Michael Panayi, Associate Financial Restructuring

Michael Panayi

Associate

Areas of Focus

Michael Panayi, Associate Financial Restructuring

Michael Panayi

Associate

michael.panayi@akingump.com

Areas of Focus

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Biography

Michael is an associate in our financial restructuring group and acts for creditors and debtors on complex consensual and non-consensual cross-border restructurings and formal insolvencies across a number of different sectors, including commodities, energy, healthcare and retail.

Representative Work
  • Fortenova: Counsel to Fortenova Group, a food producer and retailer in Croatia and the surrounding region, on issues arising from the existence of sanctioned Russian debt and equity holders in its capital structure.
  • NMC Healthcare: Counsel to the creditors' committee to NMC Healthcare Ltd on its over $7 billion restructuring by way of the first ever administration and deed of company arrangement in Abu Dhabi Global Markets, and subsequently the restructured group.
  • Codere: Advised the company in relation to its second scheme of arrangement of New York law-governed notes, including the successful defence of a challenge to the scheme on class and fairness grounds.
  • Eskom: Represented a consortium of lenders to Eskom regarding its restructuring.
  • Tullow: Represented the RBL lenders to Tullow Oil plc on its successful refinancing.
  • Veon: Advised the RCF lenders to Veon, the Dutch headquartered telecoms company, in relation to issues arising out of Russia’s invasion of Ukraine.
  • Oil & Gas Portfolio: Represented a senior secured lender on multiple coordinated security enforcements and insolvency proceedings in relation to a portfolio of oil & gas assets. 
  • Matalan: Represented the U.K. retailer Matalan on its 2023 recapitalization and on its 2020 £50 million CLBILS liquidity raise and associated English scheme of arrangement.
  • Hotel Group: Represented a mezzanine lender, in relation to the financial restructuring and sale of a household name U.K. hotel group.
  • Prosafe: Represented the company on its restructuring by way of Singapore schemes of arrangement, parallel Norwegian reconstruction process and recognition procedures in various jurisdictions.
  • Nyrstar: Counsel to the coordination committee of senior secured lenders in relation to the $2 billion Nyrstar restructuring implemented via a mix of consensual arrangements and English schemes of arrangement.
  • British Steel: Counsel to the Official Receiver and Special Managers of British Steel on the sale of the business and assets to Jingye Steel and Iron.

List may include matters worked on prior to joining Akin.

Languages
  • Greek

Education
  • LL.M., BPP University Law School, England, 2018

  • LL.M., University of Cambridge, 2017

  • M.A., University of Cambridge, 2016

Bar Admissions
  • Solicitor, England and Wales

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