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Jones Day shortlisted in two categories for Global Restructuring Review awards

Global Restructuring Review (GRR) has shortlisted Jones Day in the "Debtor-side law firm of the year" and "Pioneering spirit" categories for its annual GRR Awards, which recognize the restructuring practices and individuals that have impressed most over the past year. The "Pioneering spirit" category recognizes the Firm for both its representation of Diebold in a $2.7 billion debt restructuring and for its representation of Vroon Group shareholders in a €1 billion debt restructuring.

The Diebold matter was the first‐ever cross-border restructuring involving dual main proceedings under Chapter 11 of the U.S. Bankruptcy Code and a scheme of arrangement (the "Dutch Scheme") under the Dutch Act on Confirmation of Extrajudicial Plans (WHOA). Diebold effectuated a comprehensive restructuring of its balance sheet and obtained a worldwide stay and discharge of its funded debt obligations. Also the first of its kind, Vroon's restructuring utilized both a parallel Dutch WHOA and an English Scheme of Arrangement. The English scheme was part of a broader effort aimed at facilitating a debt-for-equity swap and allocating creditors various equity instruments in a new Dutch holding entity. The Firm's additional debtor side achievements include advising the joint administrators of The Body Shop International Limited in connection with the trading administration and subsequent sale of the company's business and assets; and a restructuring plan approval via a StaRUG proceeding in the Berlin restructuring court on behalf of Spark Networks, which resulted in new equity ownership for the funded debt holders and material debt reduction for Spark.

Jones Day's Business Restructuring & Reorganization Practice is recognized for its ability to resolve complex restructuring issues and problems in jurisdictions throughout the world involving debtors, creditors, and other parties in business restructurings, out-of-court workouts, chapter 11 cases, and other transactions with financially distressed entities. The Firm's clients in these matters receive a full range of services from more than 100 restructuring lawyers in financial centers worldwide.

Jones Day is a global law firm with more than 2,400 lawyers in 40 offices across five continents. The Firm is distinguished by: a singular tradition of client service; the mutual commitment to, and the seamless collaboration of, a true partnership; formidable legal talent across multiple disciplines and jurisdictions; and shared professional values that focus on client needs.