Our firm acted as Greek counsel in connection with the landmark restructuring of Frigoglass group.

We are thrilled to have advised the ad-hoc group of noteholders of the 260 million senior secured notes due 2025 on all Greek law aspects of the landmark consensual recapitalization and restructuring of the ATHEX-listed Frigoglass S.A.I.C. and the group of companies formerly controlled by it (Frigoglass Group).

The restructuring is one of the largest and most complex transactions of its type relating to a Greek-based multinational group, which is a manufacturer of commercial refrigerators and a leading manufacturer of frozen packaging, with operations in Europe, the Middle East, Africa and Asia, and provides the new Frigoglass Group with improved liquidity, extended maturities and reduced cash interest costs to enable the group to continue its ordinary course operations and deliver on its business plan.

Our core team was led by Partner Anna Manda, assisted by Senior Counsel Nikos Askotiris and Senior Associate Olga Vinieri. Partner Alexandra Kondyli and Senior Associate Maria Chronaki handled all capital markets’ matters, Partner Vassiliki Salaka and Senior Associate Ilia Polyzoidi handled all insolvency and litigation matters, Partner Angeliki Tsatsi and Trainee Pinelopi Anyfanti handled all employment law matters. Senior Associates Eleonora Ligoutsikou (Tax) and Alexandros Anagnostopoulos (Real Estate), Associates Dimitra Karampela (IP and GDPR) and Matina Xirogianni (Corporate) and Trainee Katerina Stathakarou (Tax) were also involved in the transaction.