Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Brave New World for Czech miner as UK scheme sparks cross-border legal battle

By Jack Barton

16 November 2016

Brave New World for Czech miner as UK scheme sparks cross-border legal battle Coal mining iStock.com/agnormark

In 2014, Eastern Europe’s largest coal miner completed a complex cross-border restructuring by shifting its centre of main interest to London to utilise an English scheme of arrangement; two years later a Czech court has ruled that the deal was unfair, allowing its chief subsidiary to sue the company for close to US$1 billion.