Premier Oil Scheme – Scottish Sanction Judgment

On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing liveRead the full article →

Doncasters’ Restructuring Successfully Implemented

On 6 March 2020, the restructuring of Doncasters Group’s £1.22 billion funded debt was completed. Following a successful non-core disposals program, the Doncasters Group (a leading worldwide supplier of high quality engineered components for the aerospace, industrial gas turbine and specialist automotive industries) operates from 12 principal manufacturing facilities basedRead the full article →

syncreon’s Financial Restructuring Implemented By Landmark English Schemes of Arrangement With Parallel Chapter 15 and CCAA recognition

syncreon Group Holdings B.V. (the “Company” and together with its subsidiaries, “syncreon”) completed its landmark financial restructuring today. As has been widely reported, syncreon’s reorganization is perhaps the first-ever use of an English scheme to restructure debt issued by a U.S.-based global enterprise. This also appears to be the firstRead the full article →

First Irish Creditor Scheme – Complex Cross Border Securitisation Restructuring

Weil advised Ambac Assurance UK Limited (“Ambac”) in relation to the restructuring of reinsurance liabilities of Ballantyne Re plc (“Ballantyne”), through an Irish scheme of arrangement (the “Scheme”) paired with U.S. Chapter 15 recognition. The liabilities comprised New York law-governed senior secured notes of approximately U.S.$1.65bn issued by Ballantyne inRead the full article →