Dhevine Chandrapala

Recent examples of Dhevine’s work include representing:

• Shimao Group Holdings Limited on the restructuring of its offshore debt in the aggregate principal amount of approximately US$11.5 billion. The scheme of arrangements was sanctioned by the High Court of Hong Kong on March 13, 2025. The restructuring is being conducted in parallel with bilateral restructurings of certain other offshore debts outside of the scope of the scheme in the aggregate principal amount of approximately US$2 billion. This deal is one of the largest real estate restructuring transactions and was named as “Deal of the Year” by China Business Law Journal in 2024.
• Sino-Ocean Group Holding Limited on the successful restructuring of its approximately US$6 billion offshore debt. This landmark project is the first restructuring of a Chinese real estate group to be implemented under an English Restructuring Plan. The restructuring was implemented using a Part 26A RP in the United Kingdom and an interconditional and partially overlapping scheme of arrangement in Hong Kong.
• Coupang, Inc. in the completion of its acquisition of the business and assets of Farfetch Holdings plc via a pre-pack administration.
• H.I.G. Capital in respect of the restructuring of its portfolio, Cabonline Group Holding AB, the largest taxi network in the Nordics, which operates in Sweden, Norway and Finland, with respect to its financial indebtedness owed to a consortium of Nordic and international institutional investors.
• Adventure Success Limited, a subsidiary of Shimao Group Holdings Ltd., one of the largest Chinese real estate developers, on the successful closing of (i) senior loan facilities of HK$10.3 billion to replace its original syndicated project loan facilities and (ii) junior loan facilities of approximately HK$1.1 billion and Hong Kong dollars equivalent to approximately US$77 million to replace certain existing loans borrowed by other members of the Shimao group, both provided by United Overseas Bank Limited (as arranger).
• Recharge Industries, a portfolio company of Scale Facilitation, on its acquisition of certain assets of Britishvolt out of administration.
• The Learning Network, a leading educational services provider in the Netherlands and Belgium, on the completion of its sale to Dutch investment company, Intersaction and its associated restructuring.
• Global Loan Agency Services on:
  • the restructuring of Nynas AB, a Sweden based oil refinery business;
  • the restructuring and refinancing of Royal IHC;
  • on the restructuring of BARTEC, a German manufacturer of explosion safety equipment;
  • the sale of Young’s Seafood Limited, one of the UK’s leading producers and distributors of seafood, to Karro Food Group.
• ACPS Automotive, a technology and market leader in towbars/hitches for cars, SUVs, and vans, on the completion of its financial restructuring.
• Travelex on its financial and operational restructuring.
• A key creditor in relation to the insolvency of British Steel.
• The financial advisor and key creditors in relation to the financial restructuring of Nyrstar NV. 
• RDL Realisation plc, a premium-listed investment fund, on its proposals to accelerate the repayment of the Zero Dividend Preference Shares issued by its subsidiary, RDLZ Realisation plc (RDLZ).  
• Famar on the successful restructuring, recapitalization, and strengthening of its capital structure. 
• Wentworth in relation to the Waterfall II Application, which concerns various issues relating to the distribution of the surplus in the LBIE estate.
• The Harkand Group, an Oaktree Capital subsea global services group to the oil and gas industry, in relation to its financial and operational restructuring.

*Some of the above matters were handled by Dhevine prior to joining Sidley.