London—Dentons has advised Chris Iacovides and Andri Antoniou (of CRI Group), the joint liquidators of Mriya Agro Holding Public Limited (in liquidation in Cyprus), in relation to the successful debt restructuring of this substantial Ukrainian agro-industrial group.

This complex, three-year transaction involved a group-wide corporate reorganisation of the industrial asset and land bank holding companies of the Mriya group alongside a financial restructuring which reduced the Mriya group debt from US$1.1 billion to US$309.5 million. The successful implementation of this innovative restructuring has enabled the Mriya group business to continue and provides the best possible return to all creditors in the liquidation.

The Dentons team was led by London-based Restructuring partners Neil Griffiths and Celia Hayward, Capital Markets partners David Cohen and Cameron Half, and involved Dentons' Restructuring teams in Ukraine and Germany.