Maples and Calder has been recognised for their recent Cayman Islands and Irish legal advice to Ocean Rig UDW and three of its subsidiaries on the successful restructuring of US$3.7 billion of financial indebtedness. The complex and cutting edge restructuring, which is the largest ever Cayman Islands cross border debt restructuring, secured the firm “Restructuring of the Year ($1B – $5B)” and “Energy Deal of the Year” at the 10th Annual M&A Advisor Awards.
The M&A Advisor Awards recognise excellence in deal making, restructuring and financing, celebrating the contributions and achievements of leading firms and professionals. An independent judging panel of industry experts evaluated over 250 nominations from across the world from a wide and varied group, with deals valued from $10 million to tens of billions.
In addition to being the largest Cayman Islands cross border debt restructuring, the transaction involved the first ever Cayman Islands schemes of arrangement of foreign incorporated companies and the first use of a Cayman Islands STAR trust in a restructuring.
The Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas and Amanda Lazier. Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partners Suzanne Correy and Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond.
“We are honoured to be recognised by M&A Advisor for our role in this groundbreaking Cayman Islands restructuring. These awards are a further endorsement of our expertise and ability to provide unrivalled legal advice in this area,” commented Aristos Galatopoulos, Partner and global head of Maples and Calder’s Insolvency practice.
Via: Press Release