Maples BVI Advises on US$1.5 Billion Restructuring
29 Jul 2020
A multi-disciplinary team in the firm's BVI office advised on the restructuring which was supported by the successful appointment of the first ever provisional liquidators in the BVI. This transaction followed a landmark decision by the courts of the BVI and demonstrates the ability of BVI entities and credit providers to use this mechanism to preserve and protect a corporate restructuring.
BVI-based Partner, Chris Newton who led the team on this award-winning transaction commented, "We were delighted to advise on this highly complex and novel transaction. The Maples Group's market-leading BVI team has distinguished capabilities and expertise in the restructuring space which was a key factor in assisting our clients to successfully close this deal."
A complex and notable deal, the transaction received recognition at the IFLR Americas 2020, winning the Restructuring Deal of the Year.
Cleary Gottlieb acted as US counsel to the lenders alongside the Maples Group.
Partner British Virgin Islands
T: +1 284 852 3043
Managing Partner British Virgin Islands
T: +1 284 852 3027