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Creditors’ Rights and Business Restructuring Group Wins Two International Awards

On January 7, 2019 by Schnader in Aviation

Our Creditors’ Rights and Business Restructuring practice group won two international awards in 2018 for their work on the $4.5B global debt restructuring of PT Bumi Resources Tbk. Our team was recognized for the “Debt Market Deal of the Year” awarded by Thomson Reuters’ Asian Legal Business (ALB) at the SE Asia Law Awards 2018. We also won the “Finance Deal of the Year: Insolvency and Restructuring” awarded by ALM’s Asia Lawyer at the Asia Legal Awards 2018.

Kenneth R. PuhalaRichard A. Barkasy, and Daniel M. Pereira led Schnader’s work on this restructuring deal. In a Chapter 15 case in U.S. Bankruptcy Court, they successfully obtained recognition of an Indonesian court proceeding and an order implementing the Indonesian court-supervised restructuring plan of an Indonesian company.