A&M Restructuring team was engaged to support Atento in establishing the relevant alternative scenario required for the restructuring plan proceedings and to estimate the likely returns to stakeholders under this alternative scenario.
Four highlights from the Atento case study:
- Atento was the final Restructuring Plan of 2023, a year that saw 13 Restructuring Plans – not all of which were sanctioned by the English court.
- Despite a diverse lender group across multiple facilities, the Atento Restructuring Plan received near unanimous support from creditors and was sanctioned by the English court on 17 November 2023.
- This article assesses the success of the Atento Restructuring Plan, which incorporated several novel features, against the backdrop of fiercely contested Restructuring Plans throughout 2023.
- The restructuring community will need to pay close attention to the contentious areas being tested by the court as the principles and guidance develop, and the article concludes with observations and predictions for the future of the UK Restructuring Plan.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.