- Significant Matters
Restructuring is broader than formal bankruptcy or liquidation processes. It includes covenant re-setting, ‘amend and extend’ discussions, forbearances or waivers of default, consensual solutions such as refinancing, sale of non-core assets, cash injections and restructuring of the business or equity, as well as formal processes such as schemes of arrangement, business rescue and liquidation.
Our Restructuring Practice operates as an integrated team across all of our offices and practices to provide our clients with a user-friendly engagement model and service of a consistently high quality.
- comprehensive experience ranging from informal work-outs, bank facility extensions, covenant amendments, consensual restructurings, scheme of arrangement, administration orders and formal insolvency measures such as liquidation;
- significant cross-border restructuring experience in Europe and the US or where any of the creditors or stakeholders are European or US based;
- expertise in complex domestic and cross-border finance transactions;
- extensive knowledge of leveraged and acquisition finance, structured finance, capital markets, projects and infrastructure, real estate finance, trade and export finance, commodities finance, derivatives, securitisation, preference share finance, subordinated debt and insolvency and restructuring;
- English law qualified practitioners to advise on English law governed facilities and instruments;
- experience of advising on many of the continent’s ground-breaking corporate transactions as well as significant corporate reorganisations;
- well-respected dispute resolution expertise and extensive experience in court driven insolvency proceedings as well as a range of litigation and litigation tactics often required in restructurings; and
- the ability to draw on in-house expertise in other areas that may be required in a complex restructuring including: regulatory law (particularly in sectors such as mining, pharmaceuticals and healthcare and technology, media and telecommunications), pensions and employment law, competition and merger control and real estate law.
We have experience advising on a wide range of transactions throughout Africa and considerable experience in cross-border restructurings that involve simultaneous insolvency filings in multiple jurisdictions. This extends to advising on pan-European and coordinated US/ Europe restructurings.
Our clients include large national clients in African jurisdictions where we have representation, as well as multinationals and international law firms acting on their behalf, non-government entities, governments, state-owned entities and financial institutions.
Our specialist services include:
- Contingency planning
- Cross-border restructurings, particularly cross-border group restructurings that involve simultaneous insolvency filings in multiple jurisdictions
- Dealing with auditor concerns regarding ‘going concern’ status and related issues
- Debt restructuring and rescheduling – both creditor-led and debtor-led
- Directors’ duties during periods of financial distress and restructurings
- Distressed M&A transactions
- Equity capital raising and restructuring
- Formal restructuring procedures such as schemes of compromise, schemes of arrangement and debt for equity swaps, exchange offers, business rescue and liquidation
- Investigation, asset tracing and insolvency litigation
- Refinancing of finance facilities
- Standstill and forbearance arrangements
African Legal Awards, 2021
Restructuring Team of the Year
Chambers and Partners, 2022
‘fields a strong restructuring group with expertise across a diverse range of areas’
‘handles a variety of restructuring mandates for some of the region’s largest manufacturers, telecoms companies and financial institutions’
‘active representing business rescue practitioners, assisting with post-commencement documentation, structuring of transactions and disputes resulting from counterclaims and proceedings’
‘Regularly acting for creditors and bondholders, the firm frequently plays a pivotal role in the sale of subsidiaries and other assets as part of formal restructuring processes’