Willkie was recognized for its representation of the steering committee of CGG’s high-yield bondholders in the restructuring of CGG, one of the largest restructurings in French history.
On April 4, Willkie was recognized at the IFLR Europe Awards 2019 in London in the category of “Restructuring Deal of the Year.” Willkie was recognized specifically for its representation of the steering committee of high-yield bondholders in the restructuring of CGG, one of the largest restructurings in French history. Additionally, the firm was shortlisted for its role in numerous transactions across multiple practice areas, including finance, M&A, private equity and restructuring.
The restructuring of CGG, a geosciences company that provides services to the oil and gas industry, included the first-ever successful coordination of a French sauvegarde proceeding with a U.S. chapter 11 bankruptcy case. CGG completed a multi-billion dollar restructuring on February 21, 2018. Read Willkie’s March 2, 2018 announcement.
A cross-border team of Willkie attorneys led by Lionel Spizzichino advised the Steering Committee of CGG’s high-yield bondholders who, as a result of a debt-for-equity swap that was the centerpiece of the transaction were, upon completion of the deal, among the company’s largest equity holders. The multidisciplinary Willkie team was coordinated by partners Lionel Spizzichino and Gabriel Flandin in Paris, partners John Longmire and Leonard Klingbaum in New York, and partner Graham Lane and UK partner Iben Madsen in London with counsel Igor Kukhta and associates Thomas Doyen, Audrey Nelson and Batiste Saint-Guily in Paris, counsel Weston Eguchi and associates Julian Golay, Jason Pearl, Ransel Potter and Grace Aviles in New York, and associate Alexander Roy in London.
Willkie was shortlisted for its role in several other notable transactions, which included:
SGG Group/First Names Group acquisition financing (Loan)
NJJ Telecom-led consortium/Eir (M&A)
Apex Fund Services/Deutsche Bank’s Alternative Fund Services Business (Private equity)
Private equity investor consortium/HSH Nordbank (Private equity)
Asco Industries (Restructuring)
Danaos Corporation (Restructuring)
The firm was also shortlisted for US Law Firm of the Year, and for Law Firm of the Year in the loan, private equity and restructuring categories.
The International Financial Law Review (IFLR) is a leading publisher for the financial legal community, with journalists based in the U.S., UK and Asia.