What have we learned from COVID-19?
Epidemiologist Syra Madad says it’s critical to engage with local communities
In 2021, the COVID-19 pandemic continued to affect nearly every aspect of our lives. Against this backdrop, our global teams worked on groundbreaking transactions, resolved high-stakes disputes and, through our global citizenship initiatives, responded to societal challenges around the world.
The role of business in society evolved as environmental, social and governance (ESG) issues entered the mainstream, concentrating on challenges including the energy transition and achieving greater diversity and inclusion. Like our clients, we looked for ways to create long term value and growth—a shared goal that created opportunities for collaboration.
It was in this context that we launched a new five-year strategy, focused on creating a distinctive experience for our clients.
Our emphasis on complex, cross-border matters helped us grow in all of the regions where we work and achieve outstanding results for our clients. As we look to the next five years, we are committed to building the capabilities our clients need, supported by a strong, resilient culture.
Epidemiologist Syra Madad says it’s critical to engage with local communities
Think tank CEO Chris Pinney is encouraged by moves to focus on impact, not just policies and procedures
Bill Emmott, who co-leads a nonprofit that studies the far-reaching effects of COVID-19, discusses the importance of business scenario planning
Countries and companies are increasingly committing to net-zero goals that would require them to significantly reduce carbon emissions on relatively short timelines
Most of 2021 was characterized by free-flowing capital, as government aid in response to COVID-19 propped up economies
Globalization may be evolving, as nations and regions reassert their regulatory powers on a wide range of issues
Matters in eight practice areas that highlight our global impact for clients
2,464 Total lawyers
An outstanding roster of talented lawyers strengthened our Firm in 2021
White & Case earned many of the legal industry’s top accolades for outstanding performance in 2021
White & Case is committed to fair and ethical operations that respect human rights and recognize the importance of our natural environment.
As a signatory to the UN Global Compact we affirm our commitment to doing business responsibly by supporting the Compact’s ten principles on human rights, labor, the environment and anti-corruption. The steps we are taking to continue to embed these principles into our Firm are outlined in our most recent Communication on Progress.
Our latest Environmental Sustainability Report includes information on our environmental policies, footprint, key actions and goals.
10 global affinity networks
Our ten global affinity networks foster a sense of community among the Firm’s Black, Asian, Latinx/Hispanic, Middle Eastern, minority ethnic and LGBT+ lawyers, business services professionals and their allies. Each network sets its own agenda, initiatives and goals, which are specific to the issues it feels are most important. Affinity networks also create and enhance awareness of these groups within the Firm and its larger culture, drive community and connection across our global offices, and support their members with career and professional development opportunities.
26 local women’s networks
Our 26 local women’s networks are active in 40 offices across the Americas, EMEA and Asia-Pacific. These networks foster professional development and mentoring activities, and support business-related client partnerships. They also provide a forum for our lawyers and business services professionals to share perspectives and create programs to support and retain our talent while fostering and promoting gender equity.
For more than a decade, leading publications and alliance organizations have recognized White & Case’s commitment to diversity and inclusion.
#1 Most Diverse Law Firm in Am Law 50 (eighth consecutive year)
The American Lawyer
Diversity Scorecard 2021
100% rating on commitment to lesbian, gay, bisexual and transgender workplace equality (13th consecutive year)
Identifying the Firm as one of the best places to work for LGBT+ individuals
Human Rights Campaign’s Corporate Equality Index
Minority Women Lawyers – International Firm of the Year
Work-life balance – International Firm of the Year
Euromoney Legal Media Group
Women in Business Law Awards (Europe 2021)
2021 Mansfield Rule Certification Plus (third consecutive year)
Top 75 employer in the UK
Social Mobility Foundation
2020 Employer Index Report
We continued to advance toward our diversity and inclusion goals, narrowing the gap between thought and action with new trainings
Like our clients, we are seeking ways to sustainably create long-term value and growth, a shared goal that presents opportunities to collaborate
We set out to ensure we provide our clients with an experience that emphasizes the attributes they seek in a trusted advisor
Buenos Aires US$7.1 billion debt restructuring
We advised the Ad Hoc Group of Buenos Aires Bondholders on the Province of Buenos Aires’s restructuring of US$7.1 billion of external debt. The deal concluded 17 months after the province launched its first restructuring offer, which was rejected by the bondholder group and other investors. Following months of negotiations and the commencement of legal action on behalf of bondholders against the province in New York court, a successful agreement provided for the exchange and/or amendment of 11 series of outstanding bonds for new bonds maturing in 2037.
Vallourec financial restructuring
We advised Vallourec's ad hoc group of bondholders and revolving credit facility, led by Apollo, SVP, Bybrook and M&G, on the negotiation of an agreement in principle reached as part of the financial restructuring of Vallourec, the world leader in premium tubular solutions for the energy markets and for demanding industrial applications.
Odeon Cinemas refinancing
We advised affiliates of Oaktree Capital Management, L.P., Centerbridge Partners, Cross Ocean Partners, Barings LLC and Canyon Partners, LLC on the refinancing and upsizing of the existing credit facilities of the Odeon Cinemas group, AMC Entertainment Holdings, Inc.'s theater-operating subsidiaries in the UK and continental Europe. The new £400 million financing will refinance existing debt and provide liquidity to the cinema chain, which has suffered from depleted audiences during the coronavirus crisis.
We advised the coordinating committee of agent banks and lenders representing holders of US$5.6 billion of senior secured indebtedness across 12 credit facilities in connection with the ongoing US chapter 11 bankruptcy cases of Seadrill Ltd. and its affiliates.
We advised Hertz Global Holdings, Inc. and certain affiliates in their chapter 11 cases and global restructuring matters. Deeply affected by the sudden downturn of the pandemic, Hertz held nearly US$19 billion in debt and claims outstanding at the time of its chapter 11 filing. Hertz completed its successful chapter 11 restructuring and its reorganization plan effective June 30, 2021. The confirmed plan paid more than US$19 billion of claims in full, and delivered a return of more than US$1 billion to Hertz's existing shareholders.
Southern Foods Group chapter 11
We advised Coöperatieve Rabobank U.A., New York Branch, as agent, for a pre-petition credit facility for US$188.8 million, a post-petition credit facility of up to US$425 million and a pre-petition accounts receivable securitization facility of up to US$450 million, collectively totaling up to US$850 million, for the chapter 11 cases of Southern Foods Group, LLC (formerly known as Dean Foods Company) and its affiliated debtors.