Freshfields Bruckhaus Deringer LLP ('Freshfields') has advised Nordic Trustee ASA in relation to the financial restructuring of Sterling Resources (UK) Ltd. ('SRUK'), an exploration and production company with oil and gas operations primarily in the North Sea, and Sterling Resources Ltd. ('SRL'), the SRUK Canadian holding company.
We have acted as Jolla Oy’s legal advisor since its founding and have closely supported its development and expansion in the international mobile phone and operating system markets. We have assisted Jolla, among other things, in every financing round and have carried out a voluntary debt restructuring process, which stabilised Jolla’s financing situation, allowing it to once again focus on its day-to-day business.
Ashurst has advised Atlas Iron Limited (Atlas or the Company) on the approval and implementation of a creditors' scheme of arrangement, to restructure debt valued at US$267,427,500.
On 23 December 2015, Atlas announced that it had signed a Restructuring Support Agreement (RSA) with certain of the lenders to its US$275,000,000 Term Loan B facility established under a Syndicated Facility Agreement dated 10 December 2012 (SFA), (Lenders).
Pursuant to the transaction contemplated by the RSA (Financial Restructuring), among other things:
Darrois Villey Maillot Brochier has advised Financière Flo on the restructuring of Group Flo’s bank debt.
The Pfleiderer Group has received an accolade for outstanding restructuring efforts at Handelsblatt’s Restrukturierung 2016 event following its successful group reorganisation. The jury praised, in particular, the skills and professionality demonstrated by the advisors during the reorganisation process.
Global law firm White & Case LLP has advised PQ Licensing SA, the holding company of Le Pain Quotidien, on a corporate reorganization leading Cobepa to acquire 30 percent of its share capital.
Le Pain Quotidien is a Belgian bakery-restaurant group founded in Brussels in 1990 that currently operates more than 240 locations worldwide. The transaction closed in Brussels on April 26, 2016.
Noerr has advised Zimmer Biomet on the reorganisation of its shareholding in Zfx GmbH. Zfx offers dentists, dental laboratories and milling centres high-end applications from the entire dental process chain. With Noerr’s help, Zimmer Biomet, a leading global provider of orthopaedic solutions and dental implants, secured the right to increase its shareholding up to a complete takeover in the future. At the same time, Zimmer Biomet supplied Zfx with fresh capital to continue its growth.
Cadwalader represented ABN AMRO Capital USA LLC, as agent for a syndicate of first-lien bank lenders, in connection with the comprehensive balance sheet recapitalization of Eagle Bulk Shipping, Inc., a leading global owner of Supramax dry bulk vessels that range primarily in size from 50,000 to 60,000 deadweight tons and transport a broad range of major and minor bulk cargoes, including coal, grain, ore, petcoke, cement, steel and fertilizer, along worldwide shipping routes.
As part of its comprehensive corporate restructuring, Residual Debt Services Limited (formerly known as African Bank Limited (in curatorship)) has successfully completed its voluntary exchange offer launched on 4 February 2016 to various classes of its creditors. In the context of the exchange offer, senior creditors exchanged their existing debt for corresponding instruments newly issued by the new African Bank Limited.
Ashurst advised Bank of Cyprus in relation to the financial restructuring of the c. €400m indebtedness of Leptos Group, one of Cyprus' biggest real estate and building developers.
The key elements of the agreement included the restructuring of the terms of the group's loans, including through a debt hive-up, and a comprehensive restructuring of the collateral package, accompanied by a corporate reorganisation.