Two Sidley Restructuring Deals Recognized in Turnarounds & Workouts’ “Successful Restructurings of 2022”

Two restructuring deals that Sidley advised on have been recognized by Turnarounds & Workouts in its special report on the “Successful Restructurings of 2022.” Sidley’s role as counsel to the debtor on Modern Land (China) Co. Limited’s restructuring and RiseSun Real Estate Development Co. Limited’s restructuring were highlighted. The annual list “tells the stories where corporate restructuring professionals worked together in the past year to restructure businesses, continue business operations, save jobs, and pay creditors.”

The special report noted Sidley partners Mark Knight, Jifree Cader, Anthony R. Grossi, Alex R. Rovira, Carrie Li, Gordon Davidson, and Raymond Oh for their role on Modern Land’s restructuring of US$1.34 billion in offshore dollar-denominated notes. Additionally, Jifree Cader, Renee Xiong, Anthony R. Grossi, Mark Knight, and Gordon Davidson were featured for their role on RiseSun Real Estate Development’s complex restructuring of US$780 million in offshore debt through a scheme of arrangement in the British Virgin Islands, with parallel Chapter 15 recognition proceedings in the Southern District of New York.