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Nevada-based cannabis producer Flower One has temporarily delisted its debentures in Canada so it can implement a restructuring; and struggling Canadian cannabis company CannTrust has secured an US$18 million credit facility in Ontario.
21 April 2021
Credit Suisse is facing a proposed class action in New York over allegations it hid defects in its risk policies so it could extend excessive leverage to scandal-hit trade finance provider Greensill and family office Archegos Capital – exposing it to billions of dollars of losses.
20 April 2021
Indonesian telecoms company Bakrie Telecom has secured Chapter 15 recognition of its Jakarta PKPU proceedings – but a New York court has declined to enforce its restructuring plan that contains third-party releases.
19 April 2021
Akin Gump has hired Weil Gotshal & Manges partner Clare Cottle in London – marking the third exit from Weil’s restructuring team since July.
16 April 2021
Spanish construction and engineering group Obrascón Huarte Laín has secured sanction of its English scheme of arrangement after the High Court found it would likely be recognised in foreign jurisdictions.
15 April 2021
UPDATED: A court in Western Australia has issued its reasons for allowing creditors to decide whether a Congolese-Australian miner’s delayed second meeting may be adjourned again, in the face of competing deed of company arrangement proposals from interested parties.
14 April 2021
An Oslo court has approved Norwegian Air’s restructuring plan after parallel schemes of arrangement were sanctioned in Ireland, paving the way for it to eliminate about US$3.6 billion of debt.
13 April 2021
Chilean car importer Automotores Gildemeister has commenced solicitation for a pre-packaged Chapter 11 process to reduce its debt by over US$200 million, after restructuring its senior notes in 2019 and 2016.
12 April 2021
The administrators of NMC Healthcare in Abu Dhabi’s financial free zone have obtained interim protection in the UK, blocking creditors from attaching sale proceeds they plan to place in a London bank account.
09 April 2021
A Texas bankruptcy court has granted full recognition to Canadian retail energy provider Just Energy’s CCAA proceedings, which were triggered by the unprecedented winter storms and skyrocketing electricity prices in Texas in February.
09 April 2021
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