Financial restructuring

Swiss airlines services provider gategroup has secured sanction of its UK restructuring plan after adding an additional provision to help ensure it is effective in Switzerland.

26 March 2021

Lawyers for Virgin Active have said the gym chain will probably have to rely on cross-class cramdown provisions to implement three proposed UK restructuring plans that target its rent payments, after landlords and other creditors raised concerns at a High Court hearing.

25 March 2021

The Spanish arm of Fieldfisher has started to rebuild its restructuring group with hires in Madrid and Barcelona, after its long-time practice leader Agustí Bou joined BDO earlier this month with a six-person team.

25 March 2021

China’s Luckin Coffee has secured US recognition of its Cayman liquidation – but a New York court has asked for more information before it decides the scope of further Chapter 15 relief, in light of objections lodged over a stay on claims against non-debtor parties.

24 March 2021

UPDATED: A pan-African telecoms group’s UK restructuring plan sanction hearing has been adjourned, after a court found that the sole dissenting creditor had the discretion on whether the plan would come into effect.

19 March 2021

UK restructuring plans have been sanctioned in Scotland for the first time, clearing the way for London-headquartered oil and gas producer Premier Oil to complete a merger with North Sea exploration and production company Chrysaor.

19 March 2021

The Spain-incorporated holding company for an international construction and engineering group has secured a scheme meeting in London after failing to make €15.1 million of coupon payments on two sets of notes earlier this week.

18 March 2021

Magic Circle firm Linklaters has hired two partners from White & Case and Kirkland & Ellis in Hong Kong, as the firm says it plans to strengthen its focus on funds in Asia.

18 March 2021

Latin American airline Avianca has reached two major milestones in its restructuring after settling disputes relating to a pre-petition sale of credit card receivables and getting the green light to enter new aircraft leases to redevelop its fleet.

17 March 2021

Featured in Heads-Up

A few months after taking over as Piper Sandler’s global head of restructuring, veteran Wall Street banker Todd Snyder speaks to GRR about a potential boom in infrastructure investment, why sub-Saharan Africa is a likely place for new investment activity and his “almost religious” belief in the importance of restructuring to the good functioning of the free market.

15 March 2021