Freshfields adds restructuring co-head in New York as lateral race heats up

Freshfields has hired partner Amit Trehan from Cahill as co-head of its US financial restructuring practice as elite firms continue to bulk up their restructuring benches in New York.

Trehan arrives with more than 20 years of experience in restructuring and distressed asset management. He joined Cahill in 2024 after a 12-year stint in-house at Barclays as a bankruptcy and restructuring specialist.

His practice includes liability management exercises (LMEs) - the out-of-court restructuring method which has risen in popularity in recent years as troubled companies and private equity sponsors look to rework their capital structures.

Restructuring talent in demand

Trehan’s hire is the latest in a flurry of restructuring lateral moves in New York as top firms move to capture work from private capital-backed companies now under pressure after loading up on cheap debt before interest rates rose.

In February, restructuring star David Nemecek - widely considered the architect of modern LMEs - made headlines by exiting Kirkland for Simpson Thacher, with several former colleagues following him.

Kirkland recently moved to remedy his departure by hiring Wachtell restructuring heavyweight Joshua Feltman, with a reported $80 million compensation package on the table.