Sinjini Saha

Milbank LLP's Financial Restructuring London co-head Sinjini Saha is speaking at the GRR Live: Restructuring in the Americas conference in New York on 16 October 2025. Sinjini is speaking on the “Redefining restructuring: the rise of LMEs in the Americas and Europe,” panel, along with Jason Goldstein, partner at Gibson Dunn; Andrew Parlen, partner at Latham & Watkins; and Erica Weisgerber, Partner at Debevoise & Plimpton. The panel is moderated by Justin Lee, partner at Weil.~~The panel will look at liability management exercises (LMEs) as they continue to gain traction across the Americas and Europe, and will explore their growing role as a strategic alternative to traditional restructuring. With insights from the Serta Simmons case, panelists will examine the legal, structural and cross-border implications of this evolving trend.~~This is the third year of GRR Live: Restructuring in the Americas. This year’s conference will bring together top-tier professionals, including lawyers, insolvency practitioners, restructuring and turnaround experts, bankers, investors and consultants. Together, they’ll explore and debate the most pressing developments and trends shaping the restructuring landscape across the Americas.~~More information on the conference can be found here: Agenda - GRR Live: Restructuring in the Americas 2025.

Oct 15

1 min

Milbank LLP’s Financial Restructuring London co-head Sinjini Saha spoke on a panel on Cooperation Agreements last week, exclusively for members of the European Leveraged Finance Association (ELFA). Sinjini was joined by Jeff Dorst, Managing Director and Liability Management practice leader at Houlihan Lokey. The panel was moderated by Sabrina Fox, Chief Executive Officer of ELFA.~~The panel explained the concept of Cooperation Agreements, examined the pros and cons of these contracts and discussed their use as they become more prevalent in Europe in stressed and non-stressed contexts.~~The recording can be found here (ELFA members only): Cooperation Agreements Webinar - European Leveraged Finance Association

Jul 26

1 min

Milbank LLP has advised Oaktree Capital Management and its affiliates (“Oaktree”) on a €425 million refinancing of a term loan facility to Scranton Enterprises, a leading healthcare and biosciences company based in the Netherlands, with operations in the United States, Germany and Hungary. Milbank acted as lead international and German counsel and advised Oaktree on all aspects of the transaction. Milbank’s co-counsel were NautaDutilh in Luxembourg and the Netherlands, Walkers (Ireland) LLP in Ireland, and Lakatos, Köves and Partners in Hungary. The Milbank team was led by Corporate Finance and Securities special counsel Varun Natteri Mangadu and Financial Restructuring partner Sinjini Saha, and included associates Diana Dai, Paavani Garg, Ryan Al-Hakim, Isabel Langlois and trainee Eamon MacDonald. US law advice was provided by partner Benjamin Sayagh and associate Christine Qin and German law advice was provided by partner Barbara Mayer-Trautmann and associates Susanne Baier and Marlon Kiechl.

Jul 31

1 min

Milbank LLP has advised Frigoglass Group, a global commercial refrigeration and glass packaging solutions company for the beverage industry, on the sale of its Nigerian Glass Division and its entry into an agreement with noteholders to, among other things, secure a €20 million financing facility and extend maturities of its senior secured notes due 2026. Milbank worked alongside Tetrad Capital Partners on the transaction. Following a competitive process, Frigoglass entered into an agreement to sell the entirety of its shareholding in Frigoinvest Nigeria Holdings B.V., the holding company of its Nigerian Glass Division (including Beta Glass plc and Frigoglass Industries Nigeria Limited), which comprise the Group’s glass container, plastic crates and metal crowns manufacturing activities, to Helios Investment Partners (acting on behalf of the funds it advises) for consideration of up to €100 million. The transaction is expected to complete in the first quarter of 2026. Frigoglass also entered into a transaction support agreement (the “TSA”) with a group of holders (the “Consenting Noteholders”) holding significant majorities in each of its senior secured notes due 2026 with an initial principal amount of €20 million (the “Super Senior Notes”), senior secured notes due 2026 with an initial principal amount of €75 million (the “Senior Secured Notes”) and second lien secured notes due 2028 with an initial principal amount of €150 million (the “Second Lien Notes,” and, together with the Super Senior Notes and the Senior Secured Notes, the “Notes”). Under the terms of the TSA, the Consenting Noteholders have, among other things, consented to implement amendments to (i) extend the maturity dates of the Super Senior Notes and the Senior Secured Notes to March 27, 2028, respectively, (ii) permit the retention of net proceeds from certain asset disposals under the terms of the Notes, and (iii) if necessary, release certain collateral granted in favour of the Notes and for such collateral to be granted in favour of one or more local credit facilities. The Consenting Noteholders further agreed to backstop the issuance of additional Super Senior Notes in an amount of up to €20 million with the first such issuance of €10 million having already taken place to support working capital purposes and the ongoing transformation and growth of the Group’s commercial refrigeration division. The Milbank team included partners Lara Watt, Ana Grbec, Andrej Wolf and Sinjini Saha, special counsel Suzanne Thomson, James Simpson and Melanie Probst, and associates Aoibheann Harkin, Daniel Woods, Patrick Kratzenstein and Karishma Mehan. Partner Andrea Hamilton led on antitrust-related matters and the team was supported by partner Alan Rafferty and associate Jade Du Berry on tax-related matters.

Jan 26

2 min

Milbank LLP acted as English restructuring and global antitrust counsel to Roche on the completion of its acquisition of LumiraDx group’s Point of Care technology, an innovative diagnostics platform Roche signed a sale and purchase agreement with LumiraDx’s English parent company on December 29, 2023, to acquire the LumiraDx group’s Point of Care platform business as part of a pre-packaged English administration sale. Certain mandatory closing conditions including antitrust and regulatory approvals were required before closing could occur. Milbank’s antitrust team successfully secured Phase 1 unconditional CMA clearance for the transaction, as well as unconditional clearances for all other required regulatory conditions within the targeted timeframe. The LumiraDx group’s Point of Care platform business was, in the interim period, operated by the LumiraDx’s English parent company’s administrators. Roche is one of the world’s largest biotechnology companies and a leader in in-vitro diagnostics, having been founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines. LumiraDx group is a next-generation Point of Care diagnostics company that has sought to transform community-based healthcare since its founding in 2014 by consolidating multiple Point of Care tests on a single instrument. The Milbank team advising Roche included partners Sarah Levin, Alexander Rinne, Andrea Hamilton and Sinjini Saha, special counsel Nicholas Crossin and Moritz Lichtenegger, and associates Rajpreet Lachhar and Jan Maas. The transaction represents an innovative use of English pre-packaged administration sales to carry out the carve-out of an entire business unit from a complex corporate group and required worldwide coordination across practice areas. Milbank advised Roche alongside Davis Polk & Wardwell, who were lead English and New York corporate counsel on the transaction.

Jul 30

1 min