insolvency and voluntary winding-up proceedings, including the preparation and negotiation of settlement agreements.

Our restructuring team in Hungary is part of our Global Restructuring Group, which is one of the world's leaders. With dedicated restructuring lawyers across the Americas, Asia Pacific, Europe and the Middle East, we have the knowledge, experience and resources to address our clients' restructuring and insolvency needs on a national and international basis. Around the world, our specialist restructuring lawyers 'on the ground' have extensive knowledge of local markets and the associated challenges our clients face.


We advise our clients on all aspects of business restructuring, including the preparation of the financial restructuring and the settlement with creditors as well as the implementation of the settlement agreements.

We advise clients on:

  • Debt and asset tracing and recovery
  • Disposals, including pre-packaged solutions, distressed M&A and real estate workout
  • Distressed debt trading
  • Financial restructuring
  • Formal insolvency/bankruptcy procedures and creditor committee representation
  • Insolvency/bankruptcy-related investigation, litigation and enforcement
  • International restructuring strategy and procedures
  • Operational restructuring
  • Settlement agreements


We advise clients across a wide range of industry sectors and have particular strength in energy, financial services, healthcare, hospitality and leisure, real estate, retail, sports, technology and transportation.

Our key clients include financial institutions, real property investors and high-profile companies that seek commercial solutions to solve their debt repayment problems.

Some significant restructuring matters we have recently worked on include:

  • Global banking and financial services company – Advising a global bank in relation to the restructuring and partial refinancing of the existing credit facilities of a major Hungarian real estate developer. The transaction involved the amendment of the entire loan documentation, introducing a highly complex account management and cash-trap mechanism and making changes to the security regime.
  • Global manufacturer – Advising a leading, global manufacturer on the acquisition of the assets of a competitor via a distressed sale in the course of formal bankruptcy proceedings. The transaction proved to be the first successful bankruptcy procedure in Hungary for years - its extreme complexity required top quality, integrated legal advice spanning a number of areas of law. 
  • Public sector client – Advising a public sector body in relation to the review and amendment of a PPP Project service agreement, which was probably the largest and most complex PPP project in Hungary, in order to improve the contractual position of the public sector body and balance the risk allocation scheme of the project. 
  • Rail company – Advising in relation to the comprehensive reorganisation of a national rail group. Our legal advice comprised of almost every aspect of the complex reorganisation scheme, including the structuring, the basis for the new infrastructure operator, the EU and Hungarian law aspects of railway infrastructure management, the determination of the roles of various participants in the new structure, the transfer of assets, agreements and operational and other licences, as well as recommendations on the required legislative actions and drafting templates of the transaction agreements. 
  • Retail sector client – Advising a premier shopping mall in Budapest on the renegotiation and refinancing of its syndicated credit facilities with a group of banks. Both projects I and II for our client are seen as precedent setting flagship projects for the shopping mall market in Hungary. Our client's refinancing was – considering the number of consortium members involved – very challenging both legally and commercially and resulted in a heavily structured, multi-layered transaction with complex account operation mechanism.