Distressed transactions

Airline roundup: LCWP acting for lessors in contentious AirAsiaX restructuring

Kuala Lumpur-based Lim Chee Wee Partnership is acting for leasing company BOC Aviation in its efforts to derail Malaysian airline AirAsia X's scheme of arrangement – while Indonesia’s Lion Air is facing a bankruptcy application and Japan’s ANA Holdings has announced a number of cost-cutting measures.

27 October 2020

Oil driller KCA Deutag allowed to convene English scheme meeting

A court in London has convened a single meeting of creditors for a scheme of arrangement restructuring US$1.9 billion of international oil and gas drilling company KCA Deutag's debt - after asking its counsel to be cautious of increasing work fees.

15 October 2020

Abu Dhabi court appoints Alvarez & Marsal as NMC Healthcare’s administrators

NMC Health’s UAE entities have been placed into administration in Abu Dhabi’s financial free zone, after successfully applying for protection against enforcement of debt claims this weekend.

28 September 2020

Germany announces draft restructuring law in line with EU directive

German lawyers have cautiously welcomed a preventative restructuring regime outlined in a long-awaited draft bill that they hope will enable company rescues outside of insolvency and stymie the flow of companies who have headed abroad.

24 September 2020

Dentons hires German restructuring head from Baker McKenzie

The former head of Baker McKenzie’s German restructuring practice has moved to Dentons in Berlin.

22 September 2020

Hyflux investor shares frustrations as JM hearing awaited

Stock exchange filings in Singapore reveal frustration between lawyers of a vehicle managed by Indonesian tycoon Johnny Widjaja that is a potential investor in Hyflux’s debt, and counsel to a group of banks trying to place Hyflux under judicial management.

17 September 2020

Transocean clears noteholder injunction challenge to debt exchange

Rejecting protests from noteholders, a New York court has given the Switzerland-incorporated offshore drilling contractor Transocean approval to continue with a disputed exchange offer to restructure US$2 billion of its US$9 billion debt pile.

07 September 2020

London advisory firm Avonhurst hires MoFo partner

One-year-old political strategy and legal advisory firm Avonhurst has hired a cross-border restructuring partner from Morrison & Foerster in London to join its growing team.

01 September 2020

Omni Bridgeway hires Morgan Lewis partner to focus on LatAm

Australian dispute finance firm Omni Bridgeway has appointed a new leader for its global distress-related litigation funding business in New York.

01 September 2020

Judge approves Pyxus Chapter 11 despite shareholder revolt

Simpson Thacher and Delaware’s Young Conaway Stargatt & Taylor have helped global tobacco-turned-hemp producer Pyxus get confirmation of its pre-packaged Chapter 11, after a revaluation request from wiped-out shareholders was waved off.

27 August 2020

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