Ogier’s work on the successful restructuring of Mongolian Mining Corporation has been recognised after the deal was named Restructuring Deal of the Year at the IFLR Asian Awards 2018 last night.
The award is the second time in less than five months that Ogier has been recognised by IFLR for restructuring work – in October, the Adeem restructuring, on which an Ogier team led by partner Bruce MacNeil advised, won the Restructuring Deal of the Year at IFLR’s Middle East Award.
Ogier’s Hong Kong-based partners Oliver Payne and Anthony Oakes, supported by Cayman-based managing associate William Jones, advised on the Cayman law aspects of the matter.
Mongolian Mining Corporation is a Cayman incorporated, Hong Kong Stock Exchange listed, coking coal producer and exporter operating in Mongolia, and the deal involved restructuring US$760 million in offshore domiciled debt.
The restructuring was effected by way of a Cayman Islands provisional liquidation of Mongolian Mining, and parallel schemes of arrangement under the laws of the Cayman Islands and Hong Kong.