Latham & Watkins has advised DTEK Energy on the restructuring of over USD 2 billion of its bank and bond indebtedness pursuant to two inter-conditional schemes of arrangement. Hogan Lovells and Asters advised an unidentified group of ad hoc lenders on the matter.
According to Latham & Watkins, the schemes were sanctioned on May 13, 2021 and the restructuring was completed on May 17, 2021. “Under the terms of the restructuring, restructured note-holders received new notes issued by DTEK Finance plc and NGD Holdings B.V. and bank lenders received DFPLC Notes in exchange for the release and cancelation of their restructured indebtedness. Application was also made for Chapter 15 recognition of the schemes in New York.”
Latham’s team was led by London-based Partner John Houghton and Moscow-based Counsel Edward Kempson, with London-based Associates Husni Almousli, Tom Davies, and Hafza Hussein, and Moscow-based Associates Seb Tuohy, Alexander Kartyshev, Ksenia Koroleva, Alexandra Samsonova, and Ivan Alaev. The Chapter 15 application was led by New York-based Partner Adam Goldberg and included Associate Jeramy Webb.
Asters’ team included Partners Iryna Pokanay, Yaroslav Petrov, Oleksiy Demyanenko, Igor Svechkar, and Markiyan Kliuchkovskyi, Counsels Gabriel Aslanian and Dmytro Shemelin, Senior Associate Marta Halabala, and Associates Inna Bondarenko and Viktoria Zagreba.
Hogan Lovells’ team included, in London, Partners Alex Kay and Philip Harle, Counsel Aaron Burchell, Senior Associate Celine Buttanshaw, Associates Jonny Morris and Ben Lewis, and Trainees India Maddison and Chiraag Thadani; and in the Netherlands, Partners Wouter Jongen and Manon Cordewener, Counsels Dylan Goedegebuure and Alexander Fortuin, Senior Tax Advisor Matthijs Dols, and Associate Yvette Voermans.
Editor's note: After this article was published, Avellum informed CEE Legal Matters that it advised DTEK on Ukrainian legal matters related go the restructuring. The firm's team included Senior Partner Glib Bondar, Senior Associate Anastasiya Voronova, and Associate Anna Mykhalova.