Linklaters has advised a syndicate of banks and funds in connection with the second financial restructuring of the 299MW Tees Renewable Energy Plant, the worldās largest new build pellet biomass power plant. The power plant is located in Teesside, UK and is operated by MGT Teesside, itself controlled by Macquarie Group and Danish pension group PKA.
TheĀ first restructuring planĀ advised on by Linklaters in 2023 raised Ā£80m, and this second restructuring plan facilitates the injection of up to Ā£85m of new super senior funding.
The restructuring plan sanction judgment puts beyond doubt the requirement for expert evidence under CPR Part 35 for English Part 26A Restructuring Plans and treatment of plan meetings attended by only one plan creditor.
Linklatersā cross-practice team consisted of partnersĀ Nick Le MasurierĀ andĀ Rowland Light, managing associateĀ Tibor Korman, and associatesĀ Charlotte Spanner,Ā Hilaire WongĀ andĀ Nicola HiestermannĀ (Restructuring & Insolvency), with partnerĀ Ross Schloeffel, managing associateĀ David Leeming, and associateĀ Seneba JamaĀ (Energy & Infrastructure) and counselĀ Jo JimenezĀ (Leveraged Finance).
