Cross-Border Bankruptcy Recognized as Deal of the Year
May 5, 2015
The restructuring of Mirabela Nickel was named Asia-Pacific Deal of the Year by The Banker for 2015. Cleary Gottlieb has been representing an ad hoc group of bondholders representing the majority of Mirabela Nickel’s financial creditors and including major financial and investment institutions in North America and Europe in the restructuring and recently-completed recapitalization of Mirabela Nickel and its subsidiaries.
Mirabela Nickel’s restructuring is the first-ever cross-border restructuring between Australia and Brazil and first restructuring of an ASX-listed company through a “loan-to-own” process without shareholder approval.