A cross-practice team at Nabarro has guided UK Coal through a second and innovative restructuring following a catastrophic fire at the company's Daw Mill in February this year. The restructuring is of national importance because the business accounts for the production of 5% of the UK's energy needs.
DLA Piper announced today that its Restructuring practice received top honors at the 2013 Turnaround Atlas Awards. The firm was recognized in three categories: the Mid Markets Restructuring Law Firm of the Year, Chapter 11 Reorganization Deal of the Year for its work representing Reddy Ice in its Chapter 11 reorganization, and Consumer Products Turnaround of the Year for its work representing Authentic Brands Group in its acquisition of the HMX Group.
SJ Berwin advised Perceva, an investment company specializing in companies redeployment and holding Perceva Holding, through the implementation of the proposed recapitalization of Groupe Monceau Fleurs.
An investment protocol with the shareholders of Groupe Monceau Fleurs will allow the chain of florists to meet its debts in the short term, complete its restructuring and complete refocusing on its traditional business.
Speechly Bircham is advising longstanding client Kryso Resources Plc on the proposed establishment of a new holding company incorporated in the Cayman Islands for the Kryso group of companies.
On 24 May 2013 Kryso Resources Plc shareholders approved the recommended proposals to establish a new holding company for the Kryso group, which has been incorporated in the Cayman Islands, by way of a court-approved scheme of arrangement and associated reduction of capital.
The principal reasons for Kryso wishing to undertake the scheme are:
Speechly Bircham's corporate advisory team recently acted as the legal adviser to Mithras Investment Trust plc (the Company) on its first tender offer, which was announced to shareholders at the Annual General Meeting of the Company on 8 May 2013.
Clifford Chance advised a consortium of banks led by Portigon AG on the restructuring of Kruse Group, based in Balve (North Rhine-Westphalia), and the subsequent sale of the loan receivables to Stockmeier Group.
Clifford Chance advised the servicing and real estate advisor Hatfield Philips International Limited ("HPI"), London, in its capacity as a special servicer, on restructuring and refinancing a securitised real estate loan of around EUR 168 million (original volume). The loan granted to Griffin Rhein-Ruhr GmbH & Co. KG (formerly Vivacon Rhein Ruhr Portfolio I. GmbH & Co. KG) ("Griffin KG") by Credit Suisse International (formerly Credit Suisse First Boston International) ("CSI") in 2005 served to finance a real estate portfolio in Germany.
Ashurst is advising Fitness First Australia Pty Limited (FFA) and the other Australian entities in the Fitness First group, on the A$910 million restructuring of secured facilities for the Fitness First Group.
The restructuring involves the implementation of a debt-for-equity swap and the disposal of non-performing clubs in Fitness First's global portfolio.
Ashurst has advised the Independent Public Business Corporation of Papua New Guinea (IPBC) on the historic US$180 million corporate reorganisation of the mobile telecommunications carrier in Papua New Guinea (PNG) and Solomon Islands, Bemobile Limited, including its proposed management arrangements with Vodafone Fiji and the subscription for new equity by Fiji National Provident Fund (FNPF).
On behalf of the Independent State of PNG, IPBC is the shareholder and manager of most of PNG's state-owned commercial enterprises and assets, including Bemobile.
International law firm Pinsent Masons has advised Kevin Hellard of Grant Thornton, the trustee in the bankruptcy of the former Westlife singer Shane Filan, on a new record deal which will enable his creditors to share in his financial rewards.
Shane Filan, who was declared bankrupt last year, has signed a new solo record deal with London Records in a unique transaction that unusually included lawyers from the restructuring world as well as the music business.