August 12, 2022
Weil has advised a number of large GDP-warrant and bondholders in connection with the successful consent solicitations to delay interest and maturity payments on Ukraine’s sovereign debt and to delay certain payments under the GDP-warrants.
The plan to suspend debt serviced by Ukraine for two years has been supported by a group of creditors which includes the U.K., U.S., Canada, France, Germany and Japan and was announced on August 10, 2022. Observers to the group include Australia, Austria, Belgium, Brazil, Denmark, Finland, Ireland, Israel, Italy, Korea, the Netherlands, Norway, Spain, Sweden and Switzerland.
Andrew Wilkinson, Co-Head of Weil’s London Restructuring practice who is leading the Weil team said: “We are pleased to have advised certain larger GDP-warrant and bondholders on the recent consent solicitation, which allows the Ukrainian Government to address liquidity and financial pressures at this very difficult time as Ukraine continues constructive engagement with the capital markets.”
The Weil team is also being assisted by Restructuring counsel Kirsten Erichsen.