Finance Monthly Deal Maker Awards 2015 Edition

56 www.finance-monthly.com DEAL MAKER OF THE YEAR - BRAZIL Eneva’s US$997 million restructuring plan Chosen for his involvement in the following transaction: About Flavio Galdino Flavio Galdino is a partner at Galdino, Coelho, Mendes Advogados. He has graduated from The State University of Rio de Janeiro Law School, one of Brazil’s most prestigious schools. He also holds both a Master and a Ph.D in Brazilian Public Law from that same institution where he is currently a tenured professor of Civil Procedure. He was admitted to practice Law by the Brazilian Bar Association in 1997. Since 2006, he has been an elected member of the Board of the Brazilian Bar Association, a former President of its Legal Education Committee as well as Director of the Civil Procedure Section of the National Bar Exam. Flavio has vast experience in Corporate and Civil Litigation, Judicial Recovery and Reorganization Proceedings. He has work on behalf of creditors, debtors and investors interested in acquiring distressed assets. He has taken part in the main insolvency cases in Brazil throughout the last decade. He has worked as an expert on Brazilian Law before American Courts and has been favorably quoted by them. Flavio has also published a number of articles and books which constantly inspire the Brazilian Courts’ decisions on such matters including the Brazilian Supreme Court. Transaction Repor t ENEVA S.A. and ENEVA PARTICIPAÇÕES S.A. belong to “Grupo ENEVA”, one of the most important players the Brazilian energy sector. ENEVA S.A. and ENEVA PARTICIPAÇÕES S.A. have been under court-supervised reorganization in Brazil since December 2014 and presented its restructuring plan pursuant to the Brazilian Insolvency Act. The restructuring plan provides for actions to be taken in order to overcome the economic crisis and generate resources to pay the pre-petition debts to banks and suppliers. The plan was approved by an almost unanimous consensus among the creditors in a record timespan of only 5 months and was promptly homologated by the Brazilian Courts in 2015. In a rare accomplishment, it provided for a capital increase which allowed ENEVA S.A. to have nearly US$ 1 Billion injected in its reserves. The capital increase was split in two different approaches. On one side, assets subscription by some creditors and stakeholders. On the other, subscription of shares by creditors through conversion of a part of their credits. Considering that ENEVA’s debts reached as much as BRL 2.4 Billion, the outcome of this reorganization was magnificent both for the debtors and the creditors. It combined a fair and efficient turnaround within the smallest time possible in a manner never seen before since the Brazilian Insolvency Act was enacted in 2005. It is true to say that this is the fastest and most successful reorganization procedure related to a debt this great. FLAVIO GALDINO Par t ner a t Ga ldino, Coe lho, Mendes Advogados WINNER: Rio de Janeiro Av. Rio Branco 138 / 11º andar, 20040 002 / Centro, Rio de Janeiro / RJ T +55 21 3195 0240 São Paulo Av. Brigadeiro Faria Lima 3900 / 11º andar, 04538 132 / Itaim Bibi, São Paulo / SP T +55 11 3041 1500 Brasília Saus Sul / Quadra 05, Bloco k / nº 17 / salas 501-507, 70070 050 / Brasilia / DF T +55 61 3323 3865