A slew of legal advisers helped conclude Thailand's largest and most prolonged debt restructuring. The $3.7 billion restructuring of Thai Petrochemical Industry (TPI) included a $750 million debt/equity conversion and a $650 million equity purchase by strategic investors. Johnson Stokes & Master, led by Bangkok partner Steven Miller, advised the committee of creditors which included 140 lenders. Baker & McKenzie acted for the original plan administrator and Norton Rose represented the second plan administrator. TPI was advised by Linklaters before the court-based rehabilitation. Siam Niti provided Thai law advice to the second plan administrator and International Legal Counsellors Thailand represented TPI's executives and former controlling shareholders.
May 31 2006