Akin Gump Takes Restructuring Team of the Year Honors at Legal Business Awards
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(London) – Akin Gump is pleased to announce that it was recognized as Restructuring Team of Year in the 2020 Legal Business Awards.
The award recognizes teams that have “played a critical role on the most complex restructuring mandates of the year” in representations that feature “clear examples of innovation” and where the lawyers achieved crucial outcomes for their clients.
Akin Gump’s work advising Croatian food and drink, agriculture and retail conglomerate Agrokor on its historic restructuring was spotlighted by the awards committee. Agrokor was Croatia’s largest corporate group, with €5.2 billion in third-party debt edging out €5 billion in annual revenues. Its restructuring, according to Akin Gump’s Legal Business Awards profile, was complicated by a highly complex corporate structure and a diverse creditor group that included international and regional financial institutions and 6,000 non-financial institution creditors.
The Legal Business Awards highlighted the work of the Akin Gump deal team, which was led by London financial restructuring partners Liz Osborne and James Roome. Counsel Jon Webb also played a significant role in the transaction, which involved advising Agrokor on the negotiation and implementation of a settlement plan under a law drafted and enacted for that purpose by the Croatian parliament, represent creditors’ interests and devise structures to handle issues arising from international sanctions concerns, among other accomplishments.
Legal Business noted that this highly complex, large-scale process was a first for Croatia and “saved a company of major importance to the country, the Balkans, and Central and Eastern Europe.”
The Agrokor restructuring was also recognized earlier this year, when it was honored with Restructuring Deal of the Year at the IFLR Europe Awards (learn more here). Further details about the restructuring and the Akin Gump team are also accessible here.
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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