Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

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German car parts manufacturer files for insolvency after investor feud

German car parts manufacturer files for insolvency after investor feud

08 July 2019

German car parts manufacturer Weber Automotive has filed insolvency proceedings after a disagreement between its family owners and French private equity investors about proposed rent reductions.

Coal terminal scheme approved in Australia

Coal terminal scheme approved in Australia

05 July 2019

An Australian court has approved a Queensland coal export terminal’s junior debt scheme of arrangement, tying up loose ends from a US$2.5 billion senior debt deal last year.

Brazilian food chain bankruptcy seeks chapter 15 recognition amid fraud claims

Brazilian food chain bankruptcy seeks chapter 15 recognition amid fraud claims

05 July 2019

A high-end Brazilian steakhouse chain, whose former executives have been accused of conspiring to defraud two public pension funds, is seeking recognition for its bankruptcy in New York.

Norton Rose failed to warn publisher of post-takeover debt liabilities, Hong Kong court finds

Norton Rose failed to warn publisher of post-takeover debt liabilities, Hong Kong court finds

05 July 2019

A Hong Kong court has ordered Norton Rose Fulbright to pay damages to a publisher it advised on a takeover of a bookshop facing bankruptcy, finding the firm failed to warn of a transfer of debt liabilities.

Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow

Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow

04 July 2019

Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.

Charles Russell Speechlys appoints new managing partner

Charles Russell Speechlys appoints new managing partner

04 July 2019

London-based restructuring and insolvency partner Simon Ridpath is to become Charles Russell Speechly’s new managing partner.

Goodwin hires Domenget Morin from White & Case

Goodwin hires Domenget Morin from White & Case

04 July 2019

GRR editorial board member and former White & Case partner Céline Domenget Morin has joined Goodwin’s Paris office, extending its financial restructuring practice to France.

New Look France enters liquidation with Linklaters advising

New Look France enters liquidation with Linklaters advising

03 July 2019

Linklaters is advising the French arm of global fashion retailer New Look as it enters liquidation, while an English subsidiary has exited Chapter 15 proceedings.

Rolf Rattunde 1957-2019

Rolf Rattunde 1957-2019

03 July 2019

Insolvency administrator Rolf Rattunde, a partner at Leonhardt Rattunde in Berlin and a pioneer of insolvency plans in Germany, has died unexpectedly at the age of 62.

Italian fashion brand Stefanel collapses in Italy and the UK

Italian fashion brand Stefanel collapses in Italy and the UK

03 July 2019

Italian womenswear brand Stefanel is in administration in Italy and the UK, with Raffaele Cappiello advising in Rome and CVR Global in London.

Steinhoff delays CVA completion again

Steinhoff delays CVA completion again

02 July 2019

Creditors of South African retail conglomerate Steinhoff have approved a third delay to the completion of its European subsidiaries’ UK restructuring, as the company brings litigation against its former chief executive.

Joint venture exclusion rights did not breach insolvency law, Hong Kong court finds

Joint venture exclusion rights did not breach insolvency law, Hong Kong court finds

02 July 2019

A Hong Kong court has allowed a construction company to exclude its joint venture partner from a government project, despite the partner’s provisional liquidators arguing the exclusion breached local insolvency law.