Rabih Alkadamani briefed in approval of $1b schemes of arrangement

The Supreme Court of New South Wales today approved the $1 billion BIS Group schemes of arrangement. The BIS Group provides services to the mining industry. Rabih Alkadamani appeared with Senior Counsel for creditors representing debts of $650 million. The BIS Group scheme contained a number of novel features including variations to consent thresholds in the finance documents and shareholder board representation rights. As well as appearing at both Court hearings, Rabih provided advice and input prior to the filing of the scheme. Black J’s judgment for convening of the creditors’ meetings can be found at  http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/nsw/NSWSC/2018/3.html 

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