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Deals
Maples Drives Largest Ever Cayman Islands Cross Border Restructuring
19 Oct 2017
Maples and Calder advised Ocean Rig UDW and three of its subsidiaries in relation to the complex, cutting edge and successful restructuring of US$3.7 billion of financial indebtedness. Among other innovations, the restructuring involved the first ever Cayman Islands schemes of arrangement of foreign incorporated companies and the first use of a Cayman Islands STAR trust in a restructuring.
Maples and Calder advised on all Cayman Islands and Irish law aspects of the restructuring. The Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas, Grace Boos and Amanda Lazier. Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partner Suzanne Correy and Associate Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond.
Accounting support services were provided by MaplesFS to a Cayman Islands subsidiary specifically incorporated by Maples and Calder for purposes connected to the restructuring.
"We are pleased to have played the leading role in this monumental and ground-breaking Cayman Islands restructuring. The complex cross border nature of the deal highlights the unparalleled strength and expertise of our global team and the seamless legal and support services we can provide our clients," commented Partner and global head of Maples and Calder's Litigation and Insolvency practice Aristos Galatopoulos.
Further details on the decision can be found here.
Maples and Calder advised on all Cayman Islands and Irish law aspects of the restructuring. The Cayman Islands team was led by Partners Caroline Moran, Sherice Arman and Of Counsel Nick Herrod, with Associates Christian La-Roda Thomas, Grace Boos and Amanda Lazier. Trusts advice was provided by Partner Ray Davern and Associate Alex Way, corporate advice by Partner Suzanne Correy and Associate Daniel Lee and Irish regulatory advice by Partner Nollaig Murphy and Associate Jacqueline Diamond.
Accounting support services were provided by MaplesFS to a Cayman Islands subsidiary specifically incorporated by Maples and Calder for purposes connected to the restructuring.
"We are pleased to have played the leading role in this monumental and ground-breaking Cayman Islands restructuring. The complex cross border nature of the deal highlights the unparalleled strength and expertise of our global team and the seamless legal and support services we can provide our clients," commented Partner and global head of Maples and Calder's Litigation and Insolvency practice Aristos Galatopoulos.
Further details on the decision can be found here.
Related Services
Dispute Resolution & Insolvency
Advising on the laws of the BVI, the Cayman Islands and Ireland, our global Dispute Resolution & Insolvency team provides expert legal advice on cross-border litigation and contentious and non-contentious restructuring. We offer a broad range of dispute resolution and insolvency services, bringing an unrivalled depth of experience to each dispute and ensuring that you receive fast, accurate and pragmatic advice.
Corporate
Advising on the laws of the BVI, the Cayman Islands, Ireland, Jersey and Luxembourg, our global corporate team provides expert legal advice to corporate clients on all corporate commercial matters. Our clients include major banks, multinationals and institutional investment firms, leading law and accountancy firms and a number of state / government entities across all industry sectors.
Trusts & Private Client
Advising on the laws of the BVI and the Cayman Islands, our global team of Trusts & Private Client lawyers advise some of the world's largest private businesses, individual private clients, institutional trustees and other fiduciary service providers on matters concerning all types of private wealth trusts, commercial trusts, estate planning structures, trusts and fiduciary arrangements and trust litigation.
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