Ru-Woei Foong
Ru-Woei Foong

Ru-Woei Foong

Partner

London

+44 20 7859 3158 | +44 7824 727 077
Ru-Woei.Foong@ashurstperkins.com

Introduction

Ru-Woei drives strategic outcomes for clients across the capital structure in complex restructuring, insolvency and distressed situations.

Ru-Woei Foong focuses on complex UK and cross-border financial restructuring and formal insolvency matters. She regularly acts for a wide range of stakeholders in distressed situations, including companies and their directors, financial institutions, private credit investors, security agents and insolvency practitioners.

Her experience includes recapitalizations, consensual "handover of keys", contentious enforcements, formal insolvency (including administrations and pre-packaged sales), schemes of arrangement (including foreign recognition), distressed M&A and bespoke lending opportunities in relation to companies operating across all sectors.

  • Global manufacturing business | Advised the company in connection with its lender led c€300 million financial and operational restructuring, including an orderly transition of ownership from institutional sponsor to lender nominated vehicles.
  • Prax | Advised Teneo as joint administrators of State Oil Limited, the holding company of the Prax Group, a multinational independent energy conglomerate, and certain of its key subsidiaries, on all aspects of their administration, including anticipated claims of over £1 billion and the investigation of irregularities in connection with its complex securitization structure.
  • Vialto Partners | Advised a consortium of private lenders, alongside Davis Polk & Wardwell LLP as US counsel, on the financial restructuring of the Vialto Partners $1.25 billion balance sheet.
  • Solidus Solutions | Advised the company in connection with the potential sale of its pan-European packaging operations in parallel with preparing for a lender led financial restructuring of the group including a €300 million debt for equity swap.
  • Windward Prospects | Advised EY Parthenon as replacement joint administrators in connection with a paper company that entered insolvency due to indemnity obligations exceeding $200 million for significant environmental liabilities in the USA relating to the landmark UK Supreme Court judgment in BTI v Sequana.
  • Selina Hospitality | Advised Inter-American Development Bank on its secured loan to Selina Hospitality, a NYSE-listed hospitality and lifestyle business, which subsequently entered administration, followed by liquidation.
  • Technicolor Creative Studios | Advised the security agent on the lender led distressed disposal and debt for equity swap in connection with the recapitalization of the business.
  • Leading altnet | Advised the company and its sponsor on its recapitalization and operational restructuring, including navigating through complicated shareholder dynamics and multiple market testing processes.
  • Active Care Group | Advised the super senior lender on its strategic options in relation to Active Care Group, which culminated in a pre-packaged administration sale to a junior lender backed vehicle.
  • Telepizza | Advised the minority shareholder in Food Delivery Brands (parent to Telepizza Group, owner of the Pizza Hut brand) on a consensual debt for equity swap implemented by one of the first restructuring plans approved in Spain.

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