Skadden advised New Fortress Energy Inc. (NFE) on the successful completion of its restructuring through a consensual U.K. Restructuring Plan between its subsidiaries and certain of their creditors.
The Restructuring Plan was approved by the English High Court in June 2026, and recognition of the Restructuring Plan was confirmed by the U.S. Bankruptcy Court for the Southern District of New York later that month.
As a result of the completion of the transaction, NFE’s Brazilian business and operations have been separated to establish two distinct, standalone enterprises.
The transaction provided for the extinguishment of approximately $5.7 billion of third-party debt, with plan creditors receiving a combination of debt and preferred equity and 65% of the common equity of the NFE (with existing stockholders retaining the other 35% of NFE), and 100% of the equity NFE’s Brazilian enterprise.
The Skadden team included Michael Schwartz, Ron Meisler, Peter Newman, Nicole Stephansen and Christopher Dressel.