Financial restructuring
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
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 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
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