Financial restructuring

Norwegian Air files plans in Dublin and Oslo, seeks US recognition

Oslo-listed Norwegian Air and one of its Irish subsidiaries are seeking Chapter 15 protection for their US assets while the group's creditors are set to vote on restructuring plans filed in Dublin and Oslo last week.

15 March 2021

Virgin Active secures stay on landlord claim pending UK restructuring plans

A British landlord has been blocked from suing gym chain Virgin Active while it pursues three UK restructuring plans targeting its rent payments as part of a “holistic” restructuring of its European and Asian operations.

12 March 2021

Mayer Brown adds partner from Proskauer in New York

Mayer Brown has continued its transatlantic hiring spree with the addition of partner Lucy Kweskin from Proskauer in New York.

11 March 2021

Global menswear retailer seeks light touch restructuring in Bermuda

Hong Kong-listed premium menswear retailer Trinity has applied to appoint light touch joint provisional liquidators in Bermuda, three months after Standard Chartered Bank filed winding up petitions against it.

10 March 2021

McDermott strengthens practice in Atlanta

McDermott Will & Emery has hired former DLA Piper partner Daniel Simon for its restructuring and insolvency practice in Atlanta.

08 March 2021

Court strikes down final challenge to COFINA restructuring

A US appeals court has struck down as equitably moot the last outstanding legal challenge to the Puerto Rico Sales Tax Financing Corporation’s specialist Title III restructuring, two years after its plan was approved.

08 March 2021

Valaris rescue plan confirmed

UK-incorporated offshore drilling contractor Valaris has had its Chapter 11 restructuring plan confirmed, after a Texas court overruled a shareholder’s objection and the company resolved other challenges.

04 March 2021

The taper begins, seat belts fastened and no tantrums please!

Freshfields Bruckhaus Deringer’s London head of restructuring Richard Tett, partner Lindsay Hingston and associates Kevin Connolly and Nicholas Cooper give their take on the just-announced UK government’s budget. Though the UK economy is widely expected to be one of the worst-hit from covid, they argue that the tapering of government support measures should help soften the blow – and hopefully avoid a 2013-style “taper tantrum”.

03 March 2021

New firm Kepler-Karst adds London university professor as counsel

Recently established Spanish insolvency boutique Kepler-Karst has hired sovereign debt expert Professor Rodrigo Olivares-Caminal, chair of banking and finance law at Queen Mary University of London, as counsel.

03 March 2021

Thai Airways submits plan but creditors yet to see it

Thai Airways’ rehabilitation planners have submitted a restructuring plan before a Bangkok court as well as the country’s official receiver and its stock exchange managers, but creditors’ counsel say their clients are yet to see its contents.

02 March 2021

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