Restructuring And Insolvency
The Veritas team has considerable experience of financial restructuring and insolvency matters across the region. We guide our clients through restructurings, preventative compositions, insolvencies, bankruptcies, voluntary and involuntary liquidations so that you have certainty over the outcome of the process. With both Saudi national qualified advocates and internationally renowned lawyers, we offer our clients a seamless one-stop shop for all restructuring and insolvency requirements. When working on these matters we draw on the expertise of lawyers from across the firm, including Finance, Litigation, M&A and Tax to provide turnkey solutions you are after.
Wherever we can, Veritas will provide strategic, proactive advice on restructuring to maximize value and achieve you the highest possible returns on investment.
Key Examples
- Advising one of the largest healthcare providers in the region on its restructuring, asset sale and insolvency options in a GCC Country, including the re-negotiation of an Islamic Facility Agreement and the settlement of court-based claims by secured and unsecured creditors on behalf of numerous hospitals, clinics, pharmacies and cosmetic treatment centres forming part of the group.
- Advising the largest mining group in Oman on the restructuring of its debts with numerous financial creditors into one consolidated long-term revolving credit facility agreement, to reduce interest payments and provide short-term working capital to fund operations.
- Advising a diversified high net worth family business on the restructuring of its Group companies, including the negotiation of a facility agreement into the superior Holding Company and the divestment of certain Group assets and distressed companies to save the business.
- Advising one of the largest airport food and beverage concessionaires in the world on the restructuring of its operations (including redundancy programmes) in the Middle East following the severe impact on business revenue encountered during the COVID Pandemic.
- Advising a premier airline on the solvent restructuring of its operations within a GCC country to avoid substantial losses and to continue trading.