Watson Farley & Williams (“WFW”) is pleased to announce that a deal the firm advised on has won Deal of the Year – Restructuring at the IFLR Europe Awards 2024.
The IFLR Europe Awards focus on legal innovation through dealmaking and celebrate work that improves the cross-border investment environment.
WFW advised DNB Bank ASA (“DNB”) on a first-of-its kind US$900m restructuring of international shipping company Vroon’s senior secured debt by way of a debt-for-equity swap. The restructuring was implemented using an English scheme of arrangement and a Dutch WHOA procedure, the first time that these two restructuring procedures have been used together.
The WFW London Assets & Structured Finance team that advised DNB was led by Partner Patrick Moore, supported by Senior Associate Laura Gerrard and Associates Louis Brunet and Jan Schneidereit. Dispute Resolution Partner Charles Buss and Restructuring & Insolvency Stephen Parker provided relevant expertise.
Patrick commented: “We are delighted that a transaction we advised on has been recognised and celebrated at the IFLR Europe Awards. The deal was a successful cross-border effort that involved significant challenges given the unprecedented nature of the restructuring, and this award highlights WFW’s credentials as a leading advisor on first-of-their-kind restructurings in the transport and maritime sectors”.
