Weil advises on one of the largest leveraged EMEA deals of the year, the restructuring of the South African retail group, Edcon

The complex restructuring of the well-known South African retail group, Edcon, completed yesterday. Weil played a leading role in the restructuring, advising the ad hoc committee of senior secured noteholders which included Franklin Templeton, Brigade, AllianceBernstein and Harvard Management Company. The transaction involved eleven months of extensive negotiations with variousRead the full article →

Marblegate: what does it mean for European restructurings?

In a highly-anticipated decision on a long-running bondholder dispute, the US Court of Appeals for the Second Circuit issued its judgment last week in Marblegate Asset Management LLC v Education Management Corp.  It concluded that “Section 316(b) [of the US Trust Indenture Act 1939] prohibits only non-consensual amendments to anRead the full article →

Looking Ahead to 2017

Weil’s London Business Finance and Restructuring team is excited to bring you our Looking Ahead to 2017 bulletin, highlighting important trends, topics, and case developments likely to impact the restructuring and insolvency market next year. We hope you enjoy this first edition.

UK High Court judgment on ISDA Default Rate calculations in Lehman Waterfall IIC, and supplemental judgment on statutory interest and currency conversion claims in Waterfall IIA and IIB

The High Court in London handed down judgment on Part C of the Lehman Waterfall II Application on 5 October 2016. The judgment examines the extent of creditors’ entitlements to Default Rate interest on debts arising under ISDA Master Agreements governed by English law and New York law. As someRead the full article →