Sidley Deal “Highly Commended” at LexisNexis Legal Awards 2024

Sidley was “Highly Commended” in the “Deal of the Year” category at the LexisNexis Legal Awards 2024. The annual awards “celebrate excellence and innovation across the legal sector.” The firm was recognized for its representation of China Fortune Land Development Co., Ltd. in the restructuring of its US$4.96 billion offshore debt by way of English scheme of arrangement. 

This landmark deal is the first English scheme of arrangement of a Chinese real estate business in the current wave of companies in the sector seeking large-scale debt restructurings of offshore liabilities. China Fortune was also the first of such companies to have successfully implemented a restructuring with a debt-for-equity element, creating an important blueprint for similar companies to follow in more recent restructurings.