Our Restructuring and Insolvency Capabilities

Our Restructuring and Insolvency Capabilities

We are one of the very few law firms able to deal not only with assistance in litigation and insolvency proceedings, but also with complex restructurings and business acquisitions of assets/companies in insolvency. Due to the specificities of our files, we closely work with the other departments of the firm such as banking & finance, M & A, litigation and state aid, a valuable asset in these types of mandates. Our team has an outstanding ability to carry out extensive negotiations of restructuring agreements, including multi- party standstill agreements for the restructuring of very complex bank financings, and provide assistance in formal pre-insolvency proceedings, such as composition agreements.

“Bondoc si Asociatii SCA is no stranger to complex restructurings and insolvency proceedings, offering clients a strong arsenal of contentious and non-contentious expertise. The corporate team often handles group reorganisations and distressed asset sales, and the firm as a whole has good experience of heavily-regulated sectors such as pharmaceuticals, aviation, energy and utilities”. [Legal 500, 2021]

Our team has been involved in a large number of significant restructuring and insolvency transactions/litigation cases, which included assistance to:

■	a Romanian company active in the mining business in connection with the acquisition of a mining business in insolvency and the financing of such acquisition and subsequent corporate restructuring process (de-merger, merger, transfer of shares agreement etc.).
■	one of the most important Romanian chemical producers undergoing insolvency proceedings in connection with the sale of its assets subject to various legal and regulatory constraints including from a European State aid perspective, the sale being conducted so as to achieve economic discontinuity.
■	the largest bank in Ukraine, in the insolvency proceedings of a Romanian based company acting in the automotive industry, for the enforcement of security interests obtained by the bank for the financing provided to former group companies and related challenges and cancellation actions.
■	a private equity investment fund in connection with the contemplated acquisition of soft beverages business from a Romanian company undergoing insolvency proceedings.
■	an American aircraft financier in connection with the preventive composition procedure of the most important Romanian private airline.
■	an utilities supplier in connection with the insolvency and restructuring of the companies managing the centralized heating system of Bucharest.
■	several pharmaceutical producers in the insolvency of a former major pharma distributor.
■	various pharmaceutical producers in connection with the pre-insolvency negotiations of ADM Farm.
■	a Swiss-based group in connection with the complex acquisition of the business in insolvency of one of the largest Romanian food oil producers.
■	a private equity fund in connection with the acquisition structuring and financing of the business from an insolvent precast concrete company.

■	an important Norwegian bank acting as arranger, lender and facility and security agent in connection with the restructuring/refinancing of the debt of an international group with subsidiaries in Romania acting in the metal manufacturing industry.
■	a German regional bank in connection with various legal assessments related to the financier’s risks of liability in the context of financing companies in difficulty.
■	a major international bank in connection with the restructuring of a large portfolio of real estate investments.
■	a major Romanian investment fund consisting in the examination of various legal, regulatory and commercial aspects of an intended restructuring of its claims against a Romanian company operating in the hospitality industry under a major international brand.
■	the Romanian subsidiary of a regional banking group in connection with the contemplated restructuring of a bad loans portfolio.
■	various aircraft owners in aircraft recovery trials related to the insolvency of a major Romanian low-cost airline.
■	various producers in the pharma industry in connection with the preventive composition procedure affecting some of their contracting parties.
■	an international aircraft lessor in the recovery of an aircraft leased to a Romanian company entering insolvency.
■	a major international financial institution in its assessment of cross-border insolvency risks posed by a prospective multi-hundred million Euro multijurisdictional financing of a major, US-based multi-national automobile manufacturing conglomerate.
■	several banks in connection with the contemplated restructuring of certain bad debt portfolios.
■	a corporate group owned by a Swiss company active in agribusiness in connection with the negotiation of a standstill agreement with more than 7 credit institutions.
■	the fourth largest bank in Turkey, in the insolvency proceedings of a Romanian company for the recovery of a multi-million receivable.