Financial restructuring

Ogier adds new partners in Hong Kong and Guernsey

Offshore firm Ogier has boosted its global restructuring offering with the appointment of three news partners in Hong Kong and Guernsey.

14 December 2020

Corporate failures – can the UK’s financial regulator lead the charge?

Following news that the UK’s Financial Conduct Authority is planning to take action against collapsed construction giant Carillion and some of its former directors, Signature Litigation partners Abdulali Jiwaji and Paul Brehony and professional support lawyer Johnny Shearman examine the conflict between the UK’s financial regulatory regime and its insolvency legislation.

11 December 2020

Opposing creditors withdraw objections as Swissport seeks scheme sanctioning

An ad hoc group of Swissport’s senior unsecured noteholders has dropped its challenges to the Chinese-owned aviation group’s English scheme, just as the sanction hearing was due to start.

10 December 2020

Norwegian Air wins bankruptcy protection in Norway

Norwegian Air has entered a formal restructuring process in Norway to run parallel to its Irish examinership, and announced an agreement to convert over €7 million of debt into equity.

09 December 2020

IWIRC launches Korea network

The International Women’s Insolvency & Restructuring Confederation has launched a new network in Korea, led by AlixPartners director Jungmin Lee and Alvarez & Marsal manager Jiwon Nam.

08 December 2020

VTB secures winding-up order against Hong Kong company

The Swiss branch of Ireland-registered VTB Commodities Trading has won a winding-up order against a Hong Kong company that owes it substantial US dollar and Euro denominated debts.

08 December 2020

Former Steinhoff CRO Heis returns to KPMG

KPMG’s former global head of restructuring Richard Heis has returned to the Big Four firm, three years after he retired from its partnership.

07 December 2020

Norwegian Air announces new restructuring plans

Two weeks after it sought bankruptcy protection in Ireland, Oslo-headquartered Norwegian Air has laid out plans to pursue debt-for-equity swaps with several groups of creditors.

04 December 2020

Kirkland, Jackson Walker and Sheppard Mullin advising on Seadrill Ch11s

London-based offshore driller Seadrill Partners and 28 of its international subsidiaries have filed Chapter 11 proceedings in Texas, citing Bermuda-incorporated Seadrill Ltd, which itself went through bankruptcy two years ago, as their largest unsecured creditor.

03 December 2020

Baker McKenzie establishes new restructuring team in Frankfurt

Baker McKenzie has set up a new restructuring team in Frankfurt, bringing in lawyers from Clifford Chance and CMS.

03 December 2020

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