Dechert Advises ad hoc Group of Noteholders of DTEK Finance Plc on US$1.5 Billion Debt Restructuring
May 25, 2021
Dechert advised an ad hoc group of noteholders on the restructuring of approximately US$1.5 billion of indebtedness pursuant to a scheme of arrangement under Part 26 of the Companies Act 2006. The scheme was sanctioned on 13 May 2021 and the restructuring was completed on 17 May 2021. Under the terms of the restructuring, noteholders received new notes issued by DTEK Finance plc and NGD Holdings B.V. Application was also made, and granted, for Chapter 15 recognition of the scheme in New York.
The Dechert team was led by London partners Solomon J. Noh and Alastair Goldrein, with partners Jeff Katz, Giles Belsey, Simon Fawell and Mark Stapleton; London associates Chris Horrocks, Tom Caster, James Armshaw, Emma Byford and Jonathan Groves; New York associates Dienna Corrado and Curtis Weber; and trainees Giselle Williams and Harriet Geddis.
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