Multinational corporate groups

Valaris completes restructuring with UK administration

Two months after a Texas court confirmed its Chapter 11 plan, UK-incorporated offshore drilling contractor Valaris has completed a US$7.1 billion restructuring through a complementary pre-pack administration sale in the UK.

04 May 2021

Weil loses third restructuring partner in London

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

English scheme sanctioned for Spanish construction group

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

Abu Dhabi-based NMC Healthcare secures interim English protection

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

English court sanctions gategroup restructuring plan

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

Spanish construction group wins English scheme meeting citing Gibbs

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

Avianca secures milestone court orders in New York

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

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

Takata trustee avoids service under the Hague Convention

The trustee of a compensation trust set up as part of Takata’s Chapter 11 plan has been allowed to serve an adversary proceeding on a Japanese insurance company’s US counsel, after a Delaware court found the costs of complying with the Hague Convention for service overseas would reduce funds available to victims of its faulty airbags.

25 February 2021

Faegre Drinker continues rapid growth with US hires

Robins Kaplan’s Los Angeles-based restructuring chair and a Foley & Lardner partner in New York have become the latest additions to Faegre Drinker Biddle & Reath’s fast-expanding restructuring group.

22 February 2021

Get unlimited access to all Global Restructuring Review content