Weil has been recognized for its work on the successful debt restructuring of China Aoyuan Group Limited (“Aoyuan”), which has been named “Asia-Pacific Restructuring Deal of the Year” at the IFR Awards 2024.

Weil acted as counsel to the ad hoc group of bondholders in relation to the restructuring of more than US$7 billion of offshore debt of China Aoyuan Group Limited and its subsidiary, Add Hero, including over US$3 billion of offshore bond debt. Aoyuan is a leading commercial and residential property developer that focuses on the Guangdong-Hong Kong-Macao Greater Bay Area and covers four major regions in the PRC. The successful restructuring pioneered a dual scheme of arrangement structure and set a template for other Chinese property developers to implement dual schemes of arrangement to increase the chance of success for their restructurings, according to the IFR Awards.

This award-winning matter was led by Hong Kong partner Kathleen Aka and the team included counsel Graham Price and associates Minna Zhang, Isolde Tsukabayashi and Jaime Yeh in Hong Kong.

“We are pleased that this innovative, benchmark-setting restructuring has been recognized as the year’s top restructuring in the Asia-Pacific region,” Kathleen commented. “The achievement is a testament to the collaborative effort of all the advisors who worked together cordially towards the completion of this highly complex restructuring, and the Weil Asia Restructuring team’s ability to guide clients through the entire process of managing distressed assets and investments in the most challenging situations.”

IFR (International Financing Review) is the world's leading provider of global capital markets intelligence with a pedigree stretching back over four decades. Its annual IFR Awards is the pre-eminent forum for recognizing achievement and success in global capital markets.