Administration
Jersey court recognises English bankruptcies of former TV boss couple
The English bankruptcy trustees for two directors of a collapsed outside broadcast equipment provider, who stand accused of orchestrating what might be the UK’s biggest ever fraud in asset-backed lending, have secured recognition of their appointments in Jersey to pursue assets in the Channel Island.
02 December 2022
Lehman Brothers' European arms extend administrations as NY litigation rolls on
The joint administrators of Lehman Brothers’ main European arm have secured an extension of its administration in London, pending the outcome of litigation in New York that could force them to deal with an additional creditor claim of up to US$20.7 million.
22 November 2022
Comet liquidator wins preference claim against its former parent
The former owner of English electronics retailer Comet Group has been ordered to pay more than £89.6 million to its additional liquidator in what may be the largest unfair preference claim ever brought before the English High Court.
21 November 2022
KordaMentha, King & Wood Mallesons hired for Deliveroo Australia’s administration
Deliveroo’s Australian operating subsidiary has entered voluntary administration appointing a team from KordaMentha advised by King & Wood Mallesons, in a case that could raise interesting questions for tech companies with non-physical assets.
17 November 2022
ADGM leaves questions over effectiveness of NMC’s DOCAs to 2023
NMC Healthcare’s administrators have failed to obtain directions on the effectiveness of the group’s restructuring carried out earlier this year, after a court in the Abu Dhabi General Market held it would be more appropriate for the issue to be decided at a trial next July.
15 November 2022
German department store chain Galeria enters protective shield proceedings again
Department store chain Galeria Karstadt Kaufhof has entered protective shield proceedings in Germany for the second time in as many years, with advice from McDermott Will & Emery and local firms Seitz and Wellensiek.
04 November 2022
PwC trio tipped to act as administrators for British online furniture retailer
A subsidiary of online furniture and homeware outlet Made.com has announced it will file a notice of intention to appoint administrators from PwC, after it failed to secure a buyer during a formal sale process it began in September.
03 November 2022
McDermott advising as VW and Daimler supplier enters administration in Germany
A supplier to German automotive giants Volkswagen and Daimler has placed its German affiliates into insolvency, blaming increased energy and material costs.
25 October 2022
ISDA events of default cease on termination of Lehman administration, English court rules
Two UK aerospace manufacturers must honour interest rate swap transactions they have been avoiding for over a decade, after an English court found events of default under the ISDA Master Agreement would cease to continue when Lehman Brothers’ main European arm exits administration.
11 October 2022
NMC Healthcare secures anti-enforcement order against “rogue creditor”
Middle Eastern healthcare group NMC has restrained financial broker Noor Capital from pursuing enforcement proceedings against it in Dubai, with counsel to the group telling GRR the injunction prevents “one rogue creditor” undermining its successful restructuring.
10 October 2022