Karl J. Clowry. London. Practice Areas. Admissions. Education. Partner, Corporate Department

Transcription

1 Karl J. Clowry Partner, Corporate Department Karl Clowry is a partner in the Finance and Restructuring practice of Paul Hastings and is based in the firm s London office. Mr. Clowry focuses his practice on debt financing, restructuring, insolvency, and corporate refinancing, representing corporate borrowers and issuers, lenders, special situation investment groups, bondholders, debt investors, financial sponsors, loan servicers, and insolvency practitioners. He concentrates on large cross-border transactions, usually involving complex capital structured financings. Recent Representations The Co-operative Bank p.l.c., the Ad Hoc Committee of Tier 2 Noteholders 700 million recapitalization and restructuring via schemes of arrangement Privatbank advising Madison Pacific Trust as note trustee Petroceltic International plc on the innovative hostile examinership-led acquisition by Worldview Capital Management Etihad Airline Partners on its debut $1.2 billion platform financing program for seven airlines and related service companies and on the subsequent insolvency issues in relation to Air Berlin and Alitalia Monte dei Paschi di Siena: acted for the ad hoc committee of bondholders on the bank s LME under the BRRD regime Neo Solar Power Corporation: UK solar power projects and financing Wilmington Trust: as security agent, calculation agent, and note registrar on a US$ 160 million mezzanine private note placement for a satellite financing Gulf Keystone Petroleum: represented the company on the restructuring (via a scheme of arrangement) of its $250 million Guaranteed Notes due 2017 Advised on banking and intercreditor issues on many HY/LevFin transactions, including Delphi, Petra Diamonds, Novacap, Vale, Afren, Gulf Keystone Petroleum, Monarch Air, Nido, CHC Helicopters, Mirion, Patheon, Reichhold, and PCI Logistics Zurich as Co-Chair of the Creditors Committee to the Government of Belize on London T: F: Practice Areas Leveraged Finance Technology Finance Restructuring Alternative Lender and Private Credit Corporate Financial Services Litigation Admissions England and Wales Solicitor Education University of London, LL.M., 1995 Trinity College Dublin, the University of Dublin,, 1989

2 its sovereign debt restructuring Mitsui Ocean Development Engineering on its Ghanaian Jubilee oilfield US$1 billion FPSO development and related matters with its JV partners Tullow Oil, Kosmos, and Anadarko Capita Asset Services: as Servicer of loans to the Theatre Hospital Group, owner of hospitals operated by BMI, and a number of other borrowers such as Fleet Street 2, a large German retail portfolio Breeze 3: Class A noteholder committee, including Accunia, Alchemy, and Capital Four on the restructuring of a 450 million securitisation of wind farms in France and Germany Starwood Capital: on a 230 million distressed acquisition from NAMA, via CVAs, of 4 extended-stay hotels and associated residential properties Committee of Hybrid Noteholders in the $3.3 billion debt restructuring of IVG Immoblien AG EIG Global Energy Partners on the restructuring of Breeze IV, a wind-farm financing, and on the Dutch insolvency of 4Gas. Davidson Kempner on various European distressed investments and restructurings, including Visiocorp plc and Seat Pagine Global Partnership Fund LP: represented the BVI liquidators on the sale of Garrard's jewellery brands English law aspects of Chapter 11 proceedings of Polaroid Inc. and Contech LLC Education and Media Publishing Group (Houghton Mifflin Harcourt) on its $7 billion restructuring Lehman Brothers Holdings Inc. during its bankruptcy on realising and restructuring various of its European investments and assets Advised senior lenders in the Four Seasons Healthcare 1.6 billion debt restructuring Advised the servicers Capita Asset Services and Situs (formerly Hatfield Philips) in connection with the restructurings of various CMBS transactions Roundhill Capital: on refinancing of its Nido Student Housing portfolio Snam in connection with its 12 billion EMTN Programme Acted on a number of real estate, auto, energy, and telecoms administrations, selling or buying assets out of administration or receivership with all of the larger European insolvency advisory firms: Deloitte, KPMG, Moelis, EY, PwC, and Alix Partners Advises RBC, Credit Suisse, Cantor Fitzgerald, BAML, Goldman Sachs and Wells Fargo on a variety of their European cross-border leverage and general financings Strategic Value Partners: on various distressed and opportunistic financings

