Practice & Background

Neil Devaney has a wide range of finance, restructuring and insolvency experience in EMEA and the United States. His current practice focuses on advising par and distressed investors on the restructuring of EMEA companies.

Mr. Devaney is recognized as a leading lawyer for restructuring and insolvency by Chambers UK and is recognized in Legal 500.

Representative Matters

Mr. Devaney’s engagements include acting for

Ad-Hoc Groups of Senior Creditors

  • secured bondholders of Avanti Communications, a UK listed satellite operator, in connection with the group's financial difficulties
  • unsecured noteholders of Barratt and Taylor Wimpey, two of the UK’s largest homebuilders, on their respective debt restructurings and refinancings
  • unsecured bondholders of Frigoglass, a Greek listed glass and refrigeration business, in connection with the group's financial difficulties
  • unsecured bondholders of Glitnir, Kaupthing and Landsbanki, the collapsed Icelandic banks, on debt for equity swaps implemented under composition in Iceland
  • secured bondholders of Magyar Telecom (Invitel/HTC), a Hungarian telecoms operator, on a debt for equity swap implemented using a scheme of arrangement in the UK
  • unsecured noteholders of MJ Maillis, a Greek listed packaging business, on a debt for equity swap
  • unsecured noteholders of Northgate, a UK listed vehicle leasing business, on a rescue rights issue and debt restructuring
  • secured bondholders of Oakfin, a Luxembourg finance vehicle, in connection with the collapse of Portuguese bank Banco Espirito Santo
  • unsecured noteholders of Quinn Group, an Irish building products conglomerate, on a debt for equity swap implemented using a CVA in the UK
  • secured bondholders of Seabird Exploration, a Norway listed seismic survey group, on a debt for equity swap
  • unsecured noteholders of Technicolor (Thomson), a French listed media group, on a debt for equity swap implemented under sauvegarde in France
  • secured bondholders of WIND Hellas, a Greek mobile operator, on a debt for equity swap implemented through administration sales and a scheme of arrangement in the UK

Ad-Hoc Groups of Junior Creditors

  • mezzanine lenders to Bulgaria Telecom (VIVACOM), a Bulgarian mobile and fixed line operator, on a debt for equity swap implemented using a scheme of arrangement in the UK
  • unsecured bondholders of Edcon, a South African retailer, on a distressed exchange
  • mezzanine lenders to Findus, a Scandinavian frozen foods group, on a debt for equity swap
  • lenders to hibu (Yell), a UK directories business, in connection with the group's financial difficulties
  • unsecured bondholders of Songa Drilling, a Norwegian oil services business, on a debt for equity swap

Single Creditors

  • a significant bondholder of A.T.U, a German autoparts business, on a distressed exchange and debt for equity swap implemented through an administration sale in the UK
  • a lender to Cortefiel, a Spanish retailer, on an amend and extend implemented using a scheme of arrangement in the UK
  • a bilateral bondholder of Filmax, a Spanish entertainment and film distribution group, on a work-out and debt rescheduling
  • a majority senior bondholder of Four Seasons, a UK healthcare business, in connection with the group's financial difficulties
  • a junior creditor of Jarvis, a UK listed construction group, on a debt for equity swap
  • a bond provider the debt restructuring of MyTravel, a UK listed travel operator, implemented using a scheme of arrangement in the UK

Administrators

  • the administrators of Afren, a UK listed E&P group with oil assets in Africa and the Middle East, on the group's wind down and insolvency
  • the administrators of African Minerals, a UK listed mining group with operations in Sierra Leone, on the group’s insolvency

Awards & Accolades

  • Chambers UK, Restructuring and Insolvency
  • Legal 500, Corporate Restructuring and Insolvency