Restructuring/Insolvency

We represent creditors, some of which are banks, hedge funds or other financial institutions, in large national and international insolvency and restructuring proceedings.

We can handle complex cross-border constellations and proceedings and canrely on an extensive network of leading experts in other major jurisdictions. We maintain active ties to liquidators and bankruptcy administrators.

Our team is advising the bondholders (i.e. Deutsche Bank Trust Company Americas as the Security Agent and Wilmington Trust National Association as the Indenture Trustee under the bond documentation) vis-à-vis the insolvent Petroplus group; the two most relevant Petroplus group entities with the most assets are thus located in Switzerland.

Prager Dreifuss Ltd. has also been working on the bankruptcy cases of Lehman Brothers and Swissair group entities. We were involved in litigation emanating from agreements to finance or hedge assets of the debtor. Further, we have been involved in claims contesting the schedule of claims amounting to several hundred million dollars due to terminated and failed syndicated loans and over-the-counter derivatives contracts based on ISDA Master Agreements.

This year, the Prager Dreifuss team has further been involved in the restructuring of Gategroup.

Furthermore, the Prager Dreifuss insolvency and restructuring team is advising clients on arbitration proceedings and, in particular, world wide enforcement strategies of such arbitration awards rendered.