Financial restructuring

Faegre Drinker continues rapid growth with US hires

Robins Kaplan’s Los Angeles-based restructuring chair and a Foley & Lardner partner in New York have become the latest additions to Faegre Drinker Biddle & Reath’s fast-expanding restructuring group.

22 February 2021

Bryan Cave Leighton Paisner hires from Brown Rudnick

Bryan Cave Leighton Paisner has hired Brown Rudnick partner Didier Bruère-Dawson to help expand its offering in Paris.

22 February 2021

Malaysia Airlines scheme sanctioned with unanimous support

Malaysia Airlines has secured sanction of its English scheme after earning the unanimous backing of all applicable creditors, allowing the High Court to avoid deciding whether the scheme amounted to an “insolvency-related event” under the Cape Town Convention.

22 February 2021

Saudi-owned African telecoms group seals UK plan meetings

A pan-African telecoms group that shifted its COMI from Mauritius to England in January has filed restructuring plan proceedings in London to secure new money to tide it over while it completes a sales process.

19 February 2021

Pay attention to the Pension Schemes Act, UK lawyers warn

“It’s really important for anyone working in the distressed space to get up to speed with this now,” one London lawyer said after the UK’s Pension Schemes Act received Royal Assent last week. GRR gathers reactions to significant changes that will affect the restructuring landscape – including the Act's introduction of new criminal offences and substantial civil penalties.

18 February 2021

Baker Botts hires in Houston

Texas-headquartered Baker Botts has strengthened its Houston team with the hire of a partner from Greenberg Traurig.

18 February 2021

Lugano bankruptcy exclusion applies to UK restructuring plans, English court rules

One avenue for recognition of some English restructurings in Europe may have been lost after the High Court ruled that the UK’s new restructuring plan is an insolvency proceeding for the purposes of the Lugano Convention’s bankruptcy exclusion.

17 February 2021

Oi sells mobile division to Claro, Telefónica and TIM

Brazil’s BMA - Barbosa, Müssnich, Aragão has helped telecoms group Oi sell its mobile business to local subsidiaries of Claro, Telefónica and TIM – one of a series of assets sales envisaged as part of its judicial reorganisation plan.

17 February 2021

KrisEnergy finalises restructuring in Singapore

Cayman-incorporated oil and gas company KrisEnergy has completed its restructuring in Singapore, two weeks after its scheme was sanctioned with amendments over the reach of a moratorium clause.

16 February 2021

Centerbridge withdraws Dutch proceedings after reaching Steinhoff agreement

A US investor linked to Centerbridge Partners has agreed to withdraw its application to appoint a Dutch restructuring expert over South African conglomerate Steinhoff, while the group’s former auditor Deloitte has pledged €70 million to support a global settlement of litigation claims.

15 February 2021

Get unlimited access to all Global Restructuring Review content