Biography
Alicia Bali is a partner of our Global Financial Restructuring and Insolvency Practice at White & Case. She is recognised across both the Private Equity and Restructuring & Insolvency practices, reflecting the breadth of her expertise.
With nearly 15 years of experience, her private equity background, agility and capacity to engineer creative and innovative solutions under extreme pressure make her one of the few partners able to handle pure distressed M&A, out-of-court restructuring and in-court insolvency proceedings alike, with a truly 360-degree perspective. She has further developed a strong expertise in cross-border matters across Europe, including the preparation of multi-jurisdictional filings, and works closely with the UK and US teams. Committed to building a comprehensive practice capable of serving both mid- and large-cap creditors as well as debtors and PE sponsors, Alicia operates seamlessly across out-of-court settlements and formal court proceedings. This versatility is increasingly pertinent given the evolving landscape of legislation, which has blurred the lines between out-of-court and in-court processes. This shift is evidenced by the growing commonality of financial restructurings that are prepared in conciliation and executed in court.
Alicia is highly visible within the restructuring ecosystem, she is a member of Women In Restructuring (WIR), the Association pour le Retournement des Entreprises (ARE) and INSOL Europe, reflecting her engagement at both national and European levels. She also regularly contributes to restructuring thought leadership and has co-authored the France chapter for leading directories, including Chambers, GRR and Legal 500. She is also a regular speaker at major restructuring events and round tables, including Option Finance and the Journées Restructuring de Fès where she participated for the third consecutive year.
Alicia has a strong track record advising on landmark restructurings including Maisons du Monde, Atalian, Novares, Bourbon, Casino, emeis (formerly ORPEA), Solocal, Accor Invest, Europcar Mobility Group, Hertz, Via Location* and Vivarte*, many of which received wide media coverage.
*Transactions worked on previous to joining White & Case
Experience
Maisons du Monde (2026)
Representation of Majorelle as existing shareholders on the refinancing of Maisons du Monde Group, with a new investor consortium consisting of Alteri Investors and Eicos Investment Group set to strengthen equity and significantly reduce bank debt, subject to normal conditions.
Atalian (2026)
Representation of the Atalian group, one of the leading Facilities Management companies in Europe, in connection with its global recapitalization and a change of ownership of the Group, with the support of an ad hoc group of bondholders (AHG) representing more than 60 percent of the principal amount of the existing notes, its reference shareholder and 99 percent of the existing noteholders who voted in favour of the exchange offer.
emeis (ex ORPEA) (2023 - 2026)
Representation of Euronext Paris-listed emeis S.A. (emeis) on the refinancing of its existing debt, which will increase the average maturity of the debt by 2.5 years, bringing it to nearly five years, and will enable emeis to exit its accelerated safeguard plan ahead of schedule.
Representation of the ad hoc group of bondholders, representing more than two-thirds of the outstanding bonds and including some shareholders, on the negotiation and signing of an Agreement in Principle on the terms of the financial restructuring of Solocal Group, a French digital marketing company.
Representation of the ORPEA Group on its accelerated safeguard plan, which was approved by the Nanterre Specialized Commercial Court on July 24, 2023.
Bourbon Group (2026)
Representation of Bourbon on the completion of Bourbon’s financial and capital restructuring. Under this agreement, funds managed by affiliates of Davidson Kempner Capital Management and Fortress Investment Group will enter the capital and become the majority shareholders of the Company.
Solocal Group (2024)
Representation of the ad hoc group of bondholders, representing more than two-thirds of the outstanding bonds and including some shareholders, on the negotiation and signing of an Agreement in Principle on the terms of the financial restructuring of Solocal Group, a French digital marketing company.
Citi Bank (2023)
Representation of Citi Bank as security agent of certain facilities of the Casino group companies within the context of the financial restructuring of French listed company Casino Guichard-Perrachon.
Metric Capital Partners (2022)
Representation of the Metric Capital Partners investment fund in its minority co-investment alongside MML in Group GPS (Global Packaging Services), a global leader in the circular logistics market.
Revolving Credit Facility debtholders (RCF) (2021)
Representation of the majority of Revolving Credit Facility (RCF) debtholders, including financial institutions and investment funds, on Europcar Mobility Group's financial restructuring and subsequent accelerated financial safeguard.
Oaktree Capital Management, L.P. (2021)
Representation of alternative investment management fund Oaktree Capital Management, L.P. on the investment of a €115.2 million convertible bond issuance to the benefit of hotel asset manager Paris Inn Group and Maison Albar Hotels related to the establishment of a strategic partnership through a hotel investment vehicle named Centaurus.
Hertz France (2021)
Representation of Hertz France in the context of the ongoing chapter of 11 cases opened against Hertz Global Holdings, Inc. and certain affiliates. Hertz and its affiliated brands operate one of the world's largest rental car companies with a total of more than 10,000 locations across North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East and New Zealand. At filing, Hertz held nearly US$19 billion in outstanding debt.
Gabriel Naouri (Financière GN)
Representation of Financière GN in the acquisition of a significant stake alongside other investors in Maisons du Monde.
Louis Dreyfus Armateurs (2020)
Representation of a pool of several banks in connection with the debt restructuring and setting-up of a €60 million State-backed loan to the benefit of Louis Dreyfus Armateurs, a French based company specialised in maritime transportation and other related services.
Davidson Kempner and Triton Partners (2020)
Representation of Davidson Kempner and Triton Partners as shareholders on the sale of VIA Location Group, a provider of fleet management solutions for industrial vehicles, to FRAIKIN Group, a leader in long term leasing of commercial and industrial vehicles in Europe.
VIVESCIA Group (2020)
Representation of VIVESCIA Group, a cooperative farming and food processing group, on the €865 million refinancing of the Group's loans and bilateral credit lines with a pool of French and international banks.
Renault Group (2020)
Representation of the lending banks on the €5 billion Term Loan facility guaranteed by the French state granted to the Renault group.
Air France KLM (2020)
Representation of the lending banks on the implementation of a €4 billion Term Loan facility guaranteed by the French state for Air France-KLM.
Fnac Darty (2020)
Representation of the lenders in connection with a state guaranteed loan (Prêt Garanti par l'Etat) of an amount of €500 million signed by Fnac Darty during COVID-19 crisis.
NextStage AM and Mi3 (2019)
Representation of NextStage AM and Mi3 in their equity and debt investment in the Bagatelle Group.
Professional Highlights
Recognized Rising Star at the Business Law Awards 2023
Recognized Leading M&A Lawyer in 2024 by France by Best Lawyers: Ones to Watch in France
