Federal Mogul Corporation Completes Massive Cross-Border Restructuring

North America - United States | Europe - United Kingdom

Federal Mogul Corporation completed a massive cross-border restructuring — involving over $9 billion in asbestos liabilities, $4 billion in finance and trade debt, and $2 billion in pension liabilities — that was implemented through multiyear joint U.S. Chapter 11 and English administration proceedings. 

Patrick Corr and Susan Moore acted for Federal Mogul Corporation in the matter, which used first-of-their-kind “light touch” administrations with more than 130 U.K. incorporated entities subject to administration and complementary Chapter 11 proceedings.

This case was nominated for Restructuring Deal of the Year in The Lawyer Awards. 

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