Akin Gump Strauss Hauer & Feld has added a three-partner restructuring team in London from Weil Gotshal & Manges to bolster the firm’s global creditor-side business.
The team is led by Neil Devaney, who is named head of London financial restructuring, alongside fellow partners Lois Deasey and Matt Benson, all of whom make a return to Akin. The team’s practice focuses on advising credit investors on cross-border restructurings and capital solutions.
Akin co-chair and financial restructuring partner Abid Qureshi said: “Neil, Lois and Matt are advisers that leading global credit investors consistently turn to. They bring a cross‑border sophistication that enhances the integrated US-Europe restructuring platform that’s already central to who we are as a firm.
“Their return strengthens our entire creditor‑side franchise, from restructuring to special situations, capital solutions and hybrid capital, and ensures we can serve the same clients seamlessly across jurisdictions and the full spectrum of stressed and complex capital structure work.”
Devaney returns to Akin after six and a half years at Weil, where he was co-head of restructuring in London. He previously spent five years at Akin, having earlier been a partner at legacy firm Bingham McCutchen and an associate at Skadden and Hogan Lovells. He regularly advises ad hoc creditor groups, credit funds and institutional investors on pan-European restructurings, alternative investments and distressed and special situations.
Deasey returns to Akin after just under four years at Weil. She previously spent almost eight years at Akin, having joined from Bingham McCutchen alongside Devaney. She started her career at Slaughter and May. She advises funds, private placement investors and creditor groups on restructurings and distressed situations.
Benson returns after six years at Weil, having joined six months after Devaney’s arrival. He previously spent three and a half years at Akin in London, having relocated from Australia where he practised at Ashurst and Henry Davis York. He advises funds and creditor groups on cross-border restructurings, distressed financings, private credit workouts and creditor-driven enforcement strategies.
Barry Russell, senior partner of Akin’s London office, said: “We have built and maintained a Band 1 restructuring practice in London for the past 20 years. In their time away from the firm, Neil and the team have also built a Band 1 restructuring practice at another leading law firm in London.
“Their arrival at Akin brings together those practices and provides the leadership and depth of experience to carry our business forwards through the next generation, ensuring our clients will continue to receive the highest level of service for years to come.”
Much of the recent restructuring hiring activity has been in the US, where earlier this month Kirkland & Ellis hired Wachtell Lipton Rosen & Katz’s finance and restructuring practices head Joshua Feltman in New York.
In March, Simpson Thacher & Bartlett added a partner duo from Kirkland to strengthen its newly launched US capital solutions practice.
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