SullCrom, Freshfields and Cleary called up for €1bn Euro Disney bailout
Sullivan & Cromwell, Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have landed key roles advising on the €1bn (£790m) emergency rescue package for Euro Disney.
October 14, 2014 at 07:13 PM
1 minute read
Sullivan & Cromwell, Freshfields Bruckhaus Deringer and Cleary Gottlieb Steen & Hamilton have landed key roles advising on the €1bn (£790m) emergency rescue package for Euro Disney.
The refinancing, which will see €400m (£317m) pumped into the business by parent company Walt Disney and a €600m (£477m) swap of debt into shares in the US group.
Disneyland Paris expects to make a loss of between €110m and €120m this year. The total debt burden at Euro Disney now stands at around €1.75bn (£1.39bn).
Sullivan's Paris-based team advising Euro Disney includes senior counsel Patrick Bonvarlet and associates Seela Apaya-Gadabaya, Catherine Naroz and Marine Le Quillec. Partner Nicolas de Boynes advised on tax matters with associate Pierre-Antoine Bachellerie. Frankfurt-based partner Krystian Czerniecki is advising on US law.
Freshfields' Paris employment head Emmanuel B
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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