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Debenhams CVA survives landlords’ challenge

Debenhams CVA survives landlords’ challenge

19 September 2019

Landlords challenging UK department store Debenhams’ company voluntary arrangement have failed on four out of five grounds, with the court preserving the CVA but ordering it to be amended where it blocks the landlords’ right to forfeiture.

French Nortel arm to end administration amid Brexit concerns

French Nortel arm to end administration amid Brexit concerns

19 September 2019

One of the French arms of Nortel Networks is set to end its decade-long administration, after the High Court of England and Wales granted a termination and discharge application.

Madoff feeder fund settlement approved in BVI

Madoff feeder fund settlement approved in BVI

19 September 2019

A “monumental” US$860 million clawback settlement, between the liquidating trustee of Bernard Madoff’s investment firm and the liquidators of two British Virgin Islands feeder funds, is a step closer to approval after being signed off by a BVI court.

Ogier litigator Jennifer Fox promoted to partner in Cayman

Ogier litigator Jennifer Fox promoted to partner in Cayman

18 September 2019

Ogier litigator Jennifer Fox, who worked on the contentious liquidations of Madoff feeder fund Fairfield Sentry and the Saudi conglomerate Saad, has been promoted to partner in the firm’s Cayman Islands dispute resolution group.

Retired Delaware judge Kevin Carey heads to Hogan Lovells

Retired Delaware judge Kevin Carey heads to Hogan Lovells

18 September 2019

Former Delaware bankruptcy judge Kevin Carey is heading to Hogan Lovells following his retirement from the bench.

Quinn Emanuel advising on potential Folli Follie bondholder lawsuit

Quinn Emanuel advising on potential Folli Follie bondholder lawsuit

18 September 2019

Quinn Emanuel Urquhart & Sullivan is advising a UK-based service company on a proposed lawsuit against Swiss bank UBS, on behalf of bondholders of the beleaguered Greek jeweller Folli Follie.

Thomas Cook seeks non-main recognition of English schemes in New York

Thomas Cook seeks non-main recognition of English schemes in New York

18 September 2019

The British travel group Thomas Cook is seeking recognition of three English schemes of arrangement in New York – but as non-main proceedings to avoid an automatic stay in the US.

Reliance unit enters Chapter 11 with Paul Hastings advising

Reliance unit enters Chapter 11 with Paul Hastings advising

17 September 2019

A US unit of stricken Indian telecoms group Reliance Communications has submitted a pre-pack plan to a Chapter 11 court in Delaware, with Paul Hastings advising.

English court gives Saudi prince control of Sheffield United FC

English court gives Saudi prince control of Sheffield United FC

17 September 2019

A Saudi prince has won full control over football club Sheffield United, with the English High Court rejecting “fanciful” allegations that he took a bribe from a broadcasting company to save the club from insolvency.

Asset recovery column: Globalisation catches up with the US insolvency courts

Asset recovery column: Globalisation catches up with the US insolvency courts

17 September 2019

Shareholder Leyza Blanco and attorney Christopher Noel from Sequor Law in Miami discuss recent developments in coordination and communication between courts handling cross-border insolvencies.

Cayman court upholds unusual reporting obligation for Chinese cement maker

Cayman court upholds unusual reporting obligation for Chinese cement maker

16 September 2019

A Cayman court has partially upheld an unusual reporting obligation owed by cement maker China Shanshui to a shareholder that has been pursuing a winding-up petition against it for a year.

BTG Advisory gains four new partners in London

BTG Advisory gains four new partners in London

16 September 2019

The boutique advisory arm of UK professional services firm Begbies Traynor has appointed four new partners, including new hires with debt restructuring experience from Menzies and CameronBarney.