Financial restructuring

Texas court recognises Just Energy’s CCAA process

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

Hogan Lovells leads on €4.5 billion restructuring of French hotel operator

A long list of law and advisory firms have helped international hotel operator AccorInvest Group secure additional financing and complete a multi-jurisdictional restructuring of its €4.5 billion debt pile.

07 April 2021

Fried Frank continues growth with New York hire

Weeks after Mandip Englund joined its London restructuring group, Fried Frank has hired veteran Kasowitz Benson Torres partner Adam Shiff in New York.

06 April 2021

Virgin Active landlords need disclosure for cramdown arguments, English court says

The English High Court has published its reasons for allowing Virgin Active to hold plan meetings, explaining that it ordered the gym chain to give landlords extra information because it was relevant to a potential cross-class cramdown challenge.

01 April 2021

Light-touch – not soft-touch – PLs for African oil and gas group

Offering a rare glimpse into a cross-border insolvency in Africa, a Cayman court has appointed light-touch provisional liquidators over an oil and gas company finding its intention to restructure was there, despite its “precarious” negotiations being at an early stage and creditors in Kenya trying to stall a related Mauritian administration.

01 April 2021

Community roundup: Shearman & Sterling, Kroll, FTI Consulting and EY

Shearman & Sterling has continued its London expansion while FTI Consulting has strengthened its Madrid and Abu Dhabi offices, Kroll has promoted four new managing directors in the UK, and EY has hired in Bermuda.

01 April 2021

Shearman & Sterling adds London partner from Akin Gump

Shearman & Sterling is expanding in London two months after rehiring a former Lehman Brothers managing director to chair its New York financial restructuring and insolvency group.

31 March 2021

Saudi-owned telecoms group’s restructuring plan approved

Africa’s Smile Telecoms Holdings has had its UK restructuring plan sanctioned after a judge found it had fixed “the last piece of the jigsaw”: a third party whose exercise of a put option had given it the discretion on whether the plan came into effect.

30 March 2021

ABLI & INSOL: Is Singapore a good alternative for Indonesian companies?

Lawyers from Singapore and Indonesia compared the pros and cons of their jurisdictions for international restructurings featuring Indonesian companies, at a webinar organised by the Asian Business Law Institute and INSOL International.

30 March 2021

Virgin Active secures plan meetings

International gym chain Virgin Active has won an English court’s permission to hold meetings on restructuring plans that target its rent payments – but has been ordered to provide more information to disgruntled landlords.

29 March 2021

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