Restructuring & Insolvency Advisers 2019: Analysis

In the first edition of WWL: Restructuring & Insolvency Advisers we identify 200 of the leading non-lawyer experts in the field worldwide. These individuals include administrators, liquidators and other court-appointed officials, as well as professionals providing advice in relation to financial restructuring and refinancing transactions, turnaround of distressed companies and wind-downs.


Who's Who Legal does not list law firms, only individual experts. The leading firms are those in each region whose listed practitioners received the most total nominations in our research. We highlight individuals at other firms who also scored very highly in our research.
The Global Elite Thought Leaders are those individuals who received the highest number of nominations from peers, corporate counsel and other market sources this year. Our research has identified them as being truly outstanding practitioners and the very best in their field.

North America

Global Elite Thought Leaders
1. Doug McIntosh Alvarez & Marsal, Toronto
2. Greg Prince PwC, Toronto
3. Greg Watson FTI Consulting, Toronto
4. Lisa Donahue AlixPartners, New York

Leading Firms

FTI Consulting

This outstanding firm has a great reputation for work in the field and sees eight practitioners recognised.
Greg Watson performs exceptionally well in our research and is identified as a Global Elite Thought Leader. He has in-depth experience of the field, having worked with directors, lenders, shareholders, and creditors in both in- and out-of-court restructurings,
Paul Bishop is an “absolutely excellent” restructuring and insolvency adviser, remark peers. He has expansive knowledge of the field, in industries including pharma, coal mining, and marketing.
Deryck Helkaa is highly praised as “one of the market leaders in Calgary”. He has strong expertise in the oil and gas industry, advising shareholders, management, and debtor companies on an array of matters.
Dean Mullett enjoys a great reputation for his restructuring and insolvency work, advising clients in sectors including energy, real estate, transport and construction.


This global powerhouse sees four advisers listed for their outstanding work in the field.
Gregory Prince is a leading name in the restructuring and insolvency space in Canada. He offers clients particularly strong experience in the devising of strategy for corporate reorganisations.
Mike Vermette provides expert advice to distressed companies within several industries including agriculture, technology, and construction. One peer comments that he is “top of the market”. 


This firm performs strongly this year, with eight individuals recognised for their expertise.
“Number-one guy” Murray McDonald is an “excellent restructuring practitioner” who provides expert advice to stakeholders on numerous complex issues, with particular skill handling cross-border matters.
Michelle Grant receives high commendation from peers in this year’s research, who call her a “terrific” practitioner, and a “force to be reckoned with in Vancouver”.
Alex Morrison is recognised for his stellar restructuring and insolvency advisory work. Peers remark that he is an “excellent restructuring practitioner” who is “very strong and capable”. 

KSV Advisory

Two exceptional practitioners are highlighted here for their work in the field.
Bobby Kofman is recognised as an “excellent practitioner, particularly in lender advisory”. He has significant experience advising a range of stakeholders on formal and informal restructuring proceedings.
David Sieradzki is a highly skilled practitioner with a wealth of experience in the field. He has strong expertise assisting both debtors and creditors in both domestic and international matters, including solvent company wind-ups. 

Other Leading Individuals


Doug McIntosh of Alvarez & Marsal performs extremely well in our research and is selected as one of the Global Elite Thought Leaders for his work in the field. Respondents comment: “He does the big cases” and is “highly respected as an adviser to lenders”.

Bill Aziz of BlueTree is “everyone’s first name when it comes to interim governance solutions”, according to impressed interviewees. He has in-depth experience of the field having worked on “a number of very large cases”.

Randy Benson of RC Benson Consulting “comes to mind as a chief restructuring officer”, remarks one peer. He has particularly strong expertise in stakeholder management and operational restructuring. 


Lisa Donahue at AlixPartners is a top-quality name in the US for the representation of companies in turnarounds and complex restructurings. Sources say, “Lisa has done a great job and has become a pre-eminent name."

At Lazard, David Kurtz heads the firm’s restructuring offering and offers clients decades of experience advising on complex issues in the space.
Timothy Pohl is regarded by peers across the US as one of the top names in the space, with some 25 years of experience in corporate restructuring matters.


Global Elite Thought Leaders
1. Weicheong Tan Deloitte, Singapore
2. Luke Furler AJCapital Advisory, Singapore
3. Paresh Jotangia EisnerAmper, Singapore

Leading Firms

FTI Consulting

This top firm sees six of its professionals in the region listed for their restructuring and insolvency work.
Joshua Taylor gains international recognition for his stellar restructuring and insolvency practice. He has nearly 20 years’ experience advising clients such as creditors, investors and companies.
Daniel Chow impresses market sources who consider him a top name in the field. One respondent comments that Chow is a “pragmatic and effective solution-finder who possesses excellent industry knowledge”.
Vincent Fok is a first-rate restructuring and insolvency practitioner who is “extremely thorough and easy to work with”. He has in-depth knowledge of solutions such as scheme of arrangement and capital reorganisation.
Nick Gronow is a prominent figure for restructuring and insolvency work with over 20 years’ experience advising bondholders, private equity funds and banks. 


