FMS Wertmanagement settles with Apcoa Parking Group
Clients FMS Wertmanagement AöR
Jones Day represented FMS Wertmanagement AöR in the restructuring of Apcoa Parking Group’s financial indebtedness of more than € 700 million. The restructuring was brought about by means of a widely-discussed scheme of arrangement under English law which was novel in many respects. FMS initially opposed the scheme but withdrew its objections following a settlement with Apcoa and other key lenders. FMS Wertmanagement is an institution of the German government which was established to wind up an asset portfolio of the nationalized Hypo Real Estate group, and one of Apcoa’s lenders. Apcoa is the leading European car park operator.