Financial restructuring

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm that is facing over €12 billion worth of claims.

19 November 2020

Alston & Bird hires first restructuring partner in London

After over two decades at Sidley Austin, Phillip Taylor has joined Alston & Bird as its first London-based restructuring partner.

18 November 2020

Borrelli Walsh appointed as Hyflux enters judicial management

After a two-and-a-half year restructuring saga, struggling Singaporean utility Hyflux has been placed into judicial management with immediate effect.

16 November 2020

Cryptocurrency investment firm wins Chapter 11 relief amid fraud allegations

Cryptocurrency investment firm Cred Inc has secured Chapter 11 relief in Delaware, after a former executive allegedly misappropriated US$3 million worth of its bitcoin and caused it to lose US$10 million through a fraudulent investment scheme.

13 November 2020

Barcelona court approves Spain’s first pre-pack

Insolvency lawyers in Spain have welcomed a Barcelona court’s decision to allow two language schools to negotiate a sale of their assets before filing for bankruptcy, marking the country's first pre-pack.

12 November 2020

B Riley opens in Mexico

B Riley Advisory Services, which formally completed a merger with turnaround firm GlassRatner this year, has opened a new office in Mexico in partnership with Brazil’s TCP Partners.

12 November 2020

Bowmans adds Webber Wentzel banking partner in South Africa

South African law firm Bowmans has hired a former Webber Wentzel banking partner with almost two decades of debt restructuring experience.

11 November 2020

Swissport secures second convening hearing as unsecured group continues to circle

Chinese-owned aviation services group Swissport has secured a convening hearing for certain creditors to vote on its second English scheme in five months, while a dissatisfied group of senior unsecured noteholders has floated several objections.

10 November 2020

Flöther appointed Sundair trustee as another airline comes down with covid-19

Charter airline Sundair has entered protective shield proceedings in Germany, where the court has appointed Lucas Flöther as provisional trustee and a host of counsel have come on board.

09 November 2020

New restructuring co-chair for Schulte Roth & Zabel

Schulte Roth & Zabel has hired a new co-head for its business reorganisation group, who says he is going to help build the firm’s fund relationships and continue to grow its debtor-side practice.

06 November 2020

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