Guilhem Bremond

Two cross-border teams have contributed chapters of Global Restructuring Review (GRR) Americas Restructuring Review 2025. The GRR Restructuring Review is a collection of insights and thought leadership to build a global outlook on the world of restructuring and insolvency. Learn more about our chapters below: Capital Solutions Financings: Yield Driving Structure In this chapter, our lawyers explore some of the typical deal structures for capital solutions financings (including relevance in certain non-US jurisdictions), various ways in which yield is captured in debt focused capital solutions instruments and briefly conclude with a few thoughts on the vulnerability of call protection and related concepts. This chapter was drafted by New York-based partners Damian Ridealgh, Mark Liscio, and Andrea Basham, Milan-based partner Francesco Lombardo, Frankfurt-based partner Michael Josenhans, and London-based partner Ken Baird. To read the chapter online, click here. EU Adaptation of Important Chapter 11 Provisions Chapter 11 has been a model and a vision for the EU restructuring community for the past 20 years. Following the enactment of the EU Restructuring Directive in 2019, nearly all EU member states have moved to implement the Directive. This includes the Netherlands, France, Germany and Spain, which have all adopted insolvency and restructuring laws with many of the same features of Chapter 11. The United Kingdom has also enacted a new restructuring process that possesses many of these familiar Chapter 11 features. This chapter compares a number of these new laws with their US Bankruptcy Code counterparts. This chapter was drafted by London-based partner Ken Baird and counsel Katharina Crinson, New York-based partner Mark Liscio and counsel Samantha Braunstein, Amsterdam-based partner Michael Broeders, Hamburg-based partner Marvin Knapp, Paris-based partners Laurent Mabilat and Guilhem Bremond, Madrid-based partner Ana López, and knowledge lawyer Silvia Angós. To read the chapter online, click here.

Dec 20

1 min

Freshfields a conseillé Cycleurope France, acteur majeur de la mobilité, dans le cadre de la cession de son site et de ses activités de production des vélos Gitane et Peugeot Cycles en France, à Rebirth, spécialiste du vélo électrique. Dans le cadre de cette cession, Rebirth a également acquis le réseau d’affiliés Velo & Oxygen, spécialisés dans la vente et la réparation de cycles. Rebirth a repris l’intégralité des 150 salariés de Cycleurope Industries et s’est engagé à poursuivre le projet initié par le groupe Grimaldi, précédent propriétaire. L’équipe Freshfields était coordonnée par Guilhem Bremond, associé, avec Laura Coz et Ophélie Clain, collaboratrices, sur les aspects de restructuration. Guillemette Burgala, associée, et Kanitha Neal, collaboratrice senior, sont intervenues sur les aspects corporate. Christel Cacioppo, associée, est intervenue avec Célia Kirren, collaboratrice senior, sur les aspects de droit social.

Oct 15

1 min

Global law firm Freshfields advised Cycleurope France, a leading player in the mobility sector, on the sale of its production site and activities for Gitane bicycles and Peugeot Cycles in France to Rebirth, an electric bicycle specialist. As part of this sale, Rebirth also acquired the affiliates network Velo & Oxygen shops, which specialise in the sale and repair of bicycles. Rebirth took over all 150 employees of Cycleurope Industries and committed to pursuing the project initiated by the Grimaldi group, the previous owner. The Freshfields team was led by partner Guilhem Bremond, with associates Laura Coz and Ophélie Clain, on the restructuring aspects. Partner Guillemette Burgala and senior associate Kanitha Neal advised on the corporate aspects. Partner Christel Cacioppo with senior associate Célia Kirren advised on employment law aspects.

Oct 15

1 min

Our international restructuring teams have authored two chapters for the Global Restructuring Review (GRR) Americas Restructuring Review 2026. The GRR Restructuring Review is recognised as a leading source of cross-border insight and thought leadership, offering a comprehensive perspective on developments in restructuring and insolvency worldwide. Holding the line: how documentary protections are shaping investor risk in the era of holdco capital solutions This chapter explores the rise of holdco payment-in-kind (PIK) debt and preferred equity. It also discusses how these trends are reshaping investor risk profiles and deal structuring amid evolving macroeconomic pressures, especially for sub-investment grade, private equity-owned businesses. The chapter delves into the unique risks of holdco instruments compared to traditional operating company (opco) debt. In doing so it highlights the growing importance of tailored documentary protections for investors - including covenant controls, good behaviour rights, and alignment of interests with shareholders. The chapter further examines the use of holdco instruments in restructurings, showing how they can address legal and commercial barriers to equity ownership while incentivising improved business performance and facilitating asset recovery for both creditors and shareholders. This chapter was written by Marvin Knapp based in Hamburg, Damian Ridealgh, based in the US and London based partners Paul Stewart, Mark Davis and Nick Fortune. To read the chapter online, click here. The EU’s restructuring revolution: how jurisdictions are adapting Chapter 11 provisions Building on last year’s analysis, this chapter takes a closer look at how European jurisdictions have shaped new restructuring tools to fit their local context, drawing inspiration from US Chapter 11 but adapting the model for domestic needs. Through a comparative lens, it examines the practical gateways to jurisdiction, creditor protection, stays, financing options, and mechanisms to bind dissenting creditors or implement cramdowns across the Netherlands, France, Germany, Spain and the UK. With these developments, European businesses and creditors now have a broader menu of effective options for cross-border restructurings, positioning the region as a dynamic alternative to classic US processes. This chapter was written by London – based partner Ken Baird and senior associate Sally Montague, New York-based partner Mark Liscio and counsel Samantha Braunstein, Amsterdam-based partner Michael Broeders, Hamburg-based partner Marvin Knapp, Paris-based partners Laurent Mabilat and Guilhem Bremond, Madrid-based partner Ana López, and knowledge lawyer Silvia Angós. To read the chapter online, click here.

Dec 3

2 min

Global law firm Freshfields advised the Netceed Telecoms global group on its successful recapitalisation which closed on 29 January 2026. The transaction was agreed by all the lenders and included ownership of the group transferring to a consortium of experienced institutional investors including Pemberton, Blue Owl and Hayfin. The recapitalisation significantly strengthens and deleverages Netceed’s balance sheet. This provides the group with a robust capital structure and significantly enhanced liquidity, such that Netceed is well positioned for long-term sustainable growth. Freshfields partner, Emma Gateaud commented: “We’re delighted to have advised Netceed on this successful transaction. With its robust and greatly strengthened capital structure, we look forward to seeing Netceed thrive as it delivers on its strategic growth plan.” Freshfields led a cross-border, multi-jurisdictional and multi-practice group team to deliver a successful outcome for the company. The Freshfields team was led by restructuring partners Emma Gateaud (London), Richard Tett (London) and Guilhem Bremond (Paris). The Freshfields team also included partner Julien Rebibo (Paris), partner Kyle Lakin (New York), partner Marie Roche (Paris), counsels Antoine Rueda (Paris), Myriam Khetib-Khatiri (Paris) and Thomas Jeannin (Paris), senior associates Will Snowden (London) and Philippe Huntziger (Paris), associates Tony Conn (London), Sacha Hopkins-Powell (London), Frederick Money (London), Soraya Ameline (Paris), Matthis Pangrazzi (Paris), Rada Shakirova (Paris), Nicholas Mack (New York), Alex Kennedy (New York), Reinout Vrielinck (Brussels) and Emma Tielemans (Brussels).

Feb 6

1 min