Financial restructuring

Virgin Atlantic gets interim US recognition of UK proceedings

A New York court has granted interim relief for Virgin Atlantic, finding it had shown a “substantial likelihood” that its landmark UK restructuring plan would be recognised under Chapter 15.

10 August 2020

Crowell & Moring partner moves to Akerman in New York

Akerman has hired Crowell & Moring restructuring partner Mark Lichtenstein in New York.

10 August 2020

Travelex completes restructuring with pre-pack administration

London-headquartered foreign exchange company Travelex has completed its restructuring after joint administrators from PwC were brought in to sell some of the group’s UK entities to its senior secured noteholders.

07 August 2020

Pillsbury bolsters insolvency and restructuring practice in New York

US firm Pillsbury Winthrop Shaw Pittman has bolstered its insolvency and restructuring practice, hiring two veteran partners in New York.

06 August 2020

Seddons hires Brown Rudnick partner in London

London firm Seddons has recruited a partner from Brown Rudnick with credits on the cross-border restructurings of Arcapita, Lehman Brothers and Toys R Us.

05 August 2020

“Light-touch” JPLs appointed over Chinese fertiliser group in three jurisdictions

Courts in the Cayman Islands, Bermuda and the British Virgin Islands have appointed “light touch” joint provisional liquidators over Chinese fertiliser company Century Sunshine Group.

05 August 2020

Virgin Atlantic seeks Chapter 15 recognition of English proceedings

Hours after its successful convening hearing in the UK, Virgin Atlantic filed for Chapter 15 recognition of its English restructuring plan in New York.

05 August 2020

Addleshaw Goddard hires former Paul Hastings partner in London

Former Paul Hastings and Cadwalader Wickersham & Taft partner Karl Clowry has joined Addleshaw Goddard’s restructuring group in London.

04 August 2020

Skadden, Akin Gump and Milbank advising as Noble enters Chapter 11

London-headquartered offshore drilling contractor Noble Corporation has filed Chapter 11 proceedings in Texas, after entering a US$3.4 billion restructuring agreement with two ad hoc groups of its bondholders.

03 August 2020

US court approves Ann Taylor parent’s first-day motions

The parent company of women’s clothes retailer Ann Taylor has secured several first-day orders in its Chapter 11 proceedings in Virginia, with Kirkland & Ellis and Cooley advising.

30 July 2020

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