NEW YORK – Nov. 11, 2026 – A Restructuring & Special Situations team from global law firm Greenberg Traurig, LLP was named runner-up for the American Bankruptcy Institute’s (ABI) 2026 International Matter of the Year in recognition of its work advising Growler Mining Tuscaloosa, LLC (Growler) on the financial restructuring of Argo Blockchain plc (Argo), a Nasdaq-listed cryptocurrency mining company operating in the United Kingdom, United States, and Canada. ABI announced the award during its International North American Insolvency Symposium, held Nov. 10 in New York.
The transaction marked the first Part 26A restructuring plan involving a Nasdaq-listed company in which the plan company itself was the listed issuer of the securities being restructured. Greenberg Traurig advised Growler on securing an emergency working capital facility and a comprehensive restructuring solution to address Argo’s short-term liquidity needs and long-term balance sheet sustainability.
The restructuring recapitalized Argo’s business and preserved its Nasdaq listing throughout an unprecedented process that required two appearances before a Nasdaq panel. The team successfully argued that a Part 26A restructuring is distinct from Chapter 11 or other insolvency proceedings, thus avoiding automatic delisting from the exchange. As a result, Growler secured an 87.5% equity stake in Argo. This transaction has set a significant precedent, demonstrating that the Part 26A regime enables Nasdaq-listed companies to restructure while maintaining market access, an option not currently available under the U.S. bankruptcy framework.
The cross-border transaction required the team to navigate U.K. restructuring law; U.S., U.K., and Canadian corporate, mergers and acquisitions, and finance law; U.S. and U.K. securities and tax law; Canadian tax matters; and the requirements of both Nasdaq and the London Stock Exchange. The matter also involved novel issues surrounding Argo’s continued Nasdaq listing during and following the Part 26A restructuring.
The Greenberg Traurig team was led by Shareholder David R. Eastlake and included Global Restructuring & Special Situations Practice Co-Chair John Houghton; Shareholders Rupert Cheetham,Barbara A. Jones,Henrietta Walker, Aaron Harlow, John J. Dyer, Pallav Raghuvanshi, James Mountain, Luke Lado, Alex Tostevin, Sophie Allen, and Kyle Jaep; Senior Associates Kevin Mulligan and Nickie Pickernell; and Associates Adam D. Potter, Emily D. Nasir, Kaiyu (Connie) Keng, Andrew E. Richardson, Emma Noehrbass, and Emanuele Vincent.
The multidisciplinary Greenberg Traurig team brought together lawyers from London, Houston, Los Angeles, Atlanta, New York, and other offices across the firm, drawing on experience spanning Restructuring & Special Situations, Capital Markets, Corporate, Banking & Financial Services, Finance, and Tax.
The restructuring enabled Argo to avoid insolvency, secure new assets and funding, and maintain its Nasdaq listing. The transaction also provided Growler with a controlling interest in the recapitalized publicly listed company, with new power infrastructure and mining equipment and capital to support further expansion in the cryptocurrency and high-performance computing sectors.