We represent private placement investors in all aspects of restructuring their investments, from negotiating and documenting amendments and modifications and intercreditor arrangements, to representing noteholders in all aspects of multicreditor restructuring and workout negotiations and transactions.
Our lawyers have a vast amount of experience representing private placement noteholders in a wide range of restructuring matters involving issuers in the U.S., Canada, Europe, Australia and beyond. We are particularly effective at understanding the dynamics of a situation, and tailor our approach accordingly. This is particularly important where a public company is involved or where an issuer’s difficulties are temporary. We are very experienced at solving complex intercreditor issues and offering creative solutions to investors to solve these issues in a prompt and commercially-appropriate manner.
We have long-standing and strong relationships with foreign counsel, financial advisors, accountants and commercial and workout bankers around the world. These relationships are critical to effectively representing private placement investors in foreign markets.
We have been involved in a substantial number of the significant private placement restructurings and workouts known in the market including:
- Arrium Limited – Counsel to the noteholder group in restructuring of the company (in Administration)*
- Carillion plc – Counsel to the private placement noteholders in the amendment negotiations to address liquidity problems and in efforts to restructure the Group’s balance sheet
- CEMEX – Counsel to noteholder group in restructuring discussions with the company*
- Centro Properties Group – Counsel to senior lender group in restructuring*
- Chicago Bridge & Iron – Counsel to the noteholder group in an out-of-court restructuring*
- Deutz AG – Counsel to the private placement noteholders on the financial restructuring and refinancing of a German automotive company
- Fletcher Building – Counsel to the noteholder group in an out-of- court restructuring and amendment*
- Interserve Plc – Counsel to the private placement holders on the restructuring of a UK-based support services and construction company
- Jarvis plc – Counsel to the private placement noteholders and other creditors on the financial restructuring of a UK-based construction and services group
- Leeds United Football Club Limited – Counsel to the private placement noteholders on the financial restructuring of English premiership football club
- MJ Maillis S.A. – Counsel to the private placement noteholder group on the financial restructuring of senior debt of a Greek packaging company
- Parmalat S.p.A. – Counsel to the private placement noteholders and other creditors on the insolvency and financial restructuring of a major Italian food group
- Pendragon PLC – Counsel to the private placement noteholder group on the debt restructurings and refinancing of a UK-based automobile distributor and retailer
- Pengrowth – Counsel to the noteholder group in out-of-court restructuring*
- Phoenix Pharmahandel GmbH & Co KG – Counsel to the private placement noteholder group regarding the standstill arrangements following default of a German pharmaceutical company
- Premier Oil plc – Counsel to the private placement noteholders in the US$3.5 billion restructuring of one of the North Sea’s largest independent oil companies. The restructuring was implemented through Scottish schemes of arrangement and a consensual restructuring agreement
- Quinn Group Limited – Counsel to the private placement noteholders on the €1.2 billion financial restructuring of one of Ireland’s largest companies
- Royal Imtech N.V. – Counsel to the private placement noteholder group on the financial restructuring and subsequent bankruptcy of a Dutch technical services provider
- Technicolor S.A. – Counsel to the private placement noteholders on the financial restructuring of a French media company (formerly known as Thomson SA)
- Ultra Petroleum – Counsel to the noteholder group in out-of-court restructuring discussions with the company and subsequent make-whole and post-petition interest dispute in bankruptcy*
- Uralita B.V. – Counsel to the private placement noteholders on the debt restructuring and subsequent sale of notes of a building materials group with operations in Spain and other parts of Europe
*Matters handled by Akin Gump lawyers prior to their joining the firm.