The Asset, published by leading multimedia company Asset Publishing and Research Limited, has named Mayer Brown “Best Restructuring Law Firm” at The Asset Triple A Awards 2013 for its excellence in generating favourable results for clients.
The Asset recognised Mayer Brown for having demonstrated the breadth and depth of its restructuring team as it crafted solutions for its clients involving cross-border transactions. It highlighted the firm’s role in acting as domestic and international legal counsel for the Vietnam Shipbuilding Industry Group (Vinashin) on its successful application to the High Court in the UK for sanction of a scheme of arrangement with certain of its creditors pursuant to a US$600 million facility. Vinashin had liabilities of more than US$4.5 billion at the commencement of its financial restructure.
The court held that it had jurisdiction to sanction the scheme even though Vinashin had no operations or assets in the UK because the loans were governed by English law and subject to the non-exclusive jurisdiction of the English courts. The three-year exercise is the first large-scale international restructuring undertaken by a Vietnamese state-owned enterprise.
The Mayer Brown Restructuring, Bankruptcy & Insolvency practice is ranked Tier 1 by leading legal directories such as Chambers and Partners and IFLR1000. It has also been named “Insolvency Law Firm of the Year” eight times by another leading legal news and analysis provider, Asian Legal Business.