Andersen has launched its Restructuring and Special Situations department to offer comprehensive advice to national and international companies facing pre-insolvency, restructuring, and insolvency scenarios, among others. With this initiative, the firm, led by José Vicente Morote, strengthens a service that was previously provided across various departments.
“The launch of this practice is part of a natural process of consolidation and specialization of our business, providing it with a unified structure to maximize internal synergies and improve the efficiency of service to our clients”, explained José Vicente Morote, managing partner of Andersen.
In this regard, Javier Lacleta pointed out that “in a mature market like Spain, solvency problems are an element that affects all actors in the business world, so it is necessary to have specialists in this area to fully meet the needs of clients”.
For her part, Marta Morales said that “the 2022 insolvency reform has generated a greater need for specialized advice, with an approach that integrates legal, financial and strategic knowledge, which we respond to from this department”.
Support in the international Andersen network
The practice has a team of 14 professionals from the legal and financial fields. It is led by Javier Lacleta and Marta Morales, both partners at the firm, and will include other partners, such as María Soler, and Javier Mata, senior partner at Andersen and senior advisor to the new department.
Among its main services, it stands out for providing advice from a preventive perspective, anticipating risk situations, such as the design of strategies in crisis situations, pre-insolvency, negotiation and execution of restructuring plans, the search for financing, purchase and sale of productive units, acquisition of distressed loans and the management of portfolios of doubtful loans (NPLs).
Regarding the differentiating elements of this practice, Javier Lacleta highlighted “its multidisciplinary approach, with the incorporation of financial profiles into the team, which do not conflict with the firm as they do not provide audit services; and its territorial reach, since the unit has specialists in Andersen’s offices in Madrid, Barcelona, Valencia and Seville, with plans to extend to the rest of Andersen’s branches in Spain and Portugal”.
This new practice leverages Andersen’s international network, with a presence in more than 180 countries, and is fully integrated into the firm’s international Restructuring group, where Marta Morales serves as deputy coordinator. “Having a coordinated international team allows us to handle complex transactions with a cross-border component”, noted Marta Morales.
