Araoz & Rueda substantially boosted its restructuring and insolvency capabilities with the May 2025 hire of Ángel Alonso, a seasoned practitioner formerly at Uría Menéndez, who specialises in restructuring plans, distressed transactions and insolvency issues.

KPMG Abogados, Spain is well positioned to act for debtors and creditors in debt and corporate restructurings, reorganisations, insolvency proceedings and distressed deals; Alexandra Borrallo is the key partner-level contact.

Toda & Nel-lo launched its restructuring and insolvency practice with the arrival of Manuela Sánchez and two other practitioners from PwC Tax & Legal Services. in March 2025; Sánchez specialises in insolvency proceedings, restructuring plans, and distressed deals.

A&O Shearman‘s practice is involved in major restructuring and insolvency mandates and is frequently instructed by domestic and international lenders, distressed investors, corporations and insolvency trustees. The group is jointly led by Javier Castresana, a name to note for debt restructurings and securities enforcement; Jimena Urretavizcaya, who excels in pre-insolvency debt restructurings; Spain co-managing partner Ignacio Ruiz-Cámara; and Juan Hormaechea, a key contact for pre-insolvency debt restructurings, distressed asset investments and acquisition financing. Also noted is Lara Ruiz, who specialises in restructuring, pre-insolvency, insolvency and security enforcement matters.

A strong choice for the gamut of restructuring and insolvency mandates, Cuatrecasas is routinely instructed by financial institutions, investment funds, private equity firms, hedge funds, administrators, executives and shareholders. Core areas of expertise include refinancings, bankruptcy proceedings, distressed M&A and cross-border insolvency proceedings. Madrid-based practice lead Ignacio Buil draws on substantial expertise in financing and refinancing deals and both in-court and out-of-court debt restructuring proceedings. Additional names to note in Madrid include Fedra Valencia, an expert in insolvency proceedings and corporate and financial restructuring transactions, and Patricia Álvarez, who assists with financial and commercial liability restructurings and financing deals. Barcelona-based litigator Antonio Carreño majors in contentious bankruptcy and insolvency matters.

Garrigues' practice covers a broad range of restructuring and insolvency matters, including court-led proceedings for debtors and creditors, advice to banks, investment funds and corporations on insolvency filings, and work on distressed M&A transactions. Adrián Thery leads the practice and draws on extensive experience in both in-court and out-of-court restructuring and insolvency proceedings. Additional key contacts include Borja García-Alamán, who excels in restructuring and insolvency matters, directors’ liability issues, and distressed M&A; Juan María Jiménez, noted for his substantial experience in out-of-court refinancings and restructurings; and Pablo García Castro and Jorge Echanove, both of whom assist with insolvency and restructuring proceedings and the homologation of restructuring plans. Juan Verdugo left the firm in February 2025.

Gómez-Acebo & Pombo advises a wide range of clients, including investment banks, distressed investors, hedge funds, insolvency administrators, private equity firms and corporations, on debt refinancings, insolvency proceedings and restructuring transactions. The team is jointly led by banking and finance specialist Miguel Lamo de Espinosa, who regularly advises on corporate finance, acquisition financing and debt restructuring; and Rodrigo López, who is well-versed in litigation, arbitration and insolvency law. Also noted are Rafael Aguilera, who has extensive experience in corporate and acquisition finance, LBOs, refinancing and debt restructuring; Irene Arévalo, who focuses on insolvency law and commercial litigation; and Paula Zarzalejos, a key contact for corporate finance and debt restructuring mandates.

The restructuring and insolvency group at Uría Menéndez is well-regarded for assisting debtors, sponsors, creditors and directors on a wide range of issues, namely judicial and out-of-court restructuring and insolvency proceedings, refinancings, and distressed M&A transactions. The team is jointly led by Javier Yáñez, who focuses on insolvency-related litigation, and Ángel Pérez López, who specialises in financing transactions. Additional key practitioners include Carlos de Cárdenas Smith, a key figure in the insolvency and restructuring space; Sebastián Sáenz de Santa María, whose areas of expertise cover corporate and project finance, and debt restructuring; and José María Blanco, who focuses on dispute resolution.

Clifford Chance regularly supports banks, investors and corporations with a broad range of domestic and cross-border restructuring and insolvency matters. The team is equipped to handle transactions involving distressed companies, namely advising lenders and investors on insolvency-related acquisitions of companies and assets. The group is jointly led by Spain office managing partner Eduardo García; banking and finance specialists Epifanio Pérez and Rodrigo Uría; Iñigo Villoria, who specialises in insolvency proceedings and debt restructuring deals; and Felipe Font, who primarily focuses on restructuring and real estate finance. Laura Del Campo is a name to note for judicial insolvency proceedings.

