Company voluntary arrangement

Kirkland makes rare US lateral hire

Kirkland & Ellis's restructuring practice has made its first lateral hire in the US for more than a decade, taking a partner from Skadden Arps Slate Meagher & Flom.

06 April 2021

Regis hearing brings close to month-long CVA trials

Counsel to the landlords who have been challenging retailer New Look and defunct hairdressing chain Regis’ company voluntary arrangements throughout the last month have met lawyers for Regis’ CVA nominees in court one last time.

29 March 2021

New Look trial set to run to sixth day

New Look and its landlords have tussled over arguments on jurisdiction, voting, disclosure and unfair prejudice in a trial challenging the high street retailer’s company voluntary arrangement, which has lasted five days so far and is set to continue tomorrow.

23 March 2021

Extension of commercial forfeiture moratorium – unlikely to turn the tide?

While the government has extended its protections for commercial tenants once more, partner Roger Schofield, counsel Katharina Crinson and associate Nicholas Cooper at Freshfields Bruckhaus Deringer in London say it’s a matter of “when” not “if” the UK will see more CVAs – and potentially restructuring plans – targeting rental obligations.

18 March 2021

New Look CVA trial opens with focus on differential treatment

New Look’s “ambitious” company voluntary arrangement seeks to adjust landlords’ rights on a permanent basis and is not a “normal” retail CVA, counsel to landlords of the fashion chain have told a court as they opened a six-day trial with points on differential treatment and fairness.

17 March 2021

Regis CVA trial continues as fairness amendment rejected

Landlords challenging the defunct Regis CVA will not get a chance to argue that it’s unfair for uncompromised creditors to bind compromised creditors, after the High Court in London found a late request to amend their particulars of claim was an attempt at a second bite of the cherry.

05 March 2021

Regis CVA challenge kicks off in UK

Lawyers acting for landlords of UK hairdressing chain Regis have told the High Court that the CVA it launched in 2018 was “a million miles away from what was envisaged” when the tool was conceived 40 years ago.

03 March 2021

Property lobby complains of CVA “abuse” as landlords challenge Caffè Nero

A British property organisation has urged the UK government to overhaul company voluntary arrangements, as Kirkland & Ellis was revealed to be advising on a challenge to British coffee chain Caffè Nero’s use of the procedure.

08 January 2021

Landlords to challenge New Look CVA in expedited case with wider implications

Four landlords are set to bring an expedited challenge against fashion retailer New Look’s company voluntary arrangement, the outcome of which will have important implications for UK companies and commercial trading, an insolvency judge said today.

02 December 2020

Centerbridge-linked funds set to challenge Steinhoff’s UK scheme

South African retail conglomerate Steinhoff has won court approval to convene two meetings for creditors to vote on its latest English scheme of arrangement – but funds controlled by distressed investor Centerbridge Partners are preparing to oppose it.

26 November 2020

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