O'Melveny's Asia Restructuring Practice Wins Deal of the Year Award from India Business Journal

1월 31, 2013
FOR IMMEDIATE RELEASE

Contact:
Julie Fei
O’Melveny & Myers LLP
213.430.7792 (office)
213.440.7792 (cell)
jfei@omm.com

LOS ANGELES ─ January 31, 2013 ─ O’Melveny & Myers LLP’s Asia Restructuring Team kick-started the year by garnering several key awards and deal nominations from India Business Law Journal (IBLJ) and International Financial Law Review (IFLR).

In 2012, the team represented a major international financial institution as arranger in connection with the restructuring of US$365 million fully convertible debentures issued by the Lodha Group, a leading Indian real estate group. The facility was one of the largest-ever foreign investments in the Indian real estate market and the transaction was selected by IBLJ as “Restructuring Deal of the Year 2012.”

The O'Melveny team was led by Hong Kong counsel Damien Coles and Singapore counsel Pooja Sinha, and also involved Singapore partner Bertie Mehigan.

The team also is nominated for the prestigious “Restructuring Team of the Year” award at IFLR’s 2013 Asia Awards and involved in two deals that are shortlisted in the Restructuring Deal of the Year category.

O’Melveny represented Royal Chemie Corporation Limited (RC) as white knight investor in connection with the restructuring of Continental Chemicals Corporation Pte. Ltd. (CCCPL). This was a high-profile restructuring, which involved about US$450 million in liabilities and took more than two years to complete. It involved two Singapore schemes of arrangement, concurrent litigation with respect to winding up proceedings and the corporate reconstruction, and merger of CCCPL with RC. The transaction also had a strong cross-border element, involving entities incorporated in Singapore, Bermuda, Seychelles, Indonesia, Thailand, China, and BVI.

The O'Melveny team included Singapore partner Bertie Mehigan and counsel Timothy Tan.

O’Melveny represented the ad hoc bondholder committee in connection with the restructuring of the US$160 million bonds issued by Arpeni Pratama Ocean Line Investment BV and guaranteed by PT Arpeni Pratama Ocean Line Tbk., a listed Indonesian shipping company. The transaction was extremely innovative for a number of reasons. In particular, it was the first occasion on which a composition plan implemented through Indonesian suspension of payments proceedings has been recognized and given effect under Chapter 15 of the US Bankruptcy Code.

The O'Melveny team was led by Coles, and also involved Mehigan and Hong Kong partner Mark Fairbairn.

The winners of IFLR's Asia Awards will be announced at a ceremony on February 28, 2013, in Hong Kong.

About O’Melveny & Myers LLP
With approximately 800 lawyers in 16 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com