Chris Horrocks

CHRIS HORROCKS has extensive experience driving solutions in domestic and multi-jurisdictional restructurings. Chris advises clients, including sponsors, debtors, creditors, and strategic investors, on restructurings and refinancings of stressed and distressed businesses. Chris has been involved in a number of high-profile transactions involving consensual and non-consensual restructuring solutions including restructuring plans and schemes of arrangement.

Chris’s experience spans all aspects of special situations mandates, from investment analysis and contingency planning through to the implementation and management of complex workouts. Chris advises leading credit funds with respect to distressed investing, including due diligence of investment opportunities and the deployment of capital in stressed and distressed situations. Chris also has considerable experience advising on pre-packaged and freefall insolvency outcomes both in the UK and on cross border transactions.

Prior to joining Sidley, Chris completed secondments at a leading private credit fund, a major international investment bank and a large clearing bank and was counsel at another international law firm.

Examples of Chris’s work include advising:

• Noteholders in relation to the US$800 million restructuring of the claims against an international oil company using a BVI scheme of arrangement with recognition of the scheme under Chapter 15 of the U.S. Bankruptcy Code.
• A syndicate of senior secured lenders in connection with the restructuring of a major Romanian oil and gas company.
• A senior bondholder group in connection with DTEK Energy’s US$2 billion restructuring, implemented using two inter-conditional schemes of arrangement.
• A syndicate of term loan lenders in connection with the cross-border restructuring of a major Argentinian energy company.
• Ad Hoc Noteholder Committee on the restructuring of the US$875 million eurobonds of a Russian transportation and logistics conglomerate, implemented using a scheme of arrangement.
• Agent and security trustee in relation to the change of governing law and subsequent contested English law schemes of arrangement, implementing the restructuring of the Apcoa Group.
• An ad hoc group of holders of notes issued by YPF S.A. in connection with its 2021 exchange offer.
• The vendor on the sale of a portfolio of c.€5 billion face value commercial real estate loans comprising more than a thousand assets.
• Lenders on the restructuring of facilities to Parabis Law LLP and, subsequently, the administrators on the pre-packaged sale of the firm.
• Agent and security trustee in relation to the restructuring of Bulgarian Telecoms Company using an English scheme of arrangement.
• Liquidity facility and swap providers on the restructuring of a £1billion ground rent securitization.
• Major Russian mining conglomerate on the refinancing of its PXF facilities.
• Pan-European syndicate of lenders on the restructuring of facilities provided to part of the InterContinental Hotel group.

The above matters were handled prior to joining Sidley.

• R3 (the Association of Business Recovery Professionals).
• The Insolvency Lawyers Association.