Linklaters is pleased to have advised the syndicate of senior lenders (the “Lenders”) to gategroup Holding AG (“gategroup”) and its subsidiaries (together the “Group”) in connection with the Group’s comprehensive capital restructuring (the “Restructuring”). The Restructuring involved a substantial liquidity injection from the Group’s shareholders and an extension to the maturity of the Group’s debt, consisting of the Lenders’ facility and a Swiss law-governed bond. An extension to the maturity of facilities provided to gategroup’s holding company has been effected.

The amendments were implemented through the recently introduced ‘restructuring plan’ procedure under Part 26A of the Companies Act 2006 – one of the first few such plans sanctioned by the English court. The judgment continues to attract substantial commentary in connection with the court’s acceptance of the Group’s categorisation of the Part 26A procedure as an insolvency proceeding for the purposes of the Lugano Convention.

The Group is the global leader in airline catering, retail-on-board and hospitality products and services, serving more than 700 million passengers annually from over 200 operating units in over 60 countries and territories across all continents.

The Linklaters team was led by Partners Nick Le Masurier and Chris Medley, and supported by Partner Damien Gomez, Managing Associate Brad Pawlak and Associates Conor O’Brien and Shayan Hassan.