Overview

Our experienced restructuring team in Russia counsels clients on all aspects of restructuring and insolvency and bankruptcy, whether in anticipation of them or in dealing with their consequences. We serve a diverse client base encompassing financial institutions, financial advisors, accountants, corporates, trustees, custodians, private equity funds, shareholders, distressed debt funds, investors, bondholders, loan note holders and creditors' committees.

Our work ranges from out-of-court consensual debt restructurings and distressed transactions to formal in-court insolvency proceedings. In Russia, we advise on all aspects of debt restructuring for international and domestic corporate and financial institution clients seeking to maximise returns and mitigate losses.

Where a company's survival is not possible, we advise banks and other creditors in insolvency liquidations in seeking the effective and efficient recoveries. Our team has substantial experience in advising clients on maximising realisations through formal processes including supervision, financial rehabilitation, external management, insolvency liquidation and amicable arrangement.

Our restructuring team in Russia is part of our Global Restructuring Group, which is one of the world's leaders. With dedicated restructuring lawyers across the Americas, Asia Pacific, Europe and the Middle East, we have the knowledge, experience and resources to address our clients' restructuring and insolvency needs on a national and international basis. Around the world, our specialist restructuring lawyers 'on the ground' have extensive knowledge of local markets and the associated challenges our clients face.

Capabilities

We advise clients on the following aspects in the areas of restructuring and corporate insolvency:

Restructuring

  • Debt rescheduling, including addressing related tax issues
  • Distressed lending and security enhancement
  • Exit planning, including designing increased multiple exits value through sales to strategic and distressed buyers, insolvency proceedings, debt for equity swaps and, when appropriate, debt and/or equity raises
  • Financial institutions on and litigating the numerous conflict of law issues arising from cross-border insolvencies

Insolvency

  • Insolvency applications
  • Insolvency litigation
  • Recovery of foreign assets
  • Sale of estate property

Experience

We advise clients across a wide range of industry sectors and have particular strength in energy, financial services, healthcare, hospitality and leisure, real estate, retail, sports, technology and transportation.

Some significant restructuring matters we have recently worked on include:

  • Bank of Moscow - Advising on the acquisition of various distressed assets with a value of up to US$ 750 million, including secured and unsecured loans to Russian borrowers. This is a great example of our ability to continue to assist major lenders throughout the economic downturn.
  • Commerzbank - Advising on the restructuring of a portfolio of distressed loans advanced to a Russian leasing company and the transfer of the loans, along with the underlying assets and security package, to another Russian leasing company. This assignment involved multilingual advice and support from a number of other DLA Piper offices around the world.
  • Standard Bank - Advising on the restructuring of our client's equity and debt exposure to a large pharmaceuticals group. We advised on a new loan to the group, guaranteed by some group members and secured with a pledge over shares in key group members.