Scott's recent representations include:
- Advising Ocean Rig UDW Inc., in relation to the successful restructuring of approximately $4.2bn of debt through four interconnection Cayman Islands schemes of arrangement. The restructuring included, amongst other things, the implementation of four interconnected Cayman law schemes of arrangement proposed separate group companies which released approximately $3.7bn of bank and bond debt in exchange for a combination of (i) 90% of the post restructuring of the group; (ii) $288m of cash; and (iii) $450m of new debt. The schemes were immediately preceded by the appointment of Joint Provisional Liquidators (“JPLs”) and involved proceedings under Chapter 15 of the US Bankruptcy Code to obtain recognition of the appointment of the JPLs and the schemes as foreign main proceedings. The scheme proceedings and the Chapter 15 proceedings were also contested. In addition, one debt silo was restructuring via a consensual amendment and restatement of its $450m term loan facility outside of the scheme process.
- Acting for GLAS Trust Corporation Limited as incoming indenture trustee in relation to the $2.2bn debt restructuring of Edcon, South Africa’s largest non-food retail business. The restructuring involved a South African compromise of the senior and senior secured classes of debt.
- Acting for GLAS Trust Corporation Limited as incoming indenture trustee in relation to the enforcement of a €350m New York Law governed indenture by way of an appropriation of a French law term loan to collapse a back-to-back debt structure to enable bondholders to receive consideration as direct creditors in a French sauvegarde procedure as part of a €1.1bn debt restructuring.
- Acting for Duff &
Phelps as administrators of ReachLocal an internet based directories business
in relation to the pre-packaged administration sale of the company’s business
- Advising WorldRemit in relation to its £60m financing provided by SVB and Triplepoint Capital.
- Acting for Bluefield Solar in relation to the distressed acquisition and financing of a portfolio of UK solar assets from SunEdison through a 363 sale process
- Acting for Infracapital in the structuring of a £200m investment into a platform for the acquisition and development of UK based bioenergy projects.
- Acting for the ad hoc group of bondholders of a €200m high yield bond of Waste Italia in restructuring negotiations prior to the company filing for concordato in Italy.
- Advised Magyar Telecom BV, a holding company of Invitel ZRT, the Hungarian telecoms company, in relation to the successful restructuring of its $425m bonds.
- Advising the co-ordinating committee of lenders in relation to the out of court restructuring of Torm A/S and its subsidiaries involving the restructuring of the group’s $1.8bn of secured bank debt.
- Advising the steering committee of bondholders in relation to the consensual restructuring of one of the largest commercial banks in Kazakhstan.
- Advising Zolfo Cooper as administrators of the Peverel Group in relation to the accelerated M&A of the group managing 200,000 units throughout the UK.
- Advising Wilmington Trust in relation to the €1.2bn restructuring of TeleColombus GmbH.
- Advising Wilmington Trust as trustee in relation to the €135m restructuring of Gallery Capital.
- Advising Barclays Bank PLC in relation to the work-out of JJB Sports plcAdvising Borders Book shop in relation to its emergency funding requirements.
- Advising the directors of MFI prior to the company going into administration.
- Advising various funds in relation to their claims against Lehman and MF Global.