Watson Farley & Williams (“WFW”) advised Trinity Investment D.A.C. (“Trinity”) and Deutsche Bank AG, London branch (“Deutsche Bank”) as secured creditors/participants in the restructuring of Italian shipping company Gestioni Armatoriali (“Gestioni”) under Article 182-bis of the Italian bankruptcy law and the establishment of a new ownership and management structure to operate and employ ten vessels previously in the Gestioni fleet.
Gilbert + Tobin has recently advised IMF Bentham Limited (IMF) on a successful restructure of its existing listed IMF Bentham Bonds (Bond Restructure) and a A$41.4 million conditional placement of new listed IMF Bentham Bonds to sophisticated and professional investors (Conditional Bond Placement). The Conditional Bond Placement was conducted to fund redemptions associated with the Bond Restructure and to fund growth initiatives and allow greater financial flexibility for IMF’s balance sheet.
Latham & Watkins has advised Eurona Wireless Telecom, S.A. (EWT) on the restructuring of its debt and the modification of the group’s capital and corporate structure. The transaction includes an injection of liquidity, the refinancing of existing debt, and a corporate reorganization involving the introduction of a double-Luxco structure and the creation of a new perimeter below the EWT group. Under the reorganization, EWT’s satellite, Wifi, and Fixed Wireless businesses have been transferred to a newly created company, Global Satellite Technologies, S.L.
Sidley acted as lead adviser to Famar on the successful restructuring, recapitalization and strengthening of its capital structure. The restructuring was completed on December 11, 2018 and sees Famar's pre-existing financial debt obligations reduced significantly from €234 million to €118 million, with maturities on all substantial facilities being extended by six years.
Loyens & Loeff Luxembourg acted as local legal counsel in the debt restructuring of the Famar Group, one of Europe’s leading service providers to the pharmaceutical industry. We assisted with the corporate legal implementation advice, the solvency advice during the conciliation and mediation process, the tax structuring aspects of the debt restructuring and the finance related advice for the new money injection and related security package.
Stuttgart – Circle Media Group, a leading European print and media company, has acquired the operations of German printer Körner Druck GmbH & Co. after reaching an agreement with the Heer Media Group. Körner Druck is the largest company in the Heer Media Group, which filed for insolvency under self-administration in August 2018. The transaction is currently awaiting approval from the competition authorities in Austria and Germany, with completion expected at the end of December 2018.
European law firm Loyens & Loeff has advised Brazilian telecom company Oi in its restructuring of more than USD 20 billion debt, the largest-ever debt restructuring in Latin America. Headquartered in Rio de Janeiro, Oi operates a vital telecommunications business, providing telecom services to some 63 million customers and employing over 143,000 direct and indirect employees.
Ashurst acted for Johnston Press PLC and its subsidiaries in relation to its strategic review culminating in a pre-packaged administration sale of the entire business and assets of the group to a new company owned and controlled by the group's bondholders which was announced the evening of Friday 16 November.
Eversheds Sutherland has advised Gibson, the global industry leader of the world famous guitars, on executing a synchronised insolvency action for its Gibson Innovations electronics business.
The action across 22 jurisdictions and four continents.
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised the AIG group (‘AIG’) on the restructuring of its entire European operations to ensure AIG’s readiness for Brexit.
The transaction is one of the largest insurance business transfers ever undertaken and is the first time that a UK insurance business transfer scheme has incorporated an outbound EU cross-border merger. It is also the first of the major insurance-related Brexit restructurings and therefore sets an important precedent for the market.