London October 2025 - Restructuring Plan’s 5th birthday - Coming of age or facing tantrums?: Trends, challenges, and the road ahead
Five years ago, in the midst of the 2020 Covid pandemic, CIGA’s groundbreaking restructuring plan changed the landscape for turnaround professionals. Amongst other changes, cross class cram down arrived for the first time. It has proved very powerful and quickly became the tool of choice for multi-class/stakeholder and for lease portfolio restructurings. Recently, we have seen more challenges, including some successful Court of Appeal applications on large transactions. At the same time, smaller companies have been trying to work out how to use the restructuring plan cost effectively.
So where does this leave the restructuring plan? Join the Freshfields restructuring team for a seminar to unpack the current state of play, key challenges and the road ahead. Key topics that the team will discuss include:
- Statistics and outcomes from the first five years
- How cross-class cram down powers are playing out in practice
- What the courts have settled—and what’s still up for debate, including allocation of plan benefits
- The surge in complex challenges and how to manage litigation risk in fast-moving restructurings
- Whether the process is too expensive for smaller companies, or can it be successfully adapted to the SME market?
Event details
08 Oct 2025 18:00 PM - 21:00 PM EC2P 2SR Freshfields, 100 BishopsgateLondon Borough of Islington, London
Greater London, England
EC2P 2SR Show in Google Maps
Event Tickets
TMA Members
FREETMA Sponsors
FREE (£33.33 + VAT after allocated free spaces)Non-Member
£33.33 + VAT
About the speakers
Freshfields
Freshfields
Richard leads our restructuring and insolvency practice in London.
With more than 25 years of restructuring experience, he has worked extensively on ‘in court’ and ‘out of court’ restructurings/refinancings, intercreditor agreement disputes, formal insolvency appointments, high-yield bond and CMBS bond restructurings, distressed M&A, English schemes of arrangement and the new restructuring plans, US Chapter 11s, 15s and s363 sales, pension deficits, insurance workouts, telecoms, and insolvency aspects of structured finance.
Richard has acted across the capital structure for all the key stakeholders including corporates, lenders, bondholder/lender formal and ad hoc committees, creditors, shareholders, private equity sponsors, distressed debt investors and asset purchasers, directors, security trustees, administrators and liquidators.
Richard has particular cross border restructuring experience involving the UK, Europe, the US and across the globe.
Freshfields
Freshfields
Caroline is a senior associate in Freshfields’ London restructuring and insolvency practice.
Caroline’s practice is characterised by challenging mandates across the capital structure. She has acted for debtors, creditors, sponsors and insolvency officeholders on complex international and domestic transactions. Caroline has direct experience of a transactions and processes including restructuring plans, schemes of arrangement, CVAs, administrations, enforcement processes and consensual recapitalisations
Freshfields
Freshfields
Kevin is a restructuring and insolvency senior associate in our global transactions group based in London.
Kevin acts across the capital structure for a range of key stakeholders, including creditors, debtors, private equity sponsors, directors, distressed investors, insolvency officeholders and other key parties in the restructuring and insolvency market on a wide range of complex domestic and cross-border restructuring transactions.
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