Legal Services
Aoshearman
Full Credential Description
AO Shearman successfully advised the Creditors Committee of Emirates Hospitals Group LLC (EHG) in a significant debt restructuring amounting to approximately AED3.5 billion (around USD950 million). EHG, a prominent multi-specialty healthcare provider in the UAE, faced substantial challenges after entering bankruptcy proceedings in July 2021. The restructuring was notable for its scale and complexity, being the first of its kind under the UAE bankruptcy law, and it received overwhelming approval from EHGs creditors. The tailored solution involved a comprehensive restructuring plan that included a significant reduction of unsustainable debt and the establishment of a new tiered capital structure. Additionally, a robust governance framework was created, featuring a board composed of well-known healthcare professionals both locally and internationally. This restructuring also provided EHG with additional financing to support its ongoing operational needs. The successful implementation of this restructuring marks a major milestone in EHGs turnaround efforts and represents the third large-scale restructuring completed under the UAEs bankruptcy laws within the same year. AO Shearman played a pivotal role in these transactions, demonstrating their capability to navigate complex multi-stakeholder scenarios and deliver innovative solutions. The restructuring not only highlights the effectiveness of the UAEs bankruptcy framework but also showcases AO Shearmans leadership in the regional market for restructuring .