We are pleased to announce that NautaDutilh has been awarded IFLR Americas "Restructuring Deal of the Year" for our work with McDermott International, alongside US Counsel Kirkland & Ellis. Our team was led by Elizabeth van Schilfgaarde, Managing Partner and Head of the Finance Transactions Practice in New York, and Rebecca Pinto, Corporate Partner, also in New York. Counsel, Janneke de Goeij, was instrumental in leading the associate team.
NautaDutilh served as Dutch and Curacao counsel to McDermott on three refinancings from January to December of 2020. The restructuring was complex and required completion in a relatively short timeframe, further complicated by challenges of the pandemic. Our work on the restructuring involved multiple secured facilities for each financing, numerous subsidiaries, and a simultaneous corporate restructuring. It included a DIP financing of $2.81 Billion, Exit Financing of $2.944 Billion, and New Capital in the amount of $390 Million.
“Our long-standing relationships with both McDermott International and Kirkland & Ellis were contributing factors to how successful our teams were in working together”, said Van Schilfgaarde, “restructuring work has been a focus this past year and the expertise of our restructuring team has been invaluable in this regard.”
NautaDutilh is honored to be included in this prestigious recognition by IFLR Americas, and alongside such a world class team of lawyers and professionals.