Akin Gump Advises Ad Hoc Committee of Holders of £485 Million Notes Issued by intu Metrocentre Finance plc
(London) – Akin Gump has advised an ad hoc committee of holders of £485 million notes issued by intu Metrocentre Finance plc, which are secured against the intu Metrocentre shopping centre and adjacent retail park in Gateshead, U.K., one of Europe's largest covered shopping and leisure centres.
In June 2020, the parent company, intu Properties Plc and several other entities in the intu Group went into administration.
Akin Gump advised the ad hoc committee on a transaction that involved the transition of the management of the Metrocentre out of the intu Group to Sovereign Centros and Savills, the provision of new financing for the Metrocentre Group, and certain amendments to, and forbearances in respect of, the terms of the notes approved under a consent solicitation process.
The Akin Gump team that advised the ad hoc committee was led by London financial restructuring partner Emma Simmonds, with financial restructuring partner James Terry, finance partner Sam Brodie, financial restructuring counsel Caoimhe Kennedy, financial restructuring associate Diana Dai and finance associate Sarah Challen McKee.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers and advisors in offices throughout the United States, Europe, Asia and the Middle East. Founded in 1945, the firm is proudly celebrating its 75th anniversary in 2020. #AkinGump75
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