3 and restructurings, including Quinn Group and Ferretti Yachts The Children's Investment Fund: on a debt investment in a large French hotel chain and a perpetual debt investment in Fortis Bank TPG Specialty Lending Inc.: financing of Kewill Ltd. Committee of bondholders, Basso, GLG, Lansdowne, JPM, and Alden as well as the replacement bond trustee Madison Pacific Trust Limited, in connection with the post-default repayment and recovery (via a Singapore scheme of arrangement and English litigation) of a $54 million convertible bond issued by Bilcare, a pharmaceutical services group UBS Securities LLC: on various cross-border sponsor-backed acquisition financings, involving bank and high yield debt UTi Worldwide Inc.: on the European aspects of its various financings Accolades and Recognitions Petroceltic International transaction shortlisted for "Finance Team of the Year Award" and GKP shortlisted for "restructuring Team of the Year" at The Lawyer Awards 2017 "Structured Finance & Securitisation Team of the Year" at the IFLR 2016 Europe Etihad's Equity Alliance fund platform shortlisted for "Structured Finance & Securitisation Deal of the Year" The Legal 500 cites the superb Karl Clowry as highly recommended providing clear and commercial advice, and does not sit on the fence ; his four-partner team delivers excellent service at good value for money. IFR EMEA Emerging Bond Award 2015 for Etihad transaction and Restructuring Deals of the Year Awards for Schefenacker and SAUR. Speaking Engagements and Publications Regular speaker at restructuring, insolvency, and banking conferences Contributes to various banking and restructuring publications Author of the Debt for Equity Swaps chapter in the book Workouts and Restructurings Author of the article Debt-to-Equity Conversion in the UK and Europe in the leading legal journal European Company Law Professional and Community Involvement Qualified as a Barrister, Inner Temple, (1994) and also admitted as a Solicitor (1998) Associate Member of R3, the UK s leading association of business recovery professionals

4 Education University of London, LL.M., 1995 Trinity College Dublin, B.A. (First Class), 1989 News June 28, Million Capital Raising Plan for Co-operative Bank June 01, 2016 $500 Million Notes Offering from Etihad s Equity Alliance Partners September 28, 2015 Innovative Debut Notes Platform From Etihad s Equity Alliance Partners May 13, 2015 Paul Hastings Advises on High-Yield Bond for Petra Diamonds November 18, 2014 Paul Hastings Advises on 200 Million High-Yield Bond for Waste Italia July 29, 2013 Paul Hastings Advises Attestor Capital in Restructuring of SAUR February 08, 2012 Paul Hastings Represents Wells Fargo on UK Loan Portfolio Aspects of Burdale Acquisition February 26, 2010 First European CMBS Deal to be Extended Insights June 24, 2016 UK Votes for Brexit Key Considerations for International Businesses

5 June 29, 2015 New EU Regulation on Insolvency Proceedings May 20, 2014 European Credit Documentation Trends: Covenant-lite or Covenant Empty? April 25, 2014 APCOA Parking: Can the Amendment of Governing Law Provisions in Finance Documentation Provide a Global Gateway to U.K. Schemes of Arrangement? April 02, 2012 This Trend May Not Be Your Friend: Could Catalyst Paper Spawn a New Breed of Chapter 15 Cases for U.S. Debtors? March 08, 2011 UPDATE: The Insolvency Point of No Return for Securitisation Issuers August 09, 2010 New Guidance from the English Courts on the Solvency of Securitisation Issuers May 04, 2010 Investment Opportunities Arising Out of Irelands Recently Established Bad Bank Scheme