Newton Legal Advises Creditor in USD 1 Billion Court-Led Restructuring of JBF RAK

25 September 2024

Newton Legal advised a creditor in the US$ 1,000,000,000 restructuring of JBF Rak LLC, an industrial manufacturer with industrial plants in the United Arab Emirates, Bahrain and Belgium.

Under the court-led corporate restructuring, creditors of JBF RAK will assume control of JBF Bahrain and JBF Belgium who will be run independently from JBF RAK. JBF RAK intends to operate as a subsidiary of the Investment and Development Office of the Emirate of Ras Al Khaimah.

The firm acted as local counsel and advised on the corporate structure contemplated by the restructuring plan, the release and retake of existing security arrangements in Bahrain as well as Bahraini governed transaction documents.

The team was led by Ahmed Al Fardan and included Nadia Al Jaber, Samar Al Mahmood, Maryam Al Bastaki and Dana Yaqoobi. Commenting on the deal, Ahmed Al Fardan noted: “We are pleased to have been entrusted with such a significant mandate and to have played a role in closing this transaction”.