The restructuring was implemented with the total support of its first lien and second lien lenders (for approximately EUR 2 billion combined) as well as the existing shareholders.

Having already been restructured pursuant to a Scheme of Arrangement in 2020, Flint Group is currently owned by Goldman Sachs and Koch Equity Development.

Prior to the restructuring becoming effective, we advised Flint Group on the possibility to urgently obtain additional liquidity through a EUR 40m bridge facility in order to be able to continue to make payments until the restructuring is completed.

We guided and supported Flint throughout this restructuring on all Luxembourg and Dutch aspects of the debt restructuring including the recognition of the UK Scheme of Arrangement in Luxembourg, advice on Luxembourg and Dutch insolvency laws as well as guidance of managers’ duties in distressed situations.