Overview
Mark Fine, a partner at law firm McDermott Will & Emery, said:
“The High Court’s sanctioning of the China Fishery restructuring plan continues to show what an effective tool it is and highlights its ability to be utilized in a cross-border restructuring alongside other insolvency regimes in order to deal with multi-jurisdictional liabilities. Importantly, it also re-emphasizes the fact that minority creditors looking for hold-out value and holding capital structures to ransom for lengthy periods of time are likely to fall short of their goals.”
