Alvarez & Marsal Concludes Restructuring Support of Luckin Coffee
Alvarez & Marsal’s Asia and Cayman Islands teams facilitated and supported the restructuring of Luckin Coffee Inc. (the Company).
Following the appointment of Alex Lawson and Tiffany Wong as the joint provisional liquidators (the JPLs) of the Company on July 15, 2020 by the Grand Court of the Cayman Islands, the JPLs and their team provided the necessary skills and expertise to facilitate and support a complex restructuring of the Company’s debt obligations via a Cayman Islands scheme of arrangement which had all creditors voted in favour of. The Cayman Islands scheme was subsequently enforced in the U.S. under Chapter 15 of the Bankruptcy Code. The JPLs have now successfully brought the provisional liquidation to a close. This shows the significant benefit of a Cayman Islands provisional liquidation to create a stable platform and allow for the negotiation and restructuring of a company’s financial obligations.
Leveraging A&M’s established expertise in restructuring and performance improvement, we will continue to support businesses in navigating the restructuring process and accelerating positive change.
