Düsseldorf – McDermott Will & Emery advised German KRÜGER Group on the restructuring of its international distribution system.

KRÜGER is increasingly focusing on a vertical integration of international sales, which up to now has been carried out via sales representatives in many important foreign markets. As a first step, KRÜGER has now acquired the former commercial agent Fairway (G.B.) Ltd. and its UK business. The acquisition of further business from commercial agents is in preparation.

Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.

Willkie’s London and New York offices advised a syndicate of lenders on the refinancing of two facility agreements, secured by vessels owned and chartered by an international container ship operator.

Milbank, Tweed, Hadley & McCloy LLP has represented a committee of export credit agencies, facility agents and investment banks holding approximately $1 billion of unsecured debt in the restructuring of the Brazilian telecommunications company, Oi S.A. Taking over two years and spanning multiple jurisdictions, Oi’s debt restructuring is the largest insolvency in Brazilian history and largest debt restructuring in Latin America with over $20 billion of debt restructured as part of the transaction.

Global law firm White & Case LLP has advised the coordinating committee representing a bank group holding US$7.4 billion in secured debt, on the successful restructuring of Seadrill Limited, one of the world’s largest offshore oil drilling companies.

Seadrill, which grew rapidly over the past decade and benefits from one of the youngest fleets of vessels in the market, faced three key issues prior to the launch of its restructuring in early 2016:

    the knock-on effects of the downturn in the oil market

DLA Piper represented Authentic Brands Group, LLC (ABG) in their purchase of the US shoe and accessories company Nine West Holdings Inc. ABG's successful auction bid is valued over US$340 million in connection with Nine West's chapter 11 case in the US Bankruptcy Court for the Southern District of New York. Nine West's portfolio also includes such iconic brands as Anne Klein, Gloria Vanderbilt and Bandolino footwear and handbags.

Berlin—Global law firm Dentons has advised Paracelsus-Kliniken Deutschland GmbH & Co. KGaA in the preparation and submission of its insolvency plan - which includes restructuring measures, the transition to the investor as well as the satisfaction of the creditors - within the framework of self-administration. The insolvency plan was unanimously approved by all groups of creditors on May 23, 2018. In April 2018, the plan was also approved by the Osnabrück District Court. The restructuring team was headed by Andreas Ziegenhagen, Daniel F. Fritz and Dr.

Milbank, Tweed, Hadley & McCloy LLP represented an ad hoc group of Global A&T Electronics Ltd.’s (GATE) initial noteholders in connection with the confirmation of its prepackaged plan of reorganization as part of voluntary proceedings under Chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York, White Plains Division.