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Combining the knowledge of local laws and cultures with a global reach is just one of the ways Baker & McKenzie separates itself from other firms. Our genuinely global perspective allows us to operate without boundaries around the world, in every jurisdiction that is important to your business.

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Representation of BayernLB and RZB in connection with the emergency ruling procedure and subsequent insolvency of a Dutch bank, advising a syndicate of European and Asian banks led by BayernLB in relation to a USD117.5 million syndicated loan with the insolvent bank as the borrower; a syndicate of European and Asian banks led by RZB in relation to a USD80 million syndicated loan with the insolvent bank as the borrower; and RZB in relation to certain guarantee facilities and repo arrangements with the insolvent bank.
Advising Deutsche Bank AG, Hong Kong Branch in the business reorganization of TPI Polene PCL with respect to the purchase of a secured creditor’s debt, assignment of underlying loans to the debtor, and the transfer of a collateral package including bank guarantees and personal guarantees. Services also included preparing transaction documents subject to the laws of Thailand, Germany and England, as well as advising on the Master Restructuring Agreement and the Reorganization Plan, and issues/approaches regarding refinancing, extension of the plan, and enforcement of payment, both pre- and post-termination of the plan.
Advised financial sponsor EQT in relation to the proposal to restructure the debt of Sanitec, the Nordic bathroom products manufacturer. The structure involves the senior lenders accelerating and enforcing their share pledge and selling the shares in Sanitec to a Newco owned by EQT. This deal, with its highly innovative structuring, has triggered the first leveraged credit default swap credit auction in Europe.
Acted for the lead bank and Steering Committee in the restructuring of EganaGoldpfeil (manufacturer and distributor of luxury goods and owners of various well-known marks, like Pierre Cardin and Comtesse) between August 2007 and December 2008. The Egana group has a bank debt of about USD500 million and 80 subsidiaries across Asia, Europe and the US. Our offices are involved wherever we have an office, in 11 of those jurisdictions.
Represented Mecalux, a Spanish strategic buyer, in the purchase of the assets of Interlake Corporation in a Chapter 11 case in the District of Delaware in March 2009 for USD30 million. The transaction, thoroughly described in a recent issue of The Deal, was originally structured as an option to purchase the equity of Interlake for USD270 million.
Acting for the Senior Creditors' Committee in relation to the proposed restructuring of the financial debt of a Reykjavik savings bank subsequently taken into state control. The matter involved complex political and regulatory issues and involved extensive discussions with the debtor banks, the local financial regulator central bank and finance ministry. Currently, a number of different options are being explored with a view to maximizing recoveries for the creditors comprising over 40 institutions from Europe and beyond.
Counsel to Southwest Airlines Co. in its strategic acquisitions from ATA Airlines, Inc. in two Chapter 11 cases. The first resulted in the acquisition of gates at Chicago’s Midway Airport sufficient to allow the client a “blocking position” on the USD2.4 billion privatization of that airport (the first major airport privatization in the US) plus a codeshare agreement. The second allowed the client to initiate service at New York’s LaGuardia Airport by the acquisition of takeoff and landing slots through a Chapter 11 plan.
Represented Pilgrim’s Pride Corporation in negotiation and documentation of its post-petition Chapter 11 debtor-in-possession financing.
Acting for the Australian subsidiaries of the Waterford Wedgwood/Royal Doulton group in the sale of three of those entities to KPS Capital Partners. The sale was completed as part of a global sale of the troubled Waterford Wedgwood group, which was in administration in the UK and Ireland.
Advised a major European logistics group in a final-round auction bid for the business of the German mail services provider PIN Group. PIN Group was one of the first privately-held mail services provider that entered the German market in competition to former monopolist Deutsche Post. PIN Group lost a political battle with Deutsche Post about minimum wages, which finally drew it into insolvency. The fragmentized business of PIN Group became subject to numerous individual bankruptcy proceedings. The coordination of these proceedings and the valuation of the fragmentized business became a major challenge for both seller and bidders. Baker & McKenzie assisted the bidder in dealing with these challenges.


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