Financial restructuring

Borrelli Walsh’s Singapore restructuring head fails to overturn directorship ban

The Singapore Court of Appeal has upheld a directorship disqualification for Jason Kardachi, leader of Borrelli Walsh’s restructuring practice in south-east Asia, after the Registrar of Companies struck off four companies he had been appointed to restructure.

25 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

Should Jersey have a corporate rescue regime?

Partner Stephen Alexander and associate Max Galt at Mourant in Jersey set out why a traditionally creditor-friendly offshore jurisdiction like Jersey, with its commercially minded and flexible Royal Court, would still benefit from introducing a statutory reorganisation process.

24 September 2020

Shearman and Bennett Jones advise as power plant builder enters RSA

Sherman & Sterling and Bennett Jones have helped an Argentina-headquartered power plant producer enter a restructuring deal with an ad hoc group of noteholders, to be implemented under the Canada Business Corporations Act.

24 September 2020

New Look to hold creditor vote on latest English scheme

A week after creditors backed its latest CVA, an English court has given UK retailer New Look permission to convene a single-class creditors’ meeting on an inter-conditional scheme of arrangement and seek recognition in the US.

23 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

Hong Kong appeal court rejects US letters of request on “fishing” grounds

A private equity firm has failed to compel testimony from two distressed investors in Hong Kong over an aborted restructuring, after Hong Kong’s Court of Appeal said its effort - backed by US letters of request - amounted to a fishing exercise.

18 September 2020

Ogier hires from NautaDutilh in Luxembourg

Offshore firm Ogier has appointed a former NautaDutilh partner in New York to its Luxembourg banking and finance team.

18 September 2020

US and Dutch courts approve HEMA’s English scheme restructuring

Low price homeware retailer HEMA’s restructuring through English, US and Dutch courts is a “perfect example” of how European brands with complex capital structures can restructure with minimal fallout, lawyers working on the case have told GRR – but it may be the last scheme of its kind.

17 September 2020

US law bondholder group backs French manufacturer’s restructuring

A group that holds US law-governed bonds issued by the Paris-based manufacturer Vallourec will support its request to a French court for the appointment of a restructuring professional to help mediate with stakeholders on a refinancing, White & Case has told GRR.

16 September 2020

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