Mishmeret Trust Company completes Chapter 11 reorganization plan for All Year Holdings Limited
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Mishmeret Trust Company Limited served as Trustee, in a Chapter 11 reorganization plan of the Series B, C, D and E Bonds issued by All Year. This formed the largest creditor constituency in the case with more than USD 560 million of bonds traded on the Tel Aviv Stock Exchange.
Chapman and Cutler served as U.S. counsel to the bond trustee, Mishmeret Trust Company.
The plan represents the culmination of a 27-month restructuring and 15-month multi-jurisdictional insolvency proceedings, including a Chapter 11 proceeding in the United States Bankruptcy Court for the Southern District of New York, and proceedings before the Eastern Caribbean Supreme Court in the High Court of Justice, Commercial Division Virgin Islands and the District Court of Tel Aviv – Yafo.
The Chapman team was headed by Michael Friedman, Israel practice head and practice leader for the firm’s Special Situations and Restructuring Group, with partners Dave Audley, Paul Carman, Heath Martin, Cathy Rossouw, Eric Silvestri, Stephen Tetro and associates Helena Honig and Noam Bar-Or.
