Iben Madsen is a partner in the Business Reorganization & Restructuring Department. She has extensive experience advising all types of stakeholders (including debtors, creditors and insolvency practitioners) on restructurings, insolvency proceedings, acquisitions and disposals of stressed and distressed businesses.

Iben is particularly experienced in handling complex, cross-border mandates, such as Intu, Lecta, Proserv, Premier Oil, CGG, Core Media Group, Monier and Travelodge. She is also regularly called upon to advise a range of stakeholders in the special situations sphere.

Iben was recognised as "Up and Coming" by Chambers UK (2023) for Restructuring/Insolvency and by The Legal 500 UK (2023) as a "Next Generation Partner" for ‘Corporate Restructuring & Insolvency'. Clients have described her as "technically excellent and very proactive; she consistently provides well-considered commercial advice. She's definitely a tactical-thinker, all over the detail and very well connected in the market."

Iben sits on a number of the firm-wide management committees, including the Women's Professional Development Committee, which advances Willkie's goal of promoting the training and career development of women attorneys.



Iben is co-author of the following works:

  • “Schemes of arrangement: theory and practice” in the book Investing in Distressed Debt in Europe : The TMA Handbook for Practitioners (Globe Law and Business, November 2016)
  • “Expedited Corporate Debt Restructuring: Procedural Law Implications in the EU under the Insolvency Regulation” in the book Expedited Corporate Debt Restructuring in the EU – edited by Rodrigo Olivares-Caminal (Oxford University Press, July 2015)
  • “Schemes of Arrangement: flexible, global and here to stay”, Financer Worldwide (March 2014) 
  • Lectured entitled “European Regulation on Insolvency Proceedings” to the LLM programme at the Centre for Commercial Law Studies, Queen Mary, University of London (December 2016 & 2017)

Iben has advised on the following significant non-confidential matters*:

  • Intu. Convertible bondholders in respect of the £375m 2.875% guaranteed convertible notes issued by intu (Jersey) 2 Limited and the ongoing administration of intu Properties plc and other intu group companies (2020).
  • Lecta. Acting for the coordinating committee of senior secured noteholders in connection with the comprehensive restructuring of its €600 million senior secured notes by way of scheme of arrangement, and further acting for a group of underwriting shareholders and senior secured noteholders in connection with the company’s subsequent recapitalisation transaction (2019-2020)
  • Orchard. Advising a landlord to the Orchard Care Homes Group on the administration of certain entities in the Orchard Group (2017-2018).
  • Proserv. Advising the oilfield services group Proserv through its debt-for-equity restructuring (2017-2018).
  • Agrokor. Advising a significant senior creditor on the €5.6 Billion restructuring of the Agrokor Croatian retail group, including proceedings in the US and the UK (2017-2018).
  • Premier Oil. Acting for the holders of the $245MM convertible bonds on the complex restructuring of the Premier Oil group, a leading FTSE 250 oil and gas exploration and production company (2016-2017).
  • CGG. Acting for the bondholders in CGG, a French listed company operating globally in the geoscience and geophysical services sector (2016-2017).
  • CORE Media Group. Representing the production company behind the TV shows American Idol and So You Think You Can Dance in its chapter 11 case, including obtaining precedent-setting recognition of one of the UK debtor's chapter 11 proceeding as a foreign main proceeding under the Cross-Border Insolvency Regulations 2006 (judgment reported here) (2015-2016).
  • Rijnmond Energie C.V. Advising the directors and the company in connection with the disposal of the mothballed 810MW Rijnmond Energie combined cycle gas turbine power plant in Rotterdam, both prior to and after the commencement of enforcement proceedings by lenders (2015).
  • Latécoère. Advising Apollo and Monarch, who led a lender working group in the completion of Latécoère's restructuring, which comprised a partial debt-for-equity swap and new money injection (2015).
  • Eitzen. Advising the Eitzen Group, a leading Norwegian chemicals shipping company, on the international elements of its successful debt-for-equity restructuring (2014-2015).
  • Axcess Financial. Acting for the Axcess Financial group on the restructuring of Cheque Centres, the UK's second largest High Street payday lender, including a rationalization of its leasehold portfolio and a pre-packaged administration sale (2014).
  • Evans Easyspace. Acting for Zolfo Cooper LLP as the administrators of Evans Easyspace, a major serviced office group, in relation to the sale of its business and assets to Regus plc (2014).
  • Vivarte. Acting for a co-ordinating committee of lenders in relation to the French clothes and shoes retailer's restructuring (2014).
  • Monier. Acting for the Monier Group, a leading international manufacturer and supplier of roofing materials, in relation to its schemes of arrangement across six jurisdictions in Europe (2013).
  • Travelodge. Acting for GoldenTree, Avenue Capital and Goldman Sachs on the circa £1.1 billion successful operational and financial restructuring of Travelodge Hotels, including a groundbreaking Company Voluntary Arrangement and interlocking Schemes of Arrangement and the injection of substantial new money funding (2012).
  • Lehman Australia. Acting for PPB Advisory as the liquidators of Lehman Brothers Australia Limited in connection with various issues arising from the Lehman Brothers insolvencies (2011).
  • Regency. Acting for Regency Entertainment Leisure & Tourism S.A., a Greek casino business, in relation to its circa €600 million consensual financial restructuring with its senior and mezzanine lenders and sponsor, BC Partners (2011).
  • Lehman Brothers. Advised a number of different investors and counterparties in relation to the bankruptcy of the Lehman Brothers group, including in relation to the sale and purchase of claims and in asserting claims against the estate, in particular arising out of prime brokerage arrangements.
  • Regularly acts for leading hedge funds and private equity houses, both with their diligence and review of European investment opportunities and the restructuring and/or winding-up of their European portfolio companies.

* Iben advised on those matters before December 5, 2013 at her prior firm.



Nottingham Law School, Legal Practice Course, 2006 Nottingham Law School, Graduate Diploma in Law (GDL), 2005 University of Bristol, MSci (First Class Honours), 2004

Bar Admissions

England & Wales, 2009