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Financial Restructuring

The No. 1 Global Investment Banking Restructuring Advisor

Houlihan Lokey has the largest worldwide financial restructuring practice of any investment banking firm, with offices and experienced professionals located across the globe. Since its inception in 1988, the restructuring group has advised on more than 1,700 restructuring transactions with aggregate debt claims in excess of $3.5 trillion.

With more than 275 dedicated restructuring professionals worldwide, our group has a significant global presence. We serve clients domestically and around the world, providing extensive resources to staff each case. Our broad base of clients and extensive experience allow us to understand the dynamics of each restructuring situation and the needs, attitudes, and positions of all parties in interest.

Global Reach

Our group has significant presence domestically and internationally through our offices. We serve clients around the world. In addition to our five U.S. offices, we have dedicated local restructuring teams in:

  • Beijing
  • Dubai
  • Frankfurt
  • Hong Kong
  • London
  • Madrid
  • Milan
  • Paris
  • São Paulo
  • Shanghai
  • Singapore
  • Sydney

No. 1 Global Investment Banking Restructuring Advisor

2023 Global Distressed Debt & Bankruptcy Restructuring—Number of Deals
Source: LSEG (formerly Refinitiv).
ADVISOR DEALS
Houlihan Lokey 73
PJT Partners 64
Rothschild 51
Lazard 37
Evercore Partners 27
2023 Global Distressed Debt & Bankruptcy Restructuring—Value
Source: LSEG (formerly Refinitiv).
Advisor Value ($B)
Houlihan Lokey 103.4
PJT Partners 95.4
Lazard 83.3
Moelis 59.2
Rothschild 47.7

Houlihan Lokey advised major parties-in-interest in 12 of the 15 largest corporate bankruptcies in the U.S.

Advisor in 12 of the 15 Largest Bankruptcies 2000–2023
Source: BankruptcyData.com and Debtwire, January 2024.
(1) Houlihan Lokey advised certain creditors of the Washington Mutual Receivership.
(2) Houlihan Lokey advised a group of noteholders of Pacific Gas & Electric subsidiary National Energy Group Inc.
Company Assets ($b)
Lehman Brothers Holdings Inc. 691.1
Washington Mutual Inc.¹ 327.9
Sunac China Holdings Limited 138.2
WorldCom Inc. 103.9
General Motors Corporation 91.0
CIT Group Inc. 80.4
PG&E Corporation (Pacific Gas) (2019) 71.4
Enron Corp. 65.5
Conseco Inc. 61.4
Energy Future Holdings Corp. 41.0
MF Global Holdings Ltd. 40.5
Chrysler LLC 39.3
AIG Financial Products Corp. 37.7
Thornburg Mortgage Inc. 36.5
Pacific Gas & Electric (2004)² 36.2
Company Advisory

Houlihan Lokey has served as financial advisor to more than 925 companies, developing and implementing a comprehensive financial restructuring transaction on their behalf.

Company Advisory
Creditor Advisory

Houlihan Lokey has served as financial advisor in more than 875 creditor-side transactions, initiating, structuring, and negotiating on behalf of creditors and their constituents.

Creditor Advisory

Contact Us

Eric Siegert Co-Chairman Global Co-Head of Financial Restructuring
Eric Siegert
David Hilty Managing Director Global Co-Head of Financial Restructuring
David Hilty
Peter Marshall Managing Director Co-Head of Financial Restructuring, EMEA and Asia
Peter Marshall
Manuel Martínez-Fidalgo Managing Director Co-Head of Financial Restructuring, EMEA and Asia
Manuel Martínez-Fidalgo
Joseph Swanson Senior Managing Director Co-Head of Financial Restructuring, EMEA and Asia
Headshot of Joseph Swanson