Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

AED 4 Billion Debt Restructuring for JBF RAK LLC Successfully Closed

A&O Shearman’s Middle East restructuring team has successfully closed a landmark AED 4 billion debt restructuring for JBF RAK LLC, marking another significant milestone in the UAE’s restructuring landscape.

Adam Fadian, who led the A&O Shearman team advising RAK Gas, with international restructuring support from Nick Lister in London, highlighted the achievement:

"We are immensely proud to have worked alongside RAK Gas in delivering another major court-sanctioned restructuring under the UAE Bankruptcy Law. Coming hot on the heels of the Drake & Scull restructuring, this is another major success story.”

Key Highlights of the Deal:

• Successful Court-Sanctioned Restructuring: Completed under UAE Bankruptcy Law.
• Strengthened Financial Position: RAK Gas’s financial position is fortified while ensuring sustainable debt management.
• Leadership in Complex Restructurings: Reinforces A&O Shearman’s position as a leader in complex Middle East restructurings.

Adam Banks, Partner, emphasized:

"The restructuring of JBF RAK is a testament to the collaborative efforts of all parties involved and underscores our position as the leading law firm in the Middle East for complex restructurings."

A&O Shearman Team Involved:

The team advising RAK Gas LLC included:

• Adam Fadian
• Nick Lister
• Yacine Francis
• Anthony Traboulsi
• Zeid Qursha
• Judith Kim
• Aaron Temple
• Sean Tobin
• Anthony Mrad
• Charlotte Hall
• Haifaa Ibrahim
• Natasha Mutch
• Philip Wells
• Linda El Halabi
• Nadeen Haddadin
• Nour Gemayel
• Rushal Noor

This restructuring success further cements A&O Shearman’s expertise in delivering high-profile financial turnarounds across the Middle East.