DWF has advised global advertising software company Videology on the UK aspects of its high profile restructure and sale.
The restructuring team at DWF provided UK legal advice on the multi-million pound restructure and sale of TV and video advertising specialist Videology to Amobee, a subsidiary of Asian communications business Singtel, for in excess of $100m. As part of the transaction the team successfully applied to the UK High Court for protection to allow the U.S. Chapter 11 process to take effect, a first under the Cross Border Insolvency Regulations and a significant development in international restructuring transactions.
The restructure was led by DWF associate partner Matthew Brown and assisted by senior associate Ashley Jaques, associate Danielle Bennett and trainee solicitor Theo Watkins.
Matthew Brown, restructuring associate partner at DWF, said: "As well as safeguarding a valuable business, this transaction has shown the UK Court's flexibility and willingness to support international restructuring transactions. The innovative process demonstrates our strong capabilities in cross border insolvency."
DWF's business restructuring team operates internationally across the UK and Europe and provides expert advice to clients across different sectors including healthcare, financial services and retail.A copy of the recognition judgement can be found here.