Global law firm White & Case LLP has won "Sovereign Debt Restructuring of the Year" at this year's Global Restructuring Review Awards.
The award, shared jointly with Lazard Frères, Newstate Partners and Weil Gotshal & Manges, is for our work on the US$13 billion sovereign debt restructuring for Zambia. The Firm advised the Zambian government on negotiations with all its non-Eurobond creditors—including official creditors like China—under the newly created Common Framework, a G20 initiative to facilitate debt restructuring in low-income countries. Lenders led by China have agreed to rearrange US$6.3 billion in loans, with a three-year grace period on interest payments, along with extended maturities.
The matter also won the Restructuring category of the FT Innovative Lawyers Europe 2024 report.
