Australia’s leading independent law firm Corrs Chambers Westgarth has advised NASDAQ-listed Air T, Inc. (Air T) on its acquisition of Regional Express Holdings Limited (Rex).
Air T, an American aviation group, acquired 100% of the issued share capital in Rex, Australia’s leading regional airline, via a deed of company arrangement, bringing to an end Rex’s 16-month external administration and ensuring the continued operation of its regional business. The transaction involved negotiating a comprehensive suite of ongoing debt arrangements with Rex and the Commonwealth Government.
Led by partners Sandy Mak, Jeremy Horwood and Tom Schinckel, Corrs advised on all aspects of the transaction with support from the firm’s restructuring, insolvency and special situations, corporate, tax, technology, media and telecommunications, employment, labour and safety and real estate practices. Alvarez & Marsal acted as restructuring advisor to Air T.
Commenting on the matter, Tom Schinckel said: “We are thrilled to advise Air T on this significant transaction which will help secure Rex’s future, maintain essential regional air services, and position the business for long-term sustainability.
“This transaction highlights Corrs’ expertise in complex cross-border M&A and restructuring and reinforces its reputation as a leading legal adviser in the aviation sector.”