Ogier advises on the administration and restructuring of Travelex

Ogier has recently advised on the administration and restructuring of Travelex, a global market leader in cash foreign exchange services operating in more than 60 countries.

The Ogier team advised an ad-hoc group of senior secured noteholders in relation to the administration and financial restructuring of Travelex. Due to the ongoing challenging economic climate, certain of Travelex's creditors agreed to provide additional funding in return for ownership of certain parts of the Travelex business, which involved the creation of a new holding structure for the group and the issue of new warrants to the noteholders. 

Throughout the transaction, the Ogier team, led by group partner Matthew Shaxson with assistance from associate Robin Burkill, worked closely with the London office of Akin Gump Strauss Hauer & Feld LLP.

Matthew said: "We were delighted to take part in this high profile restructuring which demonstrated the Ogier team's ability to act on complex matters such as this and the strength of our restructuring expertise."