Specialist London Law Firm for Restructuring, Insolvency & Banking Matters
We advise funds, corporates, directors, and trustees on complex financial legal issues—delivering practical, independent solutions.
Independent. Experienced. Focused on You.
Founded by industry-recognized restructuring expert Stephen Phillips, Freilibertas brings over 25 years of global legal experience across financial crises, distressed investments, and insolvency matters.
FreiLibertas is a London-based SRA registered law firm which provides discrete conflict free advice in financially distressed situations.
Who We Are
We advise on banking, restructuring and insolvency matters. We work collaboratively with other legal providers to ensure our clients have access to a wider selection of legal services, including employment, property, bank regulatory, disputes, capital markets, and corporate advice.
What We Do
We aim to redefine legal value by staying small, focused, and entirely client-driven. By removing the burden of firm politics and billable pressure, our vision is to remain a legal partner known for agility, clarity, and unwavering integrity in financially distressed environments.
Our Mission & Vision
Our Services
We work with funds, corporates, trustees, directors, and insolvency practitioners—offering deep expertise and a commercially driven
approach in every case.
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We advise clients on all aspects of financial distress, from corporate workouts to formal insolvency proceedings. Whether acting for stakeholders, directors, or practitioners, we provide strategic legal solutions designed to protect value and manage risk during periods of financial uncertainty.
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Our experience spans complex banking issues, leveraged finance, and distressed debt. We support clients on matters involving syndicated loans, private credit, high-yield bonds, and structured finance vehicles. We are regularly instructed in special situations and stressed investment scenarios.
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We support board members, trustees, and fiduciaries facing personal or professional risk in times of corporate stress. Our advice focuses on duties, liabilities, and options available during critical decision-making moments—helping clients navigate legal pressure with confidence.
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With a track record in international restructurings and insolvency mandates, we advise on cross-border legal matters including UK schemes of arrangement, recognition issues, and complex jurisdictional coordination. We often collaborate with international counsel to deliver cohesive, multi-jurisdictional solutions.
Our Case Studies*
*Some of these cases were undertaken when the founder worked at another firm
We are called by the general counsel of one of the UK’s largest renewables businesses in respect of an asset that has underperformed. The board needs to make a tricky decision regarding the payment of a dividend following the receipt of cash pursuant to litigation. We advise them on the board’s duty and on the various issues which arise. The dividend is paid and the decision is documented.
The Renewable Business
Two founders of a manufacturing business get in touch. They are ready to sell their business but there is a problem – a previous shareholder is disgruntled and has a big claim into the company which would make a sale problematic. We review the case, advise the founders on a sensible offer, and document a compromise. A year later the founders sell the business free of any claim.
Shareholder Dispute Gets Resolved
The Contractor and His Personal Guarantee
A liquidator calls us – a company director/owner is in trouble following the collapse of his construction contracting business. He faces the loss of his house as the bank has claimed on an indemnity basis under a personal guarantee. The bank is alleging gross negligence. We step in quickly review the evidence, marshal the arguments and successfully negotiate with the bank’s counsel to eliminate the indemnity claim and agree on a payment plan of the guarantee over 10 years.
Our Founder
Stephen was a partner at White & Case and formerly headed the European restructuring group of Orrick. Stephen, a member of INSOL Europe, and the Turnaround Management Association, regularly writes articles and is quoted in the UK and international national media where he speaks on restructuring and insolvency matters. His latest venture - the Turnaround Podcast is developing a cult following in the industry.
During the Global Financial Crisis, he advised funds, banks, and corporates on stressed leveraged finance and private equity structures, as well as bank restructurings and structured finance vehicles, including SIVs and CMBS. Formerly a partner at White & Case and head of Orrick’s European restructuring group, Stephen now focuses on energy, hospitality, construction, and retail-related distress, delivering discreet, conflict-free advice as a trusted expert at FreiLibertas, a London-based SRA-registered law firm.
Our Testimonial
Contact us
Contact us
The Turnaround Podcast
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Uncovering Financial Misconduct & Promoting Market Transparency with Fraser Perring
In this episode of The Turnaround Podcast, Stephen Phillips speaks with renowned short seller Fraser Perring, founder and researcher at Viceroy Research, an international investigative financial research group.
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Breaking Down Special Situations with Zip Jila of Warwick Capital Partners
In this episode of The Turnaround Podcast, Stephen Phillips speaks with Zip Jila, Partner at Warwick Capital Partners LLP, a global special situations investment firm, addressing complex capital needs across equity and debt.
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Unlocking Success in Troubled Times with Andrew Pepper
In this episode of The Turnaround Podcast, Stephen Phillips speaks to Andrew Pepper, Head of Special Situations and Restructuring at the newly relaunched professional service firm, S&W, a top 10 accountancy and advisory firm.
