News

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

EU bailout fund to get greater powers over bank rescues

European finance ministers have agreed to a long-awaited reform of the EU’s bailout fund, giving it greater powers over future bailout programs and introducing single-limb collective action clauses to override holdout bondholders.

04 December 2020

Dean & DeLuca brings avoidance claim against former Japanese JV partner

A Delaware-registered arm of bankrupt Thai-owned upmarket grocer Dean & DeLuca has filed an adversary claim in New York against its former Japanese joint venture partner and an affiliate, arguing they took advantage of the grocer’s insolvency to buy shares at a steep discount.

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

Gibson Dunn & Crutcher hires again from Jones Day

Gibson Dunn & Crutcher has recruited a partner from Jones Day in New York, reuniting him with several former colleagues.

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

Landlords to challenge New Look CVA in expedited case with wider implications

Four landlords are set to bring an expedited challenge against fashion retailer New Look’s company voluntary arrangement, the outcome of which will have important implications for UK companies and commercial trading, an insolvency judge said today.

02 December 2020

Ropes & Gray hires second Kirkland partner in London

Kirkland & Ellis special situations partner Samuel Norris has moved to Ropes & Gray in London – six months after restructuring partner Matt Czyzyk made the same move.

02 December 2020

Sanction adjourned for Sunbird’s second scheme

An English court has adjourned a second scheme sanctioning hearing for flexible workplace provider Sunbird, to allow the company to respond to objections lodged by an opposing creditor.

02 December 2020

Duff & Phelps expands global reach with Borrelli Walsh acquisition

International advisory firm Duff & Phelps has announced it is buying Asia and Caribbean restructuring and asset recovery specialists Borrelli Walsh, in a deal set to be completed by mid-December.

02 December 2020

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