Administration

Australian report shows interdependency of Greensill administrations

Greensill’s Australian liquidators have said they can’t provide estimates on potential returns for its unsecured creditors, because they depend on future dividends in the UK and German administrations, among other factors.

22 July 2021

Hotel operator JJW’s winding up appeal blocked in Guernsey

A European hotel and leisure group’s holding company has been denied a second chance at appealing its compulsory winding up in Guernsey, despite arguing that the French judgment debt at the heart of its winding up had been overturned.

16 July 2021

Mazars to oversee liquidation of 21 Arcadia Group companies

Partner Adam Harris and director Guy Hollander from Mazars have been appointed as liquidators of 21 companies in British retail tycoon Philip Green’s Arcadia Group, following a slew of voluntary winding up resolutions.

14 July 2021

Reasons published for NMC Healthcare’s UK recognition

Sir Alastair Norris has released his reasons for recognising NMC Healthcare’s Abu Dhabi administrations as foreign main proceedings, and for imposing a moratorium to bind secured creditors.

01 July 2021

KPMG challenges proposed £15 million FRC fine over Silentnight pre-pack

KPMG and its now-retired partner David Costley-Wood should not face “overly punitive” £15.5 million fines and sanctions for their conduct in the “historic” pre-pack sale of bedmaker Silentnight, South Square’s Mark Phillips QC has told a Financial Reporting Council disciplinary tribunal.

22 June 2021

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

NMC Healthcare’s Abu Dhabi administrators secure English recognition

The Abu Dhabi General Market administrators of NMC Healthcare have secured recognition in England, with a London court finding the group’s insolvency proceedings constituted foreign main proceedings.

16 June 2021

Construction group winds down after Greensill collapse scuppers refinancing

A prefabricated construction company and former Greensill client with factories in the US, India and Saudi Arabia has entered Chapter 11 in Texas to sell off its assets and wind down, with the help of a US$35 million debtor-in-possession promissory note from a UK-based Softbank entity.

15 June 2021

Cut-off date set for Football Index customer dividends

Customers of the online gambling company Football Index will receive distributions based on dividends due at the time of its insolvency, following an English court ruling on the administration of its Jersey-based parent.

15 June 2021

NMC Healthcare announces creditor support for ADGM restructuring

NMC Healthcare’s administrators in Abu Dhabi’s financial free zone will press ahead with deeds of company arrangement for 35 of the group’s entities, after announcing creditor support this week.

09 June 2021

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