The team at Latham & Watkins LLP is well placed to handle cross-border restructuring processes, regularly assisting creditors with the design of intricate capital structures and debt instruments. Practice head Pedro de Rojas is well-versed in handling cross-border restructurings on behalf of creditors, investors and their portfolio companies. Additional key contacts include Óscar Franco and Roberto Muñoz, who assist with insolvency litigation and international arbitration proceedings; and Luis Sánchez, who excels in debt restructurings and advises investment funds on distressed assets.

Linklaters regularly advises creditors, investors, portfolio companies, distressed debtors, and administrators on a wide range of restructuring and insolvency matters. Co-leading the practice are Francisco Sainz Trápaga, who handles financing transactions, refinancings and debt restructuring; global banking and finance department co-head Ben Crosse; banking specialist Juan Barona, who is also noted for his experience in the restructuring of financial debt of companies; Begoña Martínez, a contact for refinancings and financial debt restructurings; Borja Fernández de Troconiz, who excels in bank litigation and insolvency proceedings; and Alex Ferreres. Luis Valdenebro left the firm in June 2025.

Pérez-Llorca is regularly engaged by credit institutions, debt funds and domestic and international companies to assist with restructurings, insolvency agreements, company liquidations and distressed transactions. The practice is co-led by Juan Oñate, who focuses on the negotiation of restructuring agreements and M&A transactions in pre-insolvency and insolvency situations, and Javier García Marrero, who is well regarded for his work representing financial institutions in insolvency scenarios. Additional key contacts include Laura Ruiz, who focuses on pre-insolvency advice and insolvency litigation, and Cosme Colmenero, who assists with restructuring and refinancing transactions.

The practice group at DLA Piper is equipped to handle a range of contentious and non-contentious restructuring mandates, including financial restructurings and distressed M&A deals, in which it primarily acts on the buyer’s side. Practice head Juan Verdugo, who was previously at Garrigues, arrived at the firm in April 2025 and specialises in assisting companies, creditors, lenders and shareholders with restructuring plans, insolvencies, debt restructuring and distressed acquisitions.

DWF-RCD‘s practice is well-versed in insolvency litigation, insolvency administration, the structuring of refinancing transactions, debt restructuring and distressed M&A activity. Barcelona-based practice lead Jordi Albiol is frequently instructed by major companies to manage bankruptcy cases and arrangements; he also draws on substantial experience acting as bankruptcy administrator in proceedings across Spain. Additional key contacts include bankruptcy and insolvency specialists Cristian Valcárcel, Bernard Afonso and Albert Díaz.

The practice group at Herbert Smith Freehills Kramer LLP is equipped to handle corporate and debt restructuring, debt rescheduling, bond restructurings, the acquisition of distressed debt, disposals and insolvency proceedings. The team is a trusted resource for domestic and international financial lenders alike. Leadership is shared between corporate law specialist Nicolás Martín; finance-focused Armando García-Mendoza; and Jaime de San Román, who specialises in pre-insolvency and insolvency matters within a transactional and contentious framework. Also noted are Javier de Carvajal, who is active in dispute resolution and insolvency matters; and Marta Rey, who focuses on litigation, restructuring, pre-insolvency and insolvency law.

ONTIER‘s restructuring and insolvency team is well positioned to assist with the negotiation of refinancings, restructuring processes and the filing of insolvency applications. The team is equipped to represent both creditors, including leading financial institutions and private equity firms, and debtors. The practice is led by firm founder and CEO Bernardo Gutiérrez de la Roza, who specialises in insolvency proceedings and debt restructuring processes. Also noted are Manuel Mingot, a key contact for banking and finance and debt restructuring matters, who arrived in May 2025 from Squire Patton Boggs; and Oviedo-based bankruptcy and restructuring specialist Eutimio Martínez Suárez. Laura del Barrio Aranda stands out for her prominent role in insolvency and restructuring cases in the real estate, construction and industrial sectors.

