ALG advises BNP Paribas and a group of secured lenders in relation to the Chapter 11 restructuring of Nordic Aviation Capital

A&L Goodbody (ALG) is pleased to have advised BNP Paribas and a group of secured lenders in relation to the Chapter 11 restructuring of Nordic Aviation Capital. This included the separation and recapitalisation of Irish companies NAC Aviation 33 and NAC Aviation 34, with new equity investment from Azorra. The companies hold a portfolio of 37 aircraft comprised of 29 Embraer E-Jets and seven ATR and Q400 turboprops leased to 13 airlines across the globe. 
 
ALG advised the lenders on all Irish law aspects of the transaction with the team lead by David Baxter (Restructuring & Insolvency), Marie O'Brien (Aviation & Transport Finance), Berni Hosty (Corporate and M&A) and James Somerville (Tax) with support from associates, Stephen Ahern, Keith Mulhern and Catherine Mannix. ALG previously advised the lenders with respect to Nordic Aviation Capital's Irish scheme of arrangement. 
 
ALG head of Aviation & Transport Finance Marie O'Brien said:
“This was a significant and complex transaction that required expertise from a number of people from our corporate, aviation and restructuring teams. This type of multi-disciplinary transaction really plays to our strengths so we were delighted to have had the opportunity to be part of the advisory team on this deal."

Date published: 9 June 2022