Harneys wins 2021 Deal of the Year Award from IFLR Europe

Harneys is pleased to announce it has won a Deal of the Year Award from IFLR Europe for its role in Virgin Atlantic’s restructuring.

Harneys advised the Virgin Group on BVI law matters in relation to Virgin Atlantic’s £1.2 billion private-only solvent recapitalisation of the airline and holiday business. Its Restructuring Plan was sanctioned by the English High Court under Part 26A of the UK Companies Act 2006, and formally recognised as a foreign proceeding in the US. Transactional Partner Rachel Graham led the Harneys team.

Rachel commented: “We are delighted that our work has been recognised by IFLR. The deal, which by its very nature was complex involving a large number of interested and competing parties, showcased our team’s ability to act on exciting and challenging time sensitive restructuring transactions.”

The IFLR Europe Awards recognise legal innovation in multi-jurisdictional transactions, highlighting deals that break new legal ground and set new legal high-water marks in the region. Winners are chosen on research including nominations and conversations with law firms, in-house teams and clients.

The firm’s dedicated global Restructuring practice group offers specialist expertise required to navigate the complexities which can arise for a distressed company in a cross-border environment. Led by a team of ranked partners, the group works closely with the firm’s Transactional, Litigation, Funds, Trusts, Tax and Regulatory teams, providing clients with a seamless service and bespoke legal advice that is tailored to their individual needs.