LONDON - McDermott Will & Emery is acting for KAMCO (Korea Asset Management Corporation) on the proposed purchase and restructuring of Daewoo Group debt.
This will be one of the world’s largest debt restructurings, valued at US$5 billion. The debt is located in more than 50 jurisdictions. Almost 300 international banks are involved; and the debt purchase and restructuring would involve more than 125 Daewoo companies.
McDermott Will & Emery have established a team of lawyers, located in their London office, working with KAMCO and the financial advisers to the transaction to structure the purchase of debt, to carry out due diligence and to advise on the restructuring. Assistance is being provided by the firm’s other offices and selected law firms in relation to the overseas jurisdictions involved.
McDermott, Will & Emery’s team is drawn principally from their London and New York offices, with additional lawyers from their Chicago and Boston offices.