Administration

FRP boosts London restructuring team

FRP Advisory has expanded its restructuring team in London with a partner hire from the UK’s financial regulator and a new director who worked on the Thomas Cook and HMV insolvencies.

13 January 2022

Another Part 26A first as Smile Telecoms secures convening hearing for sole creditor

Pan-African telecoms group Smile Telecoms has won approval to convene a plan meeting for a single creditor after convincing the English High Court to employ a never-before-used tool to exclude other plan participants because they are out of the money.

12 January 2022

Gibraltar court clarifies powers of protected cell company administrators

The PwC administrator of parts of a Gibraltarian protected cell company may apply to hold a private examination of one of its directors under the local regime for such entities, Gibraltar’s Supreme Court has confirmed.

06 January 2022

Former BHS director fails to strike out wrongful trading claims

A former director of the defunct UK department store chain BHS has failed to strike out aspects of a major wrongful trading and misfeasance claim that the retailer’s liquidators are set to pursue against him and three ex-colleagues in 2023.

09 December 2021

English court confirms validity of Patisserie Valerie liquidation

UPDATED: A decision by former KPMG partners to put café chain Patisserie Valerie into creditors’ voluntary liquidation in late 2019 was valid even though they didn’t consult all creditors, an English court has ruled.

03 December 2021

IWIRC launches 50th network around the world

The International Women’s Insolvency & Restructuring Confederation has launched its 50th network across the globe with the opening of a new chapter in Mexico.

01 December 2021

Carillion directors claim disqualification proceeding is “oppressive”

Non-executive directors of collapsed construction company Carillion have told an English court that disqualification claims brought against them are “oppressive” and evidence submitted by the UK government is “ill-founded”.

30 November 2021

Norton Rose partner joins Ashurst in Sydney

Ashurst has recruited a partner from Norton Rose Fulbright in Sydney, who has experience advising on the restructurings of mining company Arrium and swimwear brand Seafolly.

29 November 2021

Former Patisserie Valerie administrators seek declaratory relief

UPDATED: Café chain Patisserie Valerie’s former KPMG administrators have asked a UK court to declare valid their decision to put the group into creditors’ voluntary liquidation in late 2019 without actually consulting all creditors, amid a costs dispute with FRP – the chain’s now-compulsory liquidators.

23 November 2021

AirAsia X creditors vote for initially contested scheme

Creditors of the Malaysian budget airline AirAsia X have voted in favour of what was a contested scheme of arrangement that imposes a more than 99% haircut on unsecured debts.

15 November 2021

Get unlimited access to all Global Restructuring Review content