Flip van der Drift

Associate

Amsterdam + 31.20.305.4214

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Flip richt zijn praktijk op (distressed) financieringen en een breed scala aan herstructurerings- en insolventie gerelateerde transacties, waaronder ook WHOA-herstructureringen (Wet Homologatie Onderhands Akkoord). Hij adviseert financiële instellingen en ondernemingen bij financieringstransacties en herstructureringen in verband met gesyndiceerde en enkelvoudige leningen, gesecureerde en ongesecureerde financieringen, overnames, asset-based lending en (financiële) herstructureringen. Tot zijn ervaring behoren onder meer de toonaangevende internationale herstructureringen van de Diebold-Nixdorf groep (via de WHOA en Chapter 11 in de VS), Vroon (een wereldwijd opererende Nederlandse rederij) en de syncreon groep (internationale aanbieder van oplossingen op het gebied van onder meer logistiek in de productie-industrie).

Flip maakt daarnaast deel uit van het team van curatoren in spraakmakende grensoverschrijdende (faillissements)zaken, zoals Blokker (marktleider in huishoudelijke artikelen in Nederland), Scotch & Soda (Nederlands modemerk met wereldwijde aanwezigheid), Intertoys (Europese marktleider in speelgoed retail) en Oi Mobil (Nederlandse financieringsmaatschappij van de Braziliaanse telecomgigant).

Experience

  • Naxicap Partners obtains financing for acquisition of majority stake in APF Autoparts GroupJones Day acted as legal counsel to Naxicap Partners in connection with the financing of the acquisition of a majority stake in APF Autoparts Group.
  • Direct lender provides delayed draw term loan commitments and revolving commitments to fund large sponsor-backed company's acquisition of Dutch entitiesJones Day advised a direct lender, as administrative agent, collateral agent, sole lead arranger, and lender, in connection with an amendment to the credit facility of a large sponsor-backed borrower, which included an increase in delayed draw term loan commitments and revolving commitments.
  • BNP Paribas, Coöperatieve Rabobank, and ING Belgium finance acquisition of What's Cooking Group NV's savoury branch by AURELIUSJones Day acted as legal counsel to BNP Paribas Fortis NV/SA, Coöperatieve Rabobank U.A., and ING Belgium NV/SA in connection with the financing of the sale of What's Cooking Group NV's savoury branch to the international investment group AURELIUS.
  • BNP Paribas, ING Belgium, and KBC Bank provide financing to Sticomax groupJones Day acted as legal counsel to BNP Paribas Fortis NV/SA, ING Belgium SA/NV, and KBC Bank NV in connection with the financing of the Sticomax group.
  • Citibank provides multicurrency secured credit facility to Tanks US Buyer Inc. and Tanks International Buyer B.V.Jones Day represented Citibank, N.A., as administrative agent, joint lead arranger, and joint bookrunner, in connection with a $295 million secured multicurrency letter of credit and revolving credit facility provided to Tanks US Buyer Inc. and Tanks International Buyer B.V.
  • Vibrantz completes US$140 million new STS trade receivables securitisation and €10 million trade receivables factoring programmeJones Day assisted Vibrantz Corporation in relation to a new (i) US$140 million cross-border STS trade receivables securitization transaction with ING Belgium NV/SA and NORD/LB and (ii) €10 million bilateral factoring programme with ING Commercial Finance.
  • ING Belgium and KBC Bank refinance Vydraulics groupJones Day acted as legal counsel to ING Belgium SA/NV and KBC Bank NV in connection with the refinancing of the Vydraulics group.
  • BNP Paribas, ING Belgium, and KBC Bank provide €420 million facilities to Agristo groupJones Day acted as legal counsel to BNP Paribas Fortis SA/NV, ING Belgium SA/NV, and KBC Bank NV in connection with the €420 million facilities provided to the Agristo group.
  • ABN AMRO, Belfius Bank, BNP Paribas, and KBC Bank establish €200 million facilities agreement with Mediahuis NVJones Day acted as legal counsel to ABN AMRO Bank N.V., Belfius Bank SA/NV, BNP Paribas Fortis SA/NV, and KBC Bank NV in connection with the establishment of a €200 million facilities agreement entered into with Mediahuis NV.
  • Diebold Nixdorf successfully restructures over $2.7 billion in funded debt and completes the first-ever dual proceeding under the U.S. bankruptcy code and Dutch restructuring law in 71 daysIn 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 (Wet Homologatie Onderhands Akkoord ("WHOA")), and the first-ever chapter 15 recognition of Dutch Scheme proceedings and a sanctioned WHOA reorganization plan (the "WHOA Plan"), Jones Day represented Diebold Nixdorf, Incorporated ("Diebold") and certain of its U.S. and Canadian subsidiaries (the "Debtors") in connection with (i) the prepackaged chapter 11 cases of In re Diebold Holding Company, LLC, et al., (Case No. 23-90602-DRJ) commenced on June 1, 2023, in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"); (ii) the Dutch Scheme, commenced on June 1, 2023 by Diebold Nixdorf Dutch Holding B.V. (the "Dutch Issuer") in the District Court of Amsterdam (the "Dutch Court"), and (iii) the chapter 15 proceedings before the Bankruptcy Court commenced by the foreign representative of the Dutch Issuer, wherein the Bankruptcy Court recognized the Dutch Scheme proceeding as a foreign main proceeding and recognized and extended comity to the WHOA Plan that was sanctioned by the Dutch Court.
  • Financial institutions provide financing for acquisition of AB&C GROEP B.V. by entity of EPSA GroupJones Day advised the financial institutions and some of their affiliates or related funds in relation to the financing of the acquisition of AB&C GROEP B.V. by an entity of the EPSA Group.
  • Sacyr Group and Marguerite Silver amend project Arlanzón finance documentsJones Day provided legal advice to consortium composed of Sacyr Group and Marguerite Silver in connection with the Spanish, English, and Dutch matters related with the modification and amendments of certain finance documents within the bond issuance scheme for project Arlanzón.
  • Scotch & Soda sold to Bluestar AllianceJones Day acted as administrator to Amsterdam-based Dutch fashion brand Scotch & Soda in its sale to Bluestar Alliance, a New York-based brand management company.
  • Stellex completes buyout of David Brown Santasalo GroupJones Day advised Stellex Capital Management LLC on its buyout of DB Santasalo S.à r.l from N4 Partners.
  • Arsenal Capital Partners' portfolio company acquires Mascoat Ltd. and Verdia, Inc.Jones Day advised Arsenal Capital Partners in the acquisition and financing by portfolio company Seal For Life Industries of Mascoat Ltd. and Verdia, Inc., both privately owned specialty industrial coatings companies.
  • Seal for Life acquires CanusaJones Day advised Arsenal Capital Partners in the acquisition by portfolio company, Seal For Life Industries, of the Canusa-CPS and Dhatec businesses from Shawcor.
  • ARA Asset Management acquires majority stake in Venn PartnersJones Day represented ARA Asset Management Limited ("ARA"), an Asian real estate fund management company listed on the Singapore Stock Exchange, in connection with the acquisition of a majority stake in Venn Partners LLP, a specialist investment manager in European real estate private debt.
  • JERA acquires minority stake in Formosa 2 offshore wind power projectJones Day advised JERA in the acquisition of a minority stake in the Formosa 2 offshore wind power project, located near Miaoli County off the west coast of Taiwan.
  • 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.
  • Intertoys files for bankruptcyJones Day assisted the trustee of Intertoys Holding B.V., the market leader in retail toy shops, in the company’s bankruptcy.
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