Global law firm Linklaters has lured a restructuring and insolvency lawyer from competitor Willkie Farr & Gallagher to its office in New York.
Penelope Jensen joins Linklaters as counsel. Jensen advises lenders, administrative agents, and steering committees in large and complex restructurings. Jensen's client base includes borrowers as well as lenders. At her prior firm, Jensen worked with Margot Schonholtz, who became chair of Linklaters’ New York restructuring practice in November 2015.
In a discussion with IFLR1000, Jensen reflected on the state of the restructuring market on a few sectors in particular that offer opportunities for restructuring counsel.
“Energy and other commodity-based companies are in distress due to declining prices and volatility in the market. Retail has also been struggling lately, due to the growth of e-commerce, fickle consumer demand and high labor and rent costs. This has made retail a difficult business to be in at this stage. After energy, that’s probably where we are going to see more upcoming restructurings,” Jensen said.
Jensen holds a J.D. from St. John’s University School of Law and a BBA from Hofstra University.