The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
White & Case has scored a lead role advising the Kazakhstan government on the creation of new restructuring laws in the country.
London-based European capital markets co-head Francis Fitzherbert-Brockholes led the advice to the Kazakhstan government.
The mandate was awarded after the US firm won a role advising UBS on the restructuring of Kazakhstan’s BTA Bank earlier this year. The firm also advised Goldman Sachs on the restructuring of Kazakhstan financial institution Alliance Bank.
Fizherbert-Brockholes said: “The absence of internationally recognised restructuring laws made these deals very challenging.
“We presented our proposals to the prime minister of Kazakhstan and the regulation has now been created.
“Being internationally recognised is very important when you’re working on restructurings that have an impact across the world.”
Until now any restructuring in Kazakhstan could not be completed without full consent from all of the company’s creditors. One creditor could block a restructuring even if it was backed by the majority.
Under the new law, developed by White & Case, restructurings can be completed under majority consent of creditors.