Financial News honored Weil’s Business Finance & Restructuring practice with its Restructuring/Bankruptcy Team of the Year award at the 2016 Legal Awards. The practice was lauded for its work on several restructurings in 2015 and was commended as “a heavyweight in the bankruptcy arena.”
Among the matters that garnered recognition was the Firm’s representation of long-term client Barclays in its restructuring of £1.5 billion of debt issued to UK healthcare firm General Healthcare Group. The Weil team that advised Barclays was led by Adam Plainer.
Weil was also praised for its counsel to a group of bondholders, led by asset manager Franklin Templeton, on the groundbreaking restructuring of $18 billion in Ukrainian sovereign debt. The Weil team that advised the bondholder group was led by partners Andrew Wilkinson and Alexander Wood.
Andrew Wilkinson and Paul Bromfield advised the largest senior lender to steel trader Stemcor – one of Britain’s largest private companies – in its $2 billion debt restructuring, and Advent International, the indirect majority shareholder of Towergate Finance, in the restructuring of its £520 million high-yield debt, led by Andrew Wilkinson and Alexander Wood.
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Weil was awarded “Restructuring Team of the Year” at the Legal Business Awards 2016 for its work on the ground-breaking Ukraine sovereign debt restructuring deal. Weil advised on Ukraine’s $18 billion sovereign debt restructuring – it advised the ad hoc creditors’ committee (“AHC”) which consisted of four members, including Ukraine’sRead the full article →
Weil Gotshal & Manges has jointly produced a new report into European insolvency law reform with AFME and Frontier Economics, entitled “The potential economic gains from reforming insolvency law in Europe”. The report was submitted to the European Commission on 22 February 2016. The research shows that European insolvency lawRead the full article →
The recent decisions in Re MF Global UK Ltd and Re Omni Trustees Ltd give conflicting views as to whether section 236 of the Insolvency Act 1986 has extra-territorial effect. In this article, we look at the reasoning in the two judgments and discuss a possible further argument for extra-territorialRead the full article →
In this bulletin, we evaluate the use of schemes of arrangement and consent solicitations / exchange offers as alternative mechanisms of delivering a bond restructuring. We outline the nature of distressed exchange offers before taking a closer look at: the Edcon and Ukraine restructurings; the pros and cons of schemesRead the full article →