Search Ocorian

woman in glasses speaking to two people in meeting

RESTRUCTURING AND INSOLVENCY SERVICES

We work with issuers, borrowers, lenders and noteholders to handle stressed, distressed, defaulted and insolvency situations quickly, securely and without conflict.

PROVEN EXPERTISE IN COMPLEX RESTRUCTURINGS

We’re a trusted partner in both contentious and non-contentious distressed, insolvency and special situations. We support instructing parties through out-of-court and in-court restructuring and insolvency processes, security enforcement and litigation matters. 

Through our subsidiary Nordic Trustee, we provide a full suite of trustee and agency roles, including bond trustee, facility agent, security agent, paying agent, escrow agent, holding period trustee, lock-up and information agent, tabulation agent and settlement agent.

Beyond trustee and agency roles, we can establish and administer special purpose vehicles used in enforcement and restructuring processes and provide independent directors for replacement bonds. We use our proprietary technology to manage lock-ups and consent exercises efficiently through the international central securities depositaries.

OUR TRACK RECORD: SELECTED TRANSACTIONS

Accessible Slider title

  • Northvolt bankruptcy

    Acted as facility and security agent for Northvolt’s debtor-in-possession financing. This funding supported the company’s operations during the process and enabled a successful sale of its assets.

  • Intrum debt restructuring

    Acted as replacement facility agent, security agent and interim bond trustee to support Intrum’s debt restructuring following the company’s U.S. Chapter 11 proceedings and corporate reorganisation.

  • Creditor group security enforcement

    Acting as security agent, we assisted the creditor group with preparations and contingency planning for a security enforcement over a passenger cruise liner vessel.

  • Multi-role support following loan acceleration

    Acting in multiple capacities including senior note agent and security agent, we assisted transaction parties following a counterparty default and loan acceleration.

  • Holding period trustee for debt-to-equity refinancing

    Acting as holding period trustee, we assisted a UK-based company with a debt-to-equity swap refinancing.

HOW WE CAN HELP

Accessible Slider title

  • Comprehensive trustee and agency coverage

    Our processes allow us to efficiently replace an incumbent note and/or security trustee as successor trustee in fast moving restructuring situations. As a full suite provider of issuer, trust, and agency services, we can also step in to act as share trustee, settlement agent and listing agent in certain jurisdictions.

  • Deep liability management exercise (LME) capability

    We understand the complex workings of LME processes and leverage extensive technical knowledge of security structures, intercreditor agreements and enforcement law to move transactions forward with precision and speed.

  • Collaboration with deal parties to reach resolutions

    Our expert teams collaborate with instructing parties in out-of-court and in-court restructuring processes, and coordinate stakeholders in consensual and non-consensual situations, as well as during litigation.

OUR RESTRUCTURING SERVICES

As bond trustee we represent investors, noteholders and creditors with professionalism and  independence. We maintain a firm grip on documentation details and keep processes moving forward with excellent communication and organisational skills.

As holding period trustee, we hold assets and cash proceeds in trust on behalf of creditors for an interim period post restructuring. This ensures that creditors are able to claim their restructuring entitlements after the event deadline, if required.

As share trustee we hold the legal title to shares in trust on a temporary basis so that restructuring deals can proceed smoothly. We hold shares until the restructuring becomes effective and shares can be transferred to new owners.

As facility agent we support swift restructuring resolution with fast, accurate lender and adviser communications, and meticulous management of cash flows, amendments, consents, and waivers in dynamic restructuring situations.

As security agent we track documentation with rigour and impartiality to safeguard the interests of noteholders, and ensure that any change of control over collateral is executed without delay or uncertainty.

As replacement trustee and agent we replace incumbents swiftly and seamlessly. We take over responsibility for communications and the administration of payments, consents and collateral security with minimal disruption. 

As paying agent we ensure that all interest payments, amortisations, repayments and fees are tracked and disbursed accurately and expediently in complex restructuring processes.

As lock-up and information agent we serve as the central point of contact for noteholders, advisers and clearing systems. We ensure that creditors have all the materials they require to review restructuring deal proposals, and maintain accurate records of creditor support for restructuring deals. 

As settlement agent we ensure that the terms of restructuring agreements are met, and that all cash payments and securities transfers are exchanged correctly. As escrow agent we safeguard funds and assets, only releasing assets when all restructuring deal conditions are met.

As tabulation agent we count and verify creditor votes, report on results and protect creditor vote integrity.

As listing agent we ensure that any new or amended securities post-restructuring are admitted for trading or listing on the required exchanges.

We can set up SPVs to execute enforcement and restructuring processes, and provides full SPV administration and accounting support. Ocorian also appoints independent directors for replacement boards as required.

We have the geographical reach, multi-jurisdictional expertise and scale to manage large cross-border restructurings. Our teams are adept at facilitating resolutions in contentious and non-contentious restructurings. 

WHY WORK WITH US

  • More than 50 years of cross-sector restructuring experience

    Our team of restructuring specialists has extensive experience handling consensual and non-consensual restructurings, workouts and contingency planning across multiple jurisdictions, structures and assets classes.

    More than 50 years of cross-sector restructuring experience
  • Independent and conflict-free execution

    We are a truly neutral party with no conflicting lender or creditor positions. Our only priority is the impartial protection of stakeholder interests.

    Independent and conflict-free execution
  • Digitally enabled lock-up and consent processes

    Our proprietary digital tools produce real-time data, streamlined workflows and full transparency to expedite the restructuring agreement process.

    Digitally enabled lock-up and consent processes
  • Global reach. Local expertise

    We have a network of more than 20 offices across Europe, Asia and the Americas, providing reach, responsiveness and local capability.

    Global reach. Local expertise

What you say

What you say

  • "Ocorian offers an excellent level of service delivered by experienced professionals. They stand out for their flexibility, responsiveness and quality of decision making."

    Law firm, London

Let’s talk

Contact us and a member of our team will be in touch. 

If you would like to speak to someone in regards to media please email: [email protected]

For career information and job applications please visit our careers page