With bondholder and restruc-turing work currently generating more headlines than instructions, the usual suspects of Cadwalader Wickersham & Taft and Bingham McCutchen, alongside a handful of top London firms, are securing the pick of lucrative debt finance work.

Advisers concede that New Year predictions that restructuring work would take off this year have yet to be fulfilled with debt roles being currently dominated by a handful of high-profile mandates.