Image of Karen McMaster

Karen McMaster

Partner

Email

karen.mcmaster@aoshearman.com

Phone

+44 20 3088 1392

Offices

London

V-CARD
Karen specialises in assisting buy side and distressed investors structure, negotiate and implement investments in distressed, stressed or special situation credits.
She also has experience in all aspects of debt restructuring and reorganisation, from initial contingency planning and options analysis to the implementation and management of complex workouts. 

Expertise

Industries

Experience

Representative matters

  • A group of lenders to Dutch horticultural business Dummen Orange in their provision of emergency liquidity and acquisition of the group from incumbent shareholders.
  • A group of lenders to Plus Server Gmbh, a German cloud services company in their acquisition of the group, via an English scheme of arrangement.
  • A group of Ad hoc bond holders in the financial restructuring of Food Delivery Brands, implemented by a Spanish restructuring plan.
  • A group of TLB Lenders to SLV Lighting, a German lighting business in relation to its recent debt extension and amendments.
  • The Hemisphere lenders in the context of the Steinhoff Group restructuring process implemented by a Dutch WHOA.
  • The steering committee of lenders on the financial restructuring of the German/Austrian group Schur Flexibles, including a debt-to-equity swap.
  • A fund providing financing to, and in relation to a credit bid for the Corbin & King restaurant group in a sale process run by an Administrator, including in relation to connected moratorium and injunctive proceedings.
  • An ad hoc group of secured creditors in respect of the Irish Scheme of Arrangement of Nordic Aviation Capital, and its later reorganisation through a Chapter 11 bankruptcy process.
  • Voyager Aviation in respect of its recapitalisation via a consent solicitation with a fall back Irish Scheme or Chapter 11 bankruptcy.
  • The lead bank with respect to the provisions of financing to the administrators of NMC Health Group, the first example of such financing being provided and first ever appointment of administrators in the Abu Dhabi Global Markets to oversee the restructuring of a UAE wide group of Companies.
  • A group of noteholders in relation to the restructuring negotiations of the German Heat Exchange Group, Galapagos S.A.
  • A group of PIK Holders in the restructuring and sale of Young’s Seafood Group.
  • The unitranche lenders on the acquisition of Casual Dining Group Limited.
  • A lender on the restructuring of Prezzo Limited.
  • The unitranche lenders in connection with the clawback of fraudulent acts undertaken by a SME borrower.
  • A group of second lien creditors in relation to the restructuring of French retailer Camaieu.
  • A lender lending against intellectual property assets of a European retailer in the context of that retailer’s imminent distress.
  • A committee of senior creditors in connection with the restructuring of Red Bee Media.
  • Dissenting creditors in the Scheme of Arrangement of Guardian Digital Communications Limited.
  • Orizonia (formerly Iberostar), a Spanish tourism and travel company in its €640m restructuring.
  • The lead investors on the acquisition of the French steel manufacturer Ascometal from its liquidators.
  • A group of senior debt/ cross holders in the refinancing of Spanish gaming company Codere SA’s senior facilities.
  • The lender group in the initial €475m restructuring of the Spanish supermarket business, Dinosol Supermercados, S.L. and its subsequent restructuring and sale in 2012.
  • A committee of creditors in connection with the lender led acquisition of Dutch directories business, Truvo (World Directories).
  • Administrators including the administrators of Woolworths Plc and Lehman International (Europe). 

Qualifications

Academic

BA/LLB, University of Melbourne
Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.