On April 19, S&C was awarded “Restructuring Deal of the Year” at the 2018 IFLR Europe Awards for its representation of the Coordinating Committee of Bank Creditors on the global restructuring of Abengoa, a company headquartered in Spain and specializing in the development and deployment of new technologies such as renewable power, transmission and desalination. Prior to the restructuring, the group had consolidated financial and trade debt of more than €20 billion. The deal involved S&C advising on a €20 billion restructuring deal Abengoa struck with its creditors and implementation procedures across 80 countries including a U.K. CVA, a U.S. Chapter 11 and a Spanish homologación, all of which are inter-connected. The triumph follows S&C’s previous win at the IFT Awards in 2017, where S&C won the award for “Legal Adviser of the Year” for its role on the restructuring.
The awards ceremony was held at The Savoy Hotel in London. Chris Howard, Presley Warner, Samuel Saunders and Lester Su attended on behalf of the Firm.