Adrián Thery is part of Garrigues’ restructuring and insolvency department. He advises debtor companies, credit institutions and distressed investors on out-of-court refinancings and restructurings, as well as on in-court insolvency proceedings, both domestic and cross-border. His in-depth knowledge of the different idiosyncrasies at stake enables him to anticipate the incentives, deterrents and strategies the different parties may look for in each case, as well as find the potential leverage that might ultimately lead to collaborative solutions.
He has secured approval of eight advanced restructuring plans. Two of these have been singled out for praise at a European level at the Financial Times Innovative Lawyers Awards in the 2009 edition (‘Industrial lease in an insolvency’) and the 2011 edition (‘Accelerating a company-saving approval’).
Additionally, the 2013 FT Innovative Lawyers Awards acknowledged his contribution in a leading case in Spain, consisting of ‘arguing that a US law applied to Spanish insolvency proceedings, allowing bankruptcy judges to assign contracts in bankruptcy sales’.
In 2013, acting as the attorney of two companies subject to insolvency proceedings that were to be merged through their respective restructuring plans, he petitioned and obtained for the first time in Spain from a commercial court (Madrid) the exclusion of the individual right of opposition that corporate law generally grants to creditors. In practice, this precedent enables classic restructuring tools (haircuts, deferrals and conversions) to be combined in Spanish restructuring plans with other sophisticated tools such as corporate structural modifications.
He has been singled out by Chambers and Partners in the ‘Restructuring and insolvency’ category (from 2011 to 2016), Best Lawyers in Spain in the ‘Insolvency and reorganisation’ category (from 2009 to 2016), IFLR1000 in the ‘restructuring and insolvency’ category (2012 and 2016) and Who’s Who Legal in the insolvency and restructuring category (2015).
In December 2015, Adrián was appointed as a member of the Group of Experts established to assist the European Commission in the preparation of a potential legislative proposal containing minimum standards for a harmonised restructuring and insolvency law in the European Union.
He has a degree in law (CEU San Pablo University), a master’s degree in EU law (CEU San Pablo University) and a master’s degree in business and finance (Centro de Estudios Garrigues).