ODI has advised domestic and foreign financial creditors on the EUR 35 million out-of-court financial restructuring of debtor Vipap Videm Krsko, the largest paper mill in Slovenia and a prominent newsprint manufacturer in CEE.
ODI's clients were NLB (the biggest Slovenian bank), NKBM (the second largest Slovenian bank), asset management company TCK, and Czech financial institutions IMOB and Prisko. According to ODI, it "advised on all legal issues in respect of restructuring procedure, drafted and negotiated the standstill agreement, performed a due diligence exercise of existing collaterals, and advised on corporate matters." The firm was also involved in the first phase of the expected joint sale process, and drafted and negotiated the term sheet and joint sale agreement.
The ODI team consisted of Managing Partner Uros Ilic and Senior Associate Lea Vatovec, supported by Associate Masa Drkusic on the real estate due diligence exercise. Ernst & Young provided financial advice to Vipap Videm Krsko.
