Newton Legal Advises Creditor on Restructuring of JBF Rak

6 November 2024

Newton Legal advised a creditor in the US$ 1,000,000,000 restructuring of JBF Rak LLC, an industrial manufacturer with plants in Ras Al Khaimah, United Arab Emirates, and 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, who in turn will operate as a subsidiary of the Investment and Development Office, the investment arm of the Emirate of Ras Al Khaimah.  

The firm acted as local counsel advising on the corporate structure contemplated by the restructuring plan, the relevant security arrangements in Bahrain and the transaction documents related to Bahrain. The team was led by Ahmed Al Fardan and included Samar Al Mahmood.