Bond Restructuring

The Milbank Financial Restructuring Group is a leader in corporate restructurings globally. Partners in the group are listed in the Guide to the World's Leading Insolvency and Restructuring Lawyers, International Who's Who of Insolvency and Restructuring Lawyers, Global Insolvency and Restructuring Review, and Guide to the Leading Asia Pacific Insolvency and Restructuring Lawyers.

Members of our European offices have been active in the group, representing, for example:

• Ad Hoc Committee of Senior Bondholders in the successful restructuring of £1.3 billion of indebtedness of Drax Holdings Limited and its subsidiaries;

• Creditors of Teesside Power Limited;

• Ad Hoc Committee of Noteholders of Global Telesystems Europe (Esprit);

• Official Creditors' Committee in the Chapter 11 case of ICO Global;

• Official Creditors' Committee in the Chapter 11 case of Enron Corp.;

• Lernout & Hauspie Speech Products N.V., L&H Holdings USA, Inc. and Dictaphone Corporation, in their Chapter 11 cases;

• Price Waterhouse as the U.K. administrative receiver and Maxwell Communications Corporation in its Chapter 11 case;

• Long Term Capital Management in an out-of-court restructuring.