A distressing business

When bonds go bad, sometimes the only answer is to restructure. That’s where law firm Cadwalader, Wickersham & Taft comes in. Hardeep Dhillon talks to the team that has advised on many of the recent high-profile bond restructurings in Europe

It is hard to ignore the achievements of Cadwalader, Wickersham & Taft’s financial restructuring group. In its seven-year lifetime, the team has remained in the public eye after representing its clients in over 20 high-profile restructurings, among them British Energy, TXU Europe and Eurotunnel.

To add to the firm’s prestigious image, Cadwalader, Wickersham & Taft was involved as counsel to bondholders on the £140 million Polestar transaction, Europe’s first ever successful high-yield