News
Akin Gump partner joins Eversheds in US
Eversheds Sutherland has hired a partner from Akin Gump, who brings with her experience advising institutional investors in US, Australian and cross-border debt finance and financial restructuring cases.
10 July 2023
Alpine blames ESG initiatives as it files Ch11s in Texas
Nashville-based oil and gas company Alpine Summit Energy Partners has sought bankruptcy protection in Texas, citing the increasing difficultly of finding funding for projects in the sector, as it faces objections to a US$15.5 million debtor-in-possession facility agreed with its bank lenders.
07 July 2023
Crypto exchange AAX’s Cayman liquidators and Singaporean JM secure US recognition
A cryptocurrency exchange’s Cayman provisional liquidation and its Singaporean interim judicial management process have both been recognised as foreign main proceedings in a single decision in Florida.
07 July 2023
Kirkland advising as Belgian bakery chain enters UK administration again
The UK arm of Belgian bakery chain Le Pain Quotidien has appointed administrators from Kroll and announced plans to shut nearly all its English locations, three years after its UK operations were sold in another pre-pack administration.
06 July 2023
Casino reveals rescue bids as shareholders set to be wiped out
French supermarket group Casino is considering two rescue bids that it said will “massively” dilute shareholders’ equity as its conciliation proceedings continue in Paris.
06 July 2023
Saint Vincent liquidators secure third-party funding order
The liquidators of an investment holding company in Saint Vincent and the Grenadines have secured court approval to draw down on a funding agreement with one of its Malta-based creditors to fund its liquidation.
06 July 2023
UK tax authority crammed down as Prezzo secures English restructuring plan
The High Court in London has departed from the approach to jurisdiction it has long