Financial restructuring

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

Singapore court appoints RSM Advisory as energy services group enters JM

A Singaporean court has placed oil and gas services provider Hiap Seng Engineering and its subsidiary HS Compression & Process in judicial management, confirming the appointments of two RSM Advisory partners.

16 September 2020

New York court rejects LATAM DIP financing

A New York court has rejected a US$2.4 billion debtor-in-possession loan secured by Chile's LATAM from its shareholders, finding it had the effect of forcing an equity swap in a future restructuring.

15 September 2020

K&L Gates recruits finance partner in Sydney

K&L Gates has recruited the former head of Hogan Lovell’s finance department as a partner in Sydney.

11 September 2020

IBA webinar: LatAm airline Chapter 11s, forum shopping or sound strategy?

Specialists from the US, Brazil, Chile and Mexico met to discuss the allure of the Chapter 11 process for Latin American’s three largest airlines, Avianca, LATAM and Aeroméxico, as well as the potential pitfalls of forum shopping.

10 September 2020

UK dining chain PizzaExpress launches second UK plan plus CVA

Kirkland & Ellis is advising British casual dining chain PizzaExpress as it becomes the second company to file a restructuring plan under the new Part 26A of the UK Companies Act, and also launches a company voluntary arrangement.

10 September 2020

IWG’s Canadian arms win creditor protection

The Canadian arms of Swiss-headquartered office space provider International Workplace Group (IWG) have won interim CCAA protection, after concerns that Chapter 11 proceedings filed by the group last month may have led to a technical default on several of its Canadian leases.

08 September 2020

First times for Virgin in courts

In Virgin Australia's insolvency, a federal court has issued the first ruling on an administrator’s obligation to “give possession” under the Cape Town Convention, as creditors approved its sale to Bain Capital; meanwhile, Virgin Atlantic received the first Chapter 15 recognition of a new English restructuring plan.

04 September 2020

Retired judge to mediate Thai bankruptcy dispute in grocer’s Chapter 11

Retired Delaware judge Kevin Carey has been appointed to mediate in Thai-owned gourmet retailer Dean & DeLuca’s Chapter 11 proceedings, following creditor allegations the US bankruptcy was only filed to benefit its parent’s reorganisation in Thailand.

04 September 2020

Katten bolsters practice in Chicago and Dallas

Katten Muchin Rosenman has expanded in Chicago and Dallas, hiring the co-chair of Fox Rothschild’s bankruptcy litigation practice, and a partner from Akerman.

03 September 2020

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