Jonathan Akinluyi is experienced in representing clients in cross-border restructurings implemented out of court or through the use of restructuring and insolvency proceedings in various jurisdictions, including English schemes of arrangement and U.S. Chapter 11 plans of reorganisation.
His recent experience includes advising:
- Danaos Corporation in its debt refinancing, which reduced its US$2.2 billion of outstanding debt by US$551 million. This matter was named Large Company Turnaround of the Year at the 2019 Turnaround Management Association Awards and team was awarded Transatlantic Restructuring Team of the Year at the 2019 Transatlantic Legal Awards;
- Brunswick Rail Limited in connection with the restructuring of the US$600 million 6.50% guaranteed notes due 2017, issued by one of its subsidiaries through a consent solicitation process;
- Stephen Taylor, the conflicts administrator of Nortel Networks S.A. in relation to Nortel Networks S.A.’s entitlement to a portion of the US$7.3 billion sale proceeds held in escrow on behalf of the U.S., Canadian and EMEA Nortel Network estates following the group’s bankruptcy sale, and the settlement of the claims of Nortel Networks S.A.’s creditors through its English law administration and CVA proceedings;
- SunEdison, Inc., a leading renewable energy business, in connection with its Chapter 11 filing and international reorganisation;
- Roust Trading Limited in a US$550 million restructuring involving the exchange of two series of loan participation notes issued by Russian Standard Finance S.A., which were used to fund related loans to Russian Standard Bank, an indirect subsidiary of Roust Trading Limited, in favour of new notes issued by a new subsidiary; and
- TORM A/S, a shipping company in Denmark, in its US$1.4 billion financial restructuring via a scheme of arrangement.
Mr. Akinluyi is a member of the Insolvency Lawyers’ Association and a member of R3.