The restructuring and insolvency team at Simmons & Simmons draws on extensive experience assisting domestic and multinational financial institutions with a range of insolvency and restructuring matters, including compulsory insolvency proceedings and claw-back actions. Practice head Luis Valdenebro, who arrived at the firm from Linklaters in June 2025, specialises in handling complex restructuring mandates on behalf of investment funds, financial institutions and corporations. Also noted are specialist litigators Andrés Mochales and Ricardo Orive, both of whom handle financial, civil and bankruptcy litigation, as well as arbitration.

The practice at Andersen in Spain routinely advises on corporate restructurings, insolvencies, debt recovery and distressed M&A. Leadership of the team is shared between Madrid-based Javier Mata, who excels in litigation, insolvency and white-collar matters; and Seville-based Marta Morales, who specialises in restructuring, commercial law and M&A. Also noted are Javier Lacleta, who has a strong track record in insolvency and restructuring cases in the real estate sector, and Javier Rubio Sanz, who assists with corporate restructuring, insolvency proceedings and special situations.

Ashurst LLP is equipped to assist investment banks, distressed investors, hedge funds, private equity houses and corporations with restructurings, insolvencies and special situations transactions. Leadership is entrusted to firm managing partner and corporate lead Jorge Vázquez, who has focused his practice on corporate, private equity and restructuring transactions. Additional key contacts include José Christian Bertram, noted for his experience in acquisition finance, restructurings and refinancings, and José Antonio Rodríguez, who shines in insolvency litigation.

Baker McKenzie‘s restructuring and insolvency group offers expertise in debt restructuring, formal insolvency procedures and distressed M&A. The practice is jointly led by José Luis Yus and Rossanna D’Onza in Madrid, alongside Marc Prat in Barcelona. Yus regularly advises retail, financial and real estate-sector clients on restructurings; D’Onza focuses on banking, finance and debt restructuring; while Prat, for his part, majors on arbitration and litigation. Laura Camarero handles restructuring negotiations and cross-border insolvencies.

Ceca Magán Abogados is frequently engaged by banks, financial institutions and distressed companies seeking advice on restructuring and insolvency issues. José Carlos González Vázquez, a name to note for corporate governance, restructuring and insolvency proceedings, and Amado Giménez, a November 2024 arrival from ONTIER, lead the Madrid-based team. Santiago Torent, recognised for his experience in restructuring operations and structured financing, steers the practice in Barcelona, while Javier Romano Egea, who focuses on bankruptcy proceedings and M&A, is the key contact in Vigo. Raúl Villarín is an additional name to note for restructuring and bankruptcy matters.

CMS Albiñana y Suárez de Lezo‘s restructuring and insolvency practice routinely assists financial institutions, shareholders and distressed companies with restructuring plans, debt refinancing negotiations and insolvency proceedings. Practice lead Juan Ignacio Fernández Aguado specialises in civil and commercial litigation, bankruptcy law and arbitration. José Ramón Meléndez handles corporate law, M&A transactions and insolvency and restructuring mandates. Elisa Martín left the firm in March 2025.

The restructuring, insolvency and bankruptcy practice at Dentons is well placed to assist with consensual and court-led restructurings and insolvency proceedings, as well as related litigation. Practice head Santiago Hurtado draws on substantial experience assisting financial institutions and debtors alike with bankruptcy proceedings, refinancing agreements and commercial litigation. Key contact Javier Royo specialises in distressed deals, restructuring and insolvency mandates, including related litigation.

The team at J Almoguera Abogados has notable expertise in out-of-court arrangements, restructurings and insolvency-related litigation and frequently acts for major investment funds and European banks. The practice is jointly led by Jesús Almoguera, Eduardo Vázquez de Prada and Carlos González Pulido, all of whom specialise in arbitration, litigation, and restructuring and insolvency mandates.

Kepler Karst’s practice is well positioned to advise local and international creditors, debtors and bankruptcy trustees on all aspects of insolvency. The team also regularly serves as a court-appointed administrator in proceedings. Leadership is shared between Davinia Sánchez and Armando Betancor, both of whom specialise in insolvency law matters, corporate restructurings and commercial law mandates. Luis Barber is an additional key contact for restructuring, corporate law and litigation issues.

Ramón y Cajal Abogados has strong expertise in advising banks and lenders as creditors in restructuring matters, while also offering support to debtors in bankruptcy proceedings. Practice head Ramón Fernández-Aceytuno, who also leads the firm’s litigation department, has extensive experience in business restructuring processes, advising large companies and financial institutions on pre-insolvency and insolvency proceedings. Also noted is Carmen Fernández-Hontoria, who has a wealth of experience in insolvency law and civil litigation.