A&O, Bingham and CC among firms on €1.3bn Quinn restructuring
Allen & Overy (A&O), Bingham McCutchen and Clifford Chance (CC) are among a raft of firms to have advised on the €1.3bn (£1.1bn) restructuring of business conglomerate Quinn group. A&O advised Quinn led by London restructuring managing partner Earl Griffith and banking partner David Campbell, alongside tax partner Lydia Challen, corporate partner Don McGown and real estate partner Imogen Moss.
December 09, 2011 at 06:57 AM
2 minute read
Allen & Overy (A&O), Bingham McCutchen and Clifford Chance (CC) are among a raft of firms to have advised on the €1.3bn (£1.1bn) restructuring of business conglomerate Quinn group.
A&O advised Quinn led by London restructuring managing partner Earl Griffith and banking partner David Campbell, alongside tax partner Lydia Challen, corporate partner Don McGown and real estate partner Imogen Moss.
Irish firm A&L Goodbody also took a role for Quinn, fielding a team including corporate partner John Coman, restructuring and insolvency head David Baxter and banking and finance partner Adrian Burke.
Bingham acted for the noteholders, with a team led by London finance head Barry Russell and finance partner Tom Bannister. Maples and Calder also advised the noteholders.
Meanwhile, CC and Irish firm Arthur Cox advised the bank lenders. The names of the noteholders and bank lenders have not been disclosed.
The CC team was led by London banking and finance partners Charles Cochrane and Iain White.
Griffith (pictured) said: "This has been one of the most challenging restructurings to take place this year, and we are extremely proud to have helped it reach a successful conclusion.
"Even aside from the complexity of the group's financial affairs, the restructuring was complicated by the number of parties to the transaction and the need for various related transactions to proceed simultaneously."
The restructuring was concluded this month after two years of talks, and will see the Northern Ireland-based company's debt separated into manufacturing and non-manufacturing divisions.
Quinn produces cement and concrete products, container glass, radiators and plastics as well as operating in the general and health insurance, hospitality and real estate sectors.
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