Global Brokerage Emergence’s Chapter 11

King & Spalding acted as debtor’s counsel to Global Brokerage Emergence and its affiliates. Perella Weinberg Partners LP was the financial advisor.

Global Brokerage successfully emerged from bankruptcy having exchanged its $172.5 million in convertible notes for new notes, an amended and extended loan for Global Brokerage’s subsidiaries, and amended governing documents.

On November 2017 Global Brokerage Inc., its affiliate Global Brokerage Holdings LLC, FXCM Group LLC, Leucadia National Corp. and LUK-FX Holdings LLC, and an ad hoc group of holders of more than 68.5% of Global Brokerage Inc.’s 2.25% convertible notes due 2018, entered into a agreement to restructure the obligations of the Global Brokerage companies under a prepackaged Chapter 11 bankruptcy.

The K&S team was led by Sarah Borders (PIcture) and included Thaddeus Wilson, Israel Dahan, Keith Townsend, Zachary Davis and William Roche.

Involved fees earner: Sarah Borders – King & Spalding; Israel Dahan – King & Spalding; Zachary Davis – King & Spalding; William Roche – King & Spalding; Keith Townsend – King & Spalding; Thaddeus Wilson – King & Spalding;

Law Firms: King & Spalding;

Clients: Global Brokerage Holdings LLC;

Author: Ambrogio Visconti