Restructuring of Roust Group
On February 17, 2017, the prepackaged plan of reorganization of Roust Corporation which was previously approved by a New York court under Chapter 11 of the US Bankruptcy Code has become effective. The transaction will strengthen Roust Corporation's capitalization by over USD 500 million and deleverage its balance sheet. The transaction has resulted in the reduction of Roust Corporation's existing debt by approximately USD 462 million, plus funding of USD 55 million in new equity capital and the contribution of strategic assets.
Lenz & Staehelin advised Roust Corporation and its subsidiaries in all matters of Swiss law related to this transaction. The team was led by partner Roland Fischer and included associates Anja Affolter Marino and Nathalie Wirch (all Insolvency & Restructuring).