Restructuring & Insolvency
Since 2011 and the deepening of the Greek economic crisis, Kelemenis & Co. has developed a fully-fledged restructuring & insolvency team to deal with the increasing number of mandates relating companies in financial distress and/or in need of corporate and financial restructuring. The team deals with both bankruptcy and pre-bankruptcy procedures and can display a strong track record in regulatory, transactional and litigation matters. Our work covers a wide range of areas that involve:
- Corporate finance restructurings and reorganisations;
- Insolvency filing requirements and formal insolvency proceedings;
- Insolvency litigation;
- Distressed financing and reschedulings;
- Distressed acquisitions/sales;
- Out-of-court restructurings and refinancings;
- Debt restructuring and rescheduling;
- Distressed M&A activity; and
- Debtor advisory work.
The firm serves a broad range of clients, including lenders, borrowers, debtors, creditors, equity holders and asset purchasers.
Recent highlights include acting for:
- Colliers, the leading firm in global real estate, on all available options under Greek law for the restructuring of its Greek subsidiary.
- Shelman – the largest wood producer in Greece with production and commercial activities in Greece, Europe, the USA and Africa – in its restructuring and streamlining its various production and commercial entities.
- UK law firm Michelmores on corporate debt acquisition from major Greek banks.
- UK law firm Ashurst on the insolvency of a Greek borrower and the available options under Greek law.
- Italian shoes manufacturer Geox on a major claim against a Greek client under pre-bankruptcy procedures that are equivalent to the American chapter 11 proceedings.
Chevron, Colliers, Greek Public Gas Corporation (DEPA), Geox, Kleva Pharmaceuticals SA, Shelman, Alpha Bank, General Union Insurance Company, Reynolds Porter Chamberlain, Michelmores, Ashurst.
Kelemenis & Co. has had a busy year representing its largely international client base in a range of instructions, most notably capital markets and restructuring matters. It advised Baring Private Equity Asia on the acquisition of equity and debt participations of a number of Greek-listed companies. The team also assisted Chevron with its restructuring programme.