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Dechert LLP advises Yestar Group's US$200 Million Restructuring

Dechert LLP advises Yestar Group's US$200 Million Restructuring


Yestar is a prominent distributor and service provider of in vitro diagnostic products in the People's Republic of China (PRC), was advised by Dechert on the successful restructuring of its New York law-governed US$200 million senior notes

The consensual restructuring, backed by an overwhelming majority of note holders, marks a significant milestone for Yestar. Sanctioned by the Cayman court on February 28, 2024, this achievement was made possible through a meticulously executed Cayman Islands scheme of arrangement. This strategic move underscores Dechert's ability to swiftly and efficiently structure, negotiate, and implement solutions to safeguard the business operations of its clients.

Leading the multidisciplinary and cross-border team at Dechert was Hong Kong resident partner Daniel Margulies. Alongside Daniel Margulies were counsels Dirk Behnsen and Yang Shao, as well as associate Siobhan Leung. The team's collaborative efforts extended to include New York-based partner Shmuel Vasser and counsel Stephen Wolpert.

Commenting on this remarkable accomplishment, Daniel Margulies expressed his satisfaction, stating, "We are delighted to have acted as international lead counsel to Yestar to deliver this resounding success." Daniel Margulies emphasised that the achievement not only underscores Dechert's expertise across regions but also highlights its commitment to formulating and executing restructuring deals that benefit all key stakeholders.

Moreover, Daniel Margulies extended congratulations to the Yestar team, acknowledging their crucial role in the process. He also expressed gratitude to Yestar for entrusting Dechert with this significant matter, reaffirming the firm's dedication to serving its clients with excellence and integrity.

The successful restructuring of Yestar's US$200 million senior notes stands as a testament to Dechert's reputation as a leading global law firm adept at navigating complex legal landscapes. As businesses continue to navigate economic challenges and seek innovative solutions, firms like Dechert play a pivotal role in facilitating successful outcomes and ensuring the long-term sustainability of their clients' enterprises.