Debt for equity swap

Chilean car importer completes Chapter 11 restructuring

International noteholders of Chilean car importer Automotores Gildemeister have completed a debt-for-equity takeover of the company through a pre-packaged Chapter 11 plan approved in New York.

17 August 2021

The rise in debt for equity swaps structured through Jersey

Partner Bruce MacNeil and managing associate James Lydeard at Ogier observe what makes the use of Jersey-incorporated acquisition and holding vehicles attractive for international restructuring transactions featuring debt for equity swaps, amid the emergence of a growing trend.

26 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

Abengoa enters insolvency in Spain

Spanish and international firms are gearing up for what could be Spain’s biggest insolvency to date, after industrial conglomerate Abengoa’s top holding company filed a voluntary petition on Monday.

24 February 2021

Pyxus cannabis subsidiaries enter CCAA as iAnthus restructuring upheld

Global tobacco company Pyxus has secured CCAA protection for its cannabis subsidiaries after exiting Chapter 11, while New York-based cannabis company iAnthus has seen off an appeal against its Canadian restructuring.

05 February 2021

Alita DOCA temporarily blocked over mine sale

The administrators of Singapore-listed lithium miner Alita Resources have been blocked from effectuating a deed of company arrangement, pending a dispute over a sale process they oversaw for a mothballed mine in Western Australia.

07 January 2021

Opposing creditors withdraw objections as Swissport seeks scheme sanctioning

An ad hoc group of Swissport’s senior unsecured noteholders has dropped its challenges to the Chinese-owned aviation group’s English scheme, just as the sanction hearing was due to start.

10 December 2020

Norwegian Air wins bankruptcy protection in Norway

Norwegian Air has entered a formal restructuring process in Norway to run parallel to its Irish examinership, and announced an agreement to convert over €7 million of debt into equity.

09 December 2020

Norwegian Air announces new restructuring plans

Two weeks after it sought bankruptcy protection in Ireland, Oslo-headquartered Norwegian Air has laid out plans to pursue debt-for-equity swaps with several groups of creditors.

04 December 2020

Brazilian senate approves long-awaited law

Brazil’s senate has approved a long-tabled bankruptcy law, which is set to introduce cross-border provisions based on the UNCITRAL Model Law to the country’s regime.

27 November 2020

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