Walkers Advises Hilong Group on Restructuring

Walkers is pleased to have acted as Cayman Islands legal counsel to the Hilong Group in relation to Hilong Holding Limited's ("Hilong") financial restructuring, implemented by way of a Cayman Islands scheme of arrangement (the "Scheme").

The Scheme was approved by an overwhelming majority of Hilong's creditors at a scheme meeting held on 4 May 2021 (Cayman Islands time) and was sanctioned by Order of the Grand Court of the Cayman Islands on 6 May 2021 (Cayman Islands time). The Scheme became effective in accordance with its terms on 7 May 2021 (Cayman Islands time) and the restructuring became effective on 18 May 2021 (Cayman Islands time).

The restructuring, which primarily consisted of the release and cancellation of Hilong's existing notes in exchange for the issuance of new notes, will relieve Hilong's short-term repayment pressure and allow the Hilong Group to focus on its business operations.

Walkers was led by Cayman Islands partner Matt Goucke with senior counsel Fiona MacAdam and associates Marc Hecht, Siobhan Sheridan and Zoë Nolan also acting on the matter.

Walkers was instructed by Sidley Austin LLP.

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