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Zhong Lun Advises on Steinhoff EUR9bn Restructuring
Zhong Lun Advises on Steinhoff EUR9bn Restructuring
Being thrown into disarray, the global retailer giant Steinhoff group has launched a restructuring recently (the “Restructuring"). The Restructuring involves several jurisdictions including England, People’s Republic of China, Austria, Germany, Swiss, Poland, Luxembourg, Netherland, Hungary, Gibraltar and Hong Kong Special Administrative Region, with a total amount of EUR 9 billion.
As the PRC legal counsel of an ad hoc group of Steinhoff Europe AG (a subsidiary company in the Steinhoff group) creditors, Zhong Lun Law Firm worked together with an international law firm for the Restructuring. Zhong Lun Law Firm was responsible for reviewing relevant finance documents, drafting relevant security documents and issuing the legal opinion in regard to PRC laws, etc. The Zhong Lun team was led by partner Wenyong (Michael) Zhang and key member included associate Tu Hao.
