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Bumble Bee sale approved in Delaware

Bumble Bee sale approved in Delaware

24 January 2020

A Delaware court has approved a US$925.6 million Chapter 11 asset sale for tinned seafood maker Bumble Bee Foods.

BVI court slams Swiss bankruptcy administrator

BVI court slams Swiss bankruptcy administrator

24 January 2020

A British Virgin Islands judge has suggested that a Swiss bankruptcy administrator behaved inappropriately by allegedly refusing to accept service of an application to appoint liquidators over a Swiss holding company.

Gibson Dunn advising interior designer on Singapore and Malaysia proceedings

Gibson Dunn advising interior designer on Singapore and Malaysia proceedings

23 January 2020

Interior design company Design Studio Group has filed for restructuring proceedings in Malaysia and its native Singapore, with Gibson Dunn & Crutcher and three regional firms advising.

Lecta noteholders approve scheme in London

Lecta noteholders approve scheme in London

23 January 2020

Creditors of global paper manufacturer Lecta have voted to approve a scheme proposed by its English subsidiary in London.

A&M appoints former KPMG director to head new European debt practice

A&M appoints former KPMG director to head new European debt practice

22 January 2020

Global advisory firm Alvarez & Marsal has announced plans to open a new European debt advisory practice.

Oilfield company engineers pre-pack in Texas

Oilfield company engineers pre-pack in Texas

22 January 2020

Panama-incorporated engineering giant McDermott International has filed pre-packaged Chapter 11 proceedings in Texas, with a plan it says will eliminate over US$4.6 billion of debt.

Spain Worked Out: The highs and lows of homologation

Spain Worked Out: The highs and lows of homologation

21 January 2020

Spain had no pre-petition restructuring tool until 2009. Its first attempt to create one was rather limited. The legislation wasn’t clear on the requirements for the petition itself, and Spanish courts construed it in very different ways, with some interpreting it as granting a temporary moratorium during which the debtor could attempt to strike a deal, but after which it would still be required to enter insolvency proceedings at the end.

DLA Piper advising as UK department store Beales collapses

DLA Piper advising as UK department store Beales collapses

21 January 2020

DLA Piper is acting for KPMG as joint administrators of UK department store Beales, which has become the latest victim of the “tough” retail climate.

Doncasters Group seeks recognition in Delaware

Doncasters Group seeks recognition in Delaware

21 January 2020

Three days after the High Court in London convened a pair of scheme meetings for its first- and second-lien lenders, Dubai-owned alloy manufacturer Doncasters Group has filed Chapter 15 proceedings in Delaware.

Payless puts best foot forward after second Chapter 11

Payless puts best foot forward after second Chapter 11

20 January 2020

Global discount footwear retailer Payless ShoeSource has emerged from its second Chapter 11 bankruptcy in three years.

English court finds jurisdiction over Gibraltarian companies under EIR

English court finds jurisdiction over Gibraltarian companies under EIR

20 January 2020

An English court has found that both European and domestic insolvency laws allow it to place Gibraltar-incorporated companies into insolvency proceedings, even if their centre of main interests lie in Gibraltar rather than the UK.

Cayman fund seeks protection in New York amid SEC complaint

Cayman fund seeks protection in New York amid SEC complaint

20 January 2020

A Cayman Islands fund is seeking US recognition of its Cayman liquidation, as the US Securities and Exchange Commission investigates allegations that its investment adviser orchestrated a “wide-ranging fraudulent scheme”.