Matthew Czyzyk
Partner
Matthew is a partner in the business restructuring group of Ropes & Gray’s London office. He has broad experience acting for debtors, investment and commercial banks, private credit funds and other alternative capital providers. He has advised on transactions across the credit spectrum, including cross-border and domestic financial restructurings, lending transactions, and distressed and recovery situations.
Experience
- Represented Output Services Group, Inc. and certain of its affiliates in connection with its prepackaged Chapter 11 cases. Output Services Group is a leading provider of integrated customer communications and engagement services. The company’s plan of reorganization successfully restructured approximately $825 million of funded indebtedness through a consensual deleveraging of approximately $134 million and new money capital infusion of approximately $70 million. In 2023, The M&A Advisor recognized the successful restructuring of Output Services Group as “Information Technology Deal of the Year” as part of its 17th Annual Turnaround Awards.
- Advised a group of bondholders to Garrett Motion, a leading auto technology company, on its restructuring in Chapter 11
- Acting for a global asset manager in relation to its refinancing of a leading European media business
- Acting for a leading European telecoms business in relation to certain bond issuances
- Acting for a leading private equity business in relation to a distressed M&A transaction in the telecommunications sector
- Advised Lebara, a European telecom business, on the refinancing of the group’s capital structure
- Acting for Bain Capital Credit in connection with a US$275 million holdco financing and related investment to support Mohegan Gaming & Entertainment’s US$1.55 billion Phase 1 development of the INSPIRE Entertainment Resort in South Korea
- Acting for Triton in relation to the €28.7 million refinancing of Cata Electrodomesticos
Representative matters prior to joining Ropes & Gray include advising:
- an ad hoc group of bondholders to Lebara, in relation to a share pledge enforcement and subsequent restructuring of the group’s capital structure
- a group of lenders to Bulsatcom, a Bulgarian telecommunications business, in relation to an enforcement and refinancing process
- the Wentworth Group, with respect to Lehman Brothers International Europe’s English scheme of arrangement
- Noble Group Limited, with respect to its restructuring by means of English and Bermudian schemes of arrangement
- an ad hoc group of creditors as lenders to Steinhoff, in relation to the restructuring of the group’s capital structure
- certain lenders to Turkish Telecom, with respect to the restructuring of the company’s capital structure
- an ad hoc group of credit funds in relation to the restructuring of Ocean Rig
- an ad hoc group of credit funds on the Chapter 11 restructuring of Vertellus
- the senior lenders on the financial restructuring of Ambatovy, Africa’s largest nickel extraction facility
- a pan-European steel manufacturer on the restructuring of its debt
- an ad hoc group of lenders in relation to the restructuring of Oi Telecom
- a Welsh steel manufacturer in relation to the restructuring of its debt
- The Hellenic Republic on the 'PSI 2' restructuring of its public debt
- KKR Credit in relation to various direct lending investments
- the financial advisor to Hellenic Bank in relation to its recapitalisation plan and associated exchange offer
- various European corporate clients on their debt financings, including revolving credit facilities, pre-export financing facilities, MTN programmes and ECP issuances
- a number of European corporate clients on various consent solicitations
- both issuers and underwriters on a number of European high yield bond transactions
Publications
- Co-author, “Ongoing developments at Silicon Valley Bank UK,” Ropes & Gray Alert (March 12, 2023)
- Co-author, “Restructuring plans under the UK’s Companies Act,” IFLR (February 22, 2023)
- Co-author, “European restructuring & insolvency – what we saw in 2022 and what to expect in 2023,” Insolvency Insider (January 20, 2023)
- Co-author, “Implications of the Rule in Gibbs on the Effectiveness of Schemes of Arrangement to Compromise US Law-Governed Debt,” Global Restructuring Review (December 20, 2022)
- Quoted, “U.K. Executives Scramble to Adjust to Weakening Pound, Rising Finance Costs,” The Wall Street Journal (October 3, 2022)
- Co-author, “Lender-on-lender violence: a European perspective,” IFLR (September 14, 2022)
- Co-author, “England and Wales: Restructuring Reforms Put into Practice,” GRR's Europe, Middle East and Africa Restructuring Review 2022 (February 25, 2022)
- Quoted, “Restructuring and distressed activity to pick up for advisors but buysiders find opportunities wanting – Distressed Preview,” Debtwire (January 11, 2022)
- Quoted, “Distressed debt funds turn to equity,” International Financing Review (December 18, 2021)
- Co-author, “United Kingdom,” The Legal 500: Lending & Secured Finance Country Comparative Guide (March 31, 2021)
- Co-author, “Gategroup: implications for the recognition of English restructuring processes in the EU,” Ropes & Gray Alert (March 29, 2021)
- Speaker, “Recent Developments in European Restructuring Regimes,” Ropes & Gray Podcast (March 26, 2021)
- Quoted, “Post-Brexit rules to make M&A and restructuring deals trickier,” IFR (January 30, 2021)
- Author, “European Restructuring and Distressed Trends,” Ropes & Gray Alert (January 13, 2021)
- Author “England and Wales: a Landmark Year for Legislative Reform,” GRR’s Europe, Middle East and Africa Restructuring Review 2020 (December 15, 2020)
- Quoted, “Direct lenders take action on struggling companies,” IFR (November 12, 2020)
- Author, “Schemes under scrutiny: recent developments provide further guidance to companies considering the procedure,” Ropes & Gray Alert (September 25, 2020)
- Quoted, “A waiting game,” Real Deals (September 17, 2020)
- Quoted, “Holdouts wary of new UK cramdown law,” IFR (August 29, 2020)
- Co-author, “‘Turning Over A New Lease?’ Are turnover-based leases the answer for tenants facing COVID-19-related business disruption?,” Ropes & Gray Alert (August 27, 2020)
- Quoted, “Swissport safeguards future as lenders agree millions of euros of support,” Reuters (August 21, 2020)
- Quoted, “Virgin Atlantic to test new insolvency laws,” IFR (July 24, 2020)
- Quoted, “Sense of the Markets: U.K.'s Rushed Insolvency Law a 'Mixed Bag',” The Deal (July 10, 2020)
- Quoted, “Hasty UK insolvency law 'gives with one hand, takes away with the other',” GlobalCapital (July 2, 2020)
- “Schemes of Arrangement: have they reached their limit?” International Financial Law Review (January 25, 2016)
- “Bondholder meetings: drafting under scrutiny,” International Financial Law Review (April 24, 2013)
Disclaimer
Ropes & Gray International LLP is a limited liability partnership registered in Delaware, United States of America and is a recognised body regulated by the Solicitors Regulation Authority (with registered number 521000).Education
- Legal Practice Course, Nottingham Law School, 2006
- Graduate Diploma in Law, Nottingham Law School, 2005
- MA (Hons) (Geography), Worcester College, University of Oxford, 2003
Admissions / Qualifications
Qualifications
- England and Wales, Solicitor, 2009
Awards
- M&A Advisor, Cross-Border Restructuring of the Year (2023)