A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Paul Weiss Advises Lenders in Boart Recapitalization and Redomiciliation Transactions
- Client News
- October 5, 2021
Practices
Paul, Weiss advised an ad hoc group of holders of secured and unsecured funded debt in the successful restructuring of Boart Longyear Limited, a world-leading provider of drilling services, orebody-data-collection technology, and innovative, safe and productivity-driven drilling equipment. Boart’s completed recapitalization transaction reduced approximately $795 million of the company’s debt through two Australian court-approved schemes of arrangement, which were recognized in companion Chapter 15 proceedings by the U.S. Bankruptcy Court for the Southern District of New York as a foreign main proceeding on September 21, 2021. Boart also completed a redomiciliation transaction on October 5 that moves its corporate and tax domicile from Australia to Canada.
The Paul, Weiss team included, among others, restructuring partners Andrew Rosenberg and Elizabeth McColm; antitrust counsel Marta Kelly; and international trade counsel Richard Elliott.