This firm obtains two listings, including one Global Elite Thought Leader.
Weicheong Tan comes top of our research in the region and is named as a Global Elite Thought Leader. He is acclaimed as “brilliant at deal-structuring” and provides “very good solutions alongside the ability to think outside the box”.
Andrew Grimmett is a “very experienced insolvency practitioner in the Singapore market” who provides expert advice on debt restructuring plans and other complex matters, assisting a range of creditors and corporations. 


This firm’s Singapore office sees two brilliant professionals highlighted.
Paresh Jotangia is internationally recognised as an outstanding restructuring and insolvency adviser. He is praised for his “decisiveness and tactical acumen”, as well as his “deep knowledge of the subject area”.
Seshadri Rajagopalan is “one of the senior statesmen of restructuring in Singapore”, opine sources. He has in-depth knowledge of matters such as divestment of assets, turnarounds and schemes of arrangement. 

Other Leading Individuals


James Stewart of Ferrier Hodgson is a very well-regarded practitioner, who is “really good in retail restructuring”, say sources. He has represented numerous major retailers in Australia providing expansive knowledge of turnaround and restructuring strategies.
Peter Gothard has a “great market presence” in the restructuring field, with widespread experience advising clients in the cement, textiles, agriculture and finance industries.

Peter Anderson of McGrathNicol is an “excellent operator” with over 25 years’ experience of assisting clients across a range of industries. He is familiar with the gamut of issues such as managed wind-downs and formal insolvency management.

Hong Kong

Cosimo Borrelli of Borrelli Walsh is “an absolute must for this list”, one source comments. “His knowledge on worldwide insolvency matters is second to none."

Ted Osborn of PwC has nearly 25 years of experience in insolvency and restructuring and draws praise from peers for his excellent work advising banks, debtors, investors and bondholder groups.
Christopher So is a top-notch adviser with impressive knowledge of matters relating to cash flow review, cross-border receivership and derivative valuation.

Rosalie Lui of KPMG has expansive knowledge of cross-border insolvency matters, as well as stakeholder advisory mandates, and is experienced as a liquidator.

Bob Yap enjoys a fine reputation in the Hong Kong restructuring and insolvency market. He works with clients across a broad range of industries, such as oil and gas, pharma and financial services. 


Luke Furler of AJCapital Advisory performs very well in our research with sources calling him “a strong technical practitioner”, and a “very good communicator who takes a practical and sensible approach”.

Mark O’Reilly of Borrelli Walsh earns recommendations from across the Asia-Pacific region for his capabilities in the area, including acting for creditors and debtors.

Aaron Loh of EY is “very commercial and comes up with creative solutions”, report interviewees, who add that he is known for “working on the cutting-edge cases”.
Angela Ee comes “highly recommended in the market” for her excellent work in the field. She is instructed by clients from a range of industries and is regularly engaged on cases in the oil and gas and real estate sectors.

Holly Yuen of Madison Pacific is a “go-to name in the field, particularly in trustee and alternative appointment matters”, comment respondents. She provides expert services to a range of clients, such as banks, stakeholders, funds and institutional trustees.


For the purposes of this editorial, the following jurisdictions are considered “offshore”: Bermuda, British Virgin Islands, Cayman Islands, Guernsey and Jersey. This definition is to enable the grouping of multi-jurisdiction offshore law firms who would otherwise have to be covered across multiple geographical regions.
Global Elite Thought Leaders
1. Andrew Morrison FTI Consulting, Grand Cayman
2. David Griffin FTI Consulting, Grand Cayman
3. Alex Lawson  Alvarez & Marsal, Grand Cayman
4. Eleanor Fisher  Kalo, Grand Cayman

Leading Firms

FTI Consulting

Five excellent professionals from this firm are listed in the offshore region.
Andrew Morrison is named as a Global Elite Thought Leader this year when it comes to restructuring and insolvency matters. He earns adulation from respondents, who remark that he has “an unrivalled level of understanding and commerciality”.
David Griffin is “one of the best in the business” effuse sources who applaud his “exceptionally good grasp of insolvency principles” as well as his “calm nature that facilitates a good working relationship in a contentious environment”.
Nilani Perera is “very knowledgeable and has excellent communication skills” opine commentators, who praise her “efficiency and good manner with difficult parties”.
Sarah Mylott is praised for her “technical expertise and commercial pragmatism” she brings to mandates. She has an “excellent reputation” in the field and “a real flair for unravelling complex financial information”.
Sandipan Bhowmik is recognised for his outstanding practice, which involves working on complex restructurings in a range of industries such as retail, manufacturing and property.


This top firm sees five practitioners recognised for their work in the field.
Mike Morrison in the firm’s Bermuda office is a well-regarded practitioner with over 20 years’ experience in the field. He has extensive experience of providing expert restructuring and insolvency advice to clients in the insurance and reinsurance industry.
Russell Crumpler is managing director of the BVI office and is highly regarded for his restructuring and insolvency expertise. He is a regular fixture on major insolvencies in the jurisdiction.
Kris Beighton stands out for his work in the field and is praised for being “a very good deal maker”. He works with clients in a range of areas such as banking, insurance and energy.

Alvarez & Marsal

This firm obtains four listings this year.
Alex Lawson’s “commercial judgement and ability to problem solve are second to none” effuse sources, who add that he keeps “a cool head under pressure and is a pleasure to work with at all times”.
Chris Kennedy is “an impressive insolvency practitioner” with a wealth of experience in the field. Sources note: “Chris is very commercially minded and always has an excellent grasp of the detail on any job.”
Keith Blake has over 30 years’ experience and excellent knowledge of the restructuring and insolvency arena. One respondent remarks that Blake “has seen everything there is to see and uses his experience to great results”.
Barry Lynch is recognised here for his strong restructuring and insolvency practice which sees him advise clients in the Cayman Islands, UK and numerous other countries. 

Grant Thornton

This distinguished firm stands out with three excellent restructuring and insolvency advisers listed.
Margot MacInnis’s “knowledge and expertise is astounding”, comments one source. She is “an excellent team player who is extremely efficient in recognising issues and creating an action plan to resolve them”.
Hugh Dickson is “an excellent insolvency practitioner” who often works with emerging markets. He has notable expertise in the restructuring and resolution of non-performing assets and debts.
John Royle is recognised by peers in the Cayman Islands and internationally for his superb work in the insolvency field. 


This firm obtains four listings here, with one Global Elite Thought Leader highlighted.
Eleanor Fisher is one of the top names in our research and is a Global Elite Thought Leader in the field. Sources “highly rate her” and praise her “excellent understanding of international cases”.
Paul Pretlove is highly experienced dealing with company issues, including liquidations and regulatory compliance. He provides first-rate services to stakeholders in formal insolvency proceedings.
Gordon MacRae is “highly experienced and an excellent operator” who offers outstanding assistance to clients in formal restructuring and liquidation procedures.
Tammy Fu is a well-known name in the Cayman Islands for her work in the field of restructuring and insolvency.


Six professionals from this firm are identified.
Mike Penner is regarded as “the consummate professional” and is highly regarded for his work in the field. “To me,” remarks one source, “he is a go-to on any controversial appointment.”
Stuart Sybersma “is well regarded both in the local market and internationally”, comment impressed peers. He works with a range of clients such as insurance companies, investment funds and banks. 

Krys Global

Sees four practitioners selected for their work in the field.
Andrea Harris is “incredibly conscientious and clearly has a great depth of knowledge” say sources, who add: “Her report writing is accurate and concise and sets her apart from other insolvency practitioners.”
Timothy Le Cornu “has a wealth of experience and knowledge”, comments one respondent. He has strong expertise in liquidations and formal insolvency appointments. 

Other Leading Individuals


John McKenna of Finance & Risk Services is internationally recognised as an outstanding restructuring and insolvency adviser. He has a particular experience with schemes of arrangement.

Cayman Islands

Simon Conway of PwC comes highly recommended for his excellent practice, which covers a range of matters, most notably for companies in the financial sector, including hedge funds.

Michael Pearson of Fund Fiduciary Partners is a standout figure in the restructuring and insolvency space with experience as a liquidator and trustee. He works regularly with banks, funds and institutional investors. 


Leading Firms


Seven individuals from this firm are identified for their restructuring and insolvency advisory work.
Rainer Bizenberger is recognised for his exceptional advice on restructuring and insolvency matters. He works with clients in numerous industries to provide assistance on restructuring and transformation programmes.
Alastair Beveridge offers strong restructuring and insolvency advice to a range of financially distressed businesses. He is highly experienced in relation to formal insolvency appointments.
Simon Appell has over 30 years’ experience working with stakeholders and companies on restructuring and insolvency matters. He has strong expertise in profit-and-loss and balance sheet matters.
Michael Dorn garners recognition thanks to his astute knowledge of the field. He helps companies with turnaround, transformation and restructuring processes.
Sophie Barbe has over 15 years’ experience providing high-quality expert services relating to turnarounds. She works with both debtors and creditors in complex restructurings. 


This esteemed firm sees eight practitioners highlighted in the EMEA region.
Guillaume Cornu offers in-depth knowledge of restructuring and insolvency matters to lawyers, stakeholders and bankers. He has over 30 years’ experience advising on transactions, restructuring and growth strategy.
Jo Hewitt is a very well-regarded restructuring and insolvency adviser who works with a variety of stakeholders on complex domestic and international matters, including in offshore jurisdictions. 


This top firm obtains six listings here.
Ian Wormleighton is a highly distinguished adviser with impressive experience. He regularly works with clients in the oil and gas, financial services, and real estate sectors, among others.
Rob Harding is recognised for his excellent work imparting expert advice to lenders, corporates and directors on a range of complex restructuring and insolvency issues. 

Other Leading Individuals


Derik Evertz of Brinkmann & Partner is a well-regarded and experienced name in the German market who draws praise for his excellence handling restructuring mandates.


Fedele Pascuzzi is a first-rate restructuring and insolvency practitioner in PwC’s Milan office. He offers specialist advice on a range of matters such as restructuring, distressed debt acquisition and business plan reviews. 

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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

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