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DTEK: Has the English High Court Provided Another Option for Restructuring New York Law Bonds?

Posted: 27 Apr, 2017

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In Re DTEK Finance BV, the English High Court decided that a change in the governing law of bonds from New York to English law, established a sufficient connection with the English jurisdiction for it to sanction the bonds' restructuring via a UK scheme of arrangement.

In this alert, Devi Shah, co-head of Mayer Brown’s Restructuring, Bankruptcy and Insolvency team in London, and Henry Glen, Senior Associate in that team, consider the recent DTEK case, in which the High Court in England sanctioned the restructuring of bonds issued by a Netherlands company following a change of governing law from New York to English law.

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