Michael Panayi

Associate

Areas of Focus

Michael Panayi

Associate

michael.panayi@akingump.com

Areas of Focus

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Biography

Michael is an associate in our financial restructuring group and acts for creditors and debtors on complex consensual and non-consensual cross-border restructurings and formal insolvencies across a number of different sectors, including commodities, energy, healthcare and retail.

Representative Work
  • NMC Healthcare: Counsel to the creditors' committee to NMC Healthcare Ltd on its over $7 billion restructuring by way of the first ever administration and deed of company arrangement in Abu Dhabi Global Markets, and subsequently the restructured group. *
  • Matalan: Represented the U.K. retailer Matalan on its 2023 recapitalization and on its 2020 £50 million CLBILS liquidity raise and associated English scheme of arrangement. *
  • Codere: Advised the company in relation to its second scheme of arrangement of New York law-governed notes, including the successful defence of a challenge to the scheme on class and fairness grounds. *
  • Electricity Public Utility: Represented a group of lenders in relation to a South African electricity public utility. *
  • Oil & Gas Portfolio: Represented a senior secured lender on multiple coordinated security enforcements and insolvency proceedings in relation to a portfolio of oil & gas assets. *
  • Oil & Gas Exploration company: Represented the coordination committee of senior secured lenders in relation to a reserve-based lending facility to a multinational oil & gas exploration company. *
  • Hotel Group: Represented a mezzanine lender, in relation to the financial restructuring and sale of a household name U.K. hotel group. *
  • Prosafe: Represented the company on its restructuring by way of Singapore schemes of arrangement, parallel Norwegian reconstruction process and recognition procedures in various jurisdictions.*
  • Nyrstar: Counsel to the coordination committee of senior secured lenders in relation to the $2 billion Nyrstar restructuring implemented via a mix of consensual arrangements and English schemes of arrangement. *
  • British Steel: Counsel to the Official Receiver and Special Managers of British Steel on the sale of the business and assets to Jingye Steel and Iron. *

*Matters handled prior to joining Akin.

Languages
  • Greek

Education
  • LL.M., BPP University Law School, England, 2018

  • LL.M., University of Cambridge, 2017

  • M.A., University of Cambridge, 2016

Bar Admissions
  • Solicitor, England and Wales

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