Kay V.Morley

Partner

London + 44.20.7039.5156

Kay Morley has been a member of several award winning legal teams that have resolved matters in the real estate, infrastructure, shipping, hospitality, and automotive industries. She advises on all aspects of corporate restructuring, with a particular focus on European special situations and complex cross-border restructurings.

Kay acts for par and distressed investors as well as financial institutions, officeholders, corporates, and private equity firms. She regularly advises financial institutions on all aspects of corporate restructuring ranging from refinancing and restructurings to cross-border enforcement strategies. She advises distressed investors on the acquisition of loan portfolios and individual credits including the implementation of "loan to own" strategies. Kay has particular experience advising on offshore matters and on restructuring situations in Eastern Europe.

Kay's representative transactions include advising a committee of senior lenders to Codere S.A; representing an ad hoc committee of senior secured noteholders on Algeco; advising BVI Liquidators on the restructuring and subsequent sale of a US$1bn private equity portfolio with assets in Russia, Georgia, and the Balkan States; advising Dutch trustees in connection with Brazilian bankruptcy of ship builder OSX; advising FTI Consulting on the sale of the Whitgift shopping centre in connection with the new Westfield shopping centre in Croydon; advising a leading development bank on the restructuring of facilities provided to fund infrastructure assets in Kyrgzstan; advising a European travel agency on its restructuring; advising Jarvis Hotels on its restructuring; and advising and successfully obtaining for Standard Bank a €137m summary judgment against Sheikh Mohamed Bin Issa Al Jaber.

Experience

  • Triton completes restructuring of $1 billion of Galapagos debtJones Day advised private equity fund Triton Investment Management Limited in a restructuring of its investment in Galapagos, a German industrial group with customers in 130 countries.
  • Ad hoc group of senior secured lenders advised in landmark restructuring of the syncreon groupJones Day acted for the ad hoc group of senior secured lenders in the landmark restructuring of the global logistics syncreon group which was implemented via English Schemes of arrangement, with chapter 15 recognition in the U.S. and CCAA recognition in Canada.
  • Trafigura acquires majority stake in Nyrstar operating businessJones Day advised Trafigura Group Pte. Ltd. (“Trafigura”), a market leader in the global commodities industry, in connection with its acquisition of a majority stake in the operating business of Nyrstar, a multi-billion dollar global metals business.
  • Cineworld Group completes asset monetization strategies in United States through cinema sale-leaseback transactionsJones Day advised UK headquartered, Cineworld Group PLC in connection with an asset monetization strategy in the United States involving a combined cash consideration of $556.3 million cinema sale-leaseback transactions to convert a substantial portion of Cineworld’s U.S. real estate holdings into cash to leverage its equity and optimize efficiency.
  • FTI Consulting act as receivers in global restructuring of BMI HealthcareJones Day advised Andrew J. Johnson and Chad Griffin of FTI Consulting LLP in their capacity as fixed charge receivers of the share capital in the BMI Healthcare group in connection with the restructuring of the BMI Healthcare business.
  • International Automotive Components Group completes refinancing of Senior Secured NotesJones Day advised International Automotive Components Group, S.A., a leading global supplier of automotive components and systems, in connection with the issuance of $215 million of Senior Secured Notes due 2023 to Gamut Capital Management, L.P. in a private placement.
  • Development bank advised on enforcement of facilities to Kyrgyztan borrowerJones Day advised a leading emerging market development bank on a number of complex cross-border enforcement and recognition issues in respect of a Kyrgyzstani borrower with English law facilities, but relevant security and assets in Kyrgyzstan, Germany, Russia and Uzbekistan.
  • European travel agency restructures after sale to hotel consortiumJones Day advised a leading European travel agency group on its restructuring options following a period of decreasing sales and margins in an increasingly competitive market.
  • OSX Leasing Trustee successfully exports oil and gas vessel from Brazilian watersJones Day is advising the Dutch Trustee in bankruptcy in connection with the oil and gas vessel OSX1, part of the OSX/OGX group, which is subject to bankruptcy protection proceedings in Brazil (and is reported to be its largest ever bankruptcy filing).
  • Investment manager bids for portfolio of Dutch commercial real estate loansJones Day advised an investment manager on its bid for a portfolio of non-performing multiborrower (all German funds) Dutch law loans secured by Dutch commercial real estate being sold by FGH Bank N.V.
  • Paperlinx sells off its business and assetsJones Day is advising Matthew Smith and Neville Kahn of Deloitte LLP in their capacity as joint administrators of various UK Paperlinx companies.
  • Whitgift Centre Croydon sold to Westfield/Hammerson joint ventureJones Day advised FTI Consulting LLP on their appointment as receivers over the Whitgift Centre in Croydon and on its subsequent sale to a Westfield/Hammerson joint venture for an undisclosed sum.
  • Liquidators seek advice in relation to dissolution of BVI limited partnershipJones Day is acting as lead advisers to Kenneth Krys and John Greenwood of KRyS Global in their capacity as joint dissolution trustees of Value Discovery Partners L.P. ("VDP"), a very substantial private equity fund.
  • Arora Hotels restructures its secured debtsJones Day represented the creditors of Arora Hotels in connection with the restructuring of its secured facilities.
  • Committee of Senior Lenders to Codere restructures debts of insolvent Codere Group and successfully exits from insolvent groupJones Day advised the Committee of Senior Lenders to Codere S.A. in connection with the restructuring of the debts of the insolvent Codere Group and their subsequent successful exit from the insolvent group.
  • Cosgrave Property Group restructures its debtJones Day advised an investment management firm in connection with the acquisition and subsequent restructuring of a portfolio of loans advanced to the Cosgrave Property Group ("CPG") and originally provided by Ulster Bank.
  • Canyon Capital and Sankaty Advisors acquire loan portfolio secured by QHotels Group from Irish Bank Resolution Corporation LimitedJones Day advised Canyon Capital Advisors LLC and Sankaty Advisors, LLC in the acquisition of a portfolio of loans secured by QHotels Group from Irish Bank Resolution Corporation Limited.
  • Jones Day London advises charity in relation to VAT dispute with HMRCJones Day acted for Sutton Counselling in successfully challenging Her Majesty's Revenue and Customs' ("HMRC") decision that VAT should be paid on amounts received by the charity for providing counselling services to Sutton residents on the basis that these were taxable supplies.
  • RSM Tenon sells businessJones Day represented RSM Tenon as the Joint Administrators of an international wine shipper and wholesaler with respect to the marketing and sale of its business and certain of its assets.
  • Informal Committee of Creditors wins application for compulsory liquidation of company as investigations continue into controversial pre-packaged administration of HellasJones Day advised an Informal Committee of subordinated noteholders ("Committee") of Hellas Telecommunications (Luxembourg) II S.C.A (the "Company") during a two year investigation conducted by the Company's Administrators into the circumstances surrounding the pre-packaged administration in which the noteholders saw their €1.24 billion investment wiped out.
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