Davis Polk & Wardwell and Harneys Westwood & Riegels have acted as U.S. and Cayman Islands counsel to Luckin Coffee on its scandal-plagued restructuring, successfully bringing the coffee chain—China's version of Starbucks—out of bankruptcy. Despite the scandal and expulsion from Nasdaq, the retailer has thrived.
May 11, 2022 at 02:46 PM
4 minute read
Asia Editor
Davis Polk & Wardwell and Harneys Westwood & Riegels have acted as U.S. and Cayman Islands counsel to Luckin Coffee on its scandal-plagued restructuring, successfully bringing the Chinese coffee chain and Starbucks wannabe out of bankruptcy.
The advice involved the restructuring of New York law-governed $460 million, 0.75% convertible senior notes due in 2025 in order for creditors to retrieve their full investments.
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