Sep 2025
Conyers advised Cerberus European Investments, LLC and Independent Sugar Corporation Ltd. (INSCO) on the corporate insolvency resolution process of Hindustan National Glass and Industries Limited (HNGIL).
As part of the transaction, KRPV Fire Fite Private Limited issued INR 1,600,00,00,000 of unlisted, senior, secured, unrated, redeemable, non-convertible debentures by way of private placement. The debentures were issued to Vistra ITCL (India) Limited, acting as agent and debenture trustee for the Debenture Holders.
The proceeds were utilised for the implementation of the resolution plan submitted by Independent Sugar Corporation Ltd., a Bermuda exempted Company, in respect of HNGIL. Independent Sugar Corporation Ltd., acted as guarantor and provided security to the Debenture Holders for the payment and performance of the secured obligations of the Issuer under the Debentures.
Conyers acted for Cerebus European Investments, LLC, advising on all aspects of Bermuda law, including the preparation and execution of the related security documents, corporate authorizations, and compliance with Bermuda regulatory requirements.
Director Chiara Nannini and Associate Nicole Yearwood advised on this matter, working alongside Linklaters LLP and Cyril Amarchand Mangaldas.