GRATA International acted as Kazakh local counsel on the successfully completed US$2 billion debt restructuring of JSC Astana Finance (Astana Finance), the Kazakh financial services group. A GRATA International’s Restructuring & Insolvency group lead by Shaimerden Chikanayev, Marina Kahiani and Lola Abdukhalykova has advised Astana Finance since 2011 on all Kazakh law aspects in connection with Astana Finance's financial restructuring. Stephen Roith, who lead Sidley Austin’s team as international counsel of Astana Finance, said that “This restructuring has proved to be a lengthy and complex process, negotiated with a range of different creditors within the context of difficult global market conditions and involving court proceedings in Kazakhstan under the country’s special bank restructuring regime co-ordinated with successful recognition proceedings in the United States and the United Kingdom”.
Advising certain foreign creditors on BTA Bank and Alliance Bank financial restructurings.
In INSOLVENCY LITIGATION:
Representing a syndicate of European banks - secured creditors of a major Kazakh agricultural holding company in court proceedings over the debtor’s bankruptcy;
Advising and representing a major Kazakhstan oil company - debtor in court proceedings over rehabilitation (administration);
Advising and representing a top-tier American oilfield service company - a creditor of Kazakhstan oil company - debtor in court proceedings over rehabilitation (administration);
Advising and representing a large German pharmaceutical company - creditor of Kazakhstan agricultural service company-debtor in court proceedings over rehabilitation (administration);
Advising an international Swedish publishing company on issues relating to bankruptcy of its subsidiary in Kazakhstan;
Advising an international company engaged in the manufacturing of rubber products on issues relating to bankruptcy of its subsidiary in Kazakhstan;
Advising a major Kazakh telecommunication company on bankruptcy of its shareholder in Kazakhstan;]
Advising and representing a major Kazakh industrial holding company - debtor in court proceedings over rehabilitation (administration);
Advising and representing a large European trading company - creditor in court proceedings over rehabilitation (administration) of a debtor - supplier of petrochemicals;
Advising a large Kazakh pharmaceuticals company on certain aspects bankruptcy proceedings under Kazakh law;
Advising and representing a major Kazakh construction company - a third party in court proceedings over bankruptcy of a debtor;
Advising and representing a large European trading company - creditor of a major Kazakh company producing polyethylene pipes in court proceedings over the debtor’s rehabilitation (administration).
Advising and represented Huawei Technologies Co., Ltd. as a creditor in bankruptcy procedure of the mobile operator Fonex (AkTel LLC), participated in court proceedings, credtiros’ meetings, and advised the client on restructuring AkTel LLC, observed tenders and supported the client during the procedure of a special administration.
Restructuring of a company in bankruptcy case.
Representation of a major logistics operator in a dispute with customs authorities in a court.