Administration

Administration moratorium has extraterritorial effect, Australian court rules

A BVI court has blocked the enforcement of a deed held by a local arm of Harneys, after an Australian judge found it was subject to an Australian administration moratorium that has effect in foreign jurisdictions.

26 February 2021

Australian voluntary administrators to serve claim on Harneys in BVI

In separate actions in Australia, the voluntary administrators of a Congolese gold mine owner have secured permission to serve a security interest claim on a Harneys arm in the BVI, while a Queensland court is to consider recognising a Singaporean personal bankruptcy.

23 February 2021

Weil’s Adam Plainer to move to Dechert

Weil’s London practice co-head Adam Plainer is leaving to join Dechert as global co-chair of its financial restructuring group, with the firm stating an aim to build a joined-up EMEA and US practice in the service of fund clients.

17 February 2021

Community roundup: Quantuma, Duff & Phelps, Roland Berger, FTI Consulting, Consignum and CTF Consultancy

Quantuma and Duff & Phelps have hired in London, while Germany’s Roland Berger and Consignum have expanded across the country, and FTI Consulting has promoted a new head of corporate finance and restructuring in Asia: meanwhile, a new Norway/UK boutique has opened in Oslo.

12 February 2021

New Middle East restructuring head for Alvarez & Marsal

Alvarez & Marsal has appointed the interim CFO of struggling hospital operator NMC Healthcare to lead its Middle East restructuring practice in Dubai.

11 February 2021

Dormant insurer secures English schemes for decades-old claims

The administrators of a long-inactive UK insurance company have obtained an English court’s approval of two schemes of arrangement, allowing them to deal with historic claims held by creditors around the world.

10 February 2021

Heads-Up: Khurshid Fazel at Webber Wentzel in South Africa

Featured in Heads-Up

“There's a lot of dry capital sitting there waiting to be used”. Head of Webber Wentzel’s restructuring and insolvency team Khurshid Fazel tells GRR about opportunities in the distressed M&A space in Africa, how her views on globalisation have changed, and why she thinks firms that commoditise parts of their offering are going to get an edge in the future.

05 February 2021

Ex-Debenhams topco wound-up as stores set to close

Debenhams’ old top company is set to be wound-up following a court hearing, while the administrators of the retailer’s current operating arms have confirmed the sale of its brand name and the closure of its stores.

25 January 2021

Community roundup: hires at Simmons, Dentons and Hunton Andrews Kurth, as Begbies Traynor acquisition launches it offshore

Simmons & Simmons, Dentons and Hunton Andrews Kurth have hired in London, Portland in Maine and Bangkok respectively; while Begbies Traynor has acquired insolvency advisory group CVR Global, adding its first overseas offices.

18 January 2021

Lehman administrators seek directions on “continuing” events of default under ISDA

The administrators of Lehman Brothers’ European arm have sought directions on when events of default cease to continue under the International Swaps and Derivatives Association’s Master Agreement, in circumstances where two aerospace manufacturers have been using them to avoid paying out on interest rate swaps for over a decade.

15 January 2021

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