James Armshaw’s practice focuses on restructurings, special situations, liability management transactions, and insolvency matters.

He is experienced acting for key stakeholders including creditors, sponsors, corporates, and insolvency practitioners.

James joined the firm in 2023.

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Notable Experience

  • An ad hoc cross-holder group of secured bondholders of Azul S.A. (Azul), comprised of more than 20 leading financial institutions and some of the largest U.S.-based hedge funds, in the in-court Chapter 11 prearranged capital solution and restructuring of Azul, which includes the equitization of all of the first-lien and second-lien debt of the company, approximately US$1.6 billion in debtor-in-possession (DIP) financing and a backstopped equity rights offering of US$650 million.

  • Operadora Mega in its complex restructuring ca $1.3 billion of debt under USD and MXN bonds, international and local bank facilities.

  • An ad-hoc group of bondholders in relation to the restructuring of bonds issued by a Ukrainian electricity transmission system operator.

  • A secured lender to a luxury vehicle manufacturer in connection with a debt-to-equity conversion effected through a pre-pack administration.

  • An ad hoc group of noteholders of Vodafone Ukraine in relation to the restructuring of $500 million loan participation notes due February 2025.

  • Certain hedging counterparties in the cross-border restructuring of Atento Group, implemented through a UK restructuring plan

  • An ad hoc group of holders of structurally senior notes in the 2023 consent solicitation by Vedanta Resources Limited

  • A noteholder in connection with the administration of Petropavlovsk plc

  • A noteholder group in connection with the 2023 consent solicitation by National Joint Stock Company “Naftogaz of Ukraine” 

  • The Joint Bankruptcy Trustees of Amsterdam Trade Bank N.V. 

  • An ad hoc group of holders of notes issued by DTEK Renewables in connection with its restructuring

  • The largest shareholder of Nostrum Oil & Gas in connection with its restructuring

  • The administrators of Fintyre Group Limited

  • A senior bondholder group in connection with DTEK Energy’s restructuring in 2021 and consent solicitation in 2023

  • An ad hoc group of holders of notes issued by Intralot in connection with its restructuring

  • A prominent credit fund in the acquisition of a significant equity stake in Soteria Insurance Limited and the provision of loans in connection with such acquisition

  • A syndicate of senior secured lenders in connection with the restructuring of Stratum Energy Romania, LLC and its affiliates

  • A syndicate of term loan lenders in connection with the restructuring of Stoneway Capital Corporation and its affiliates

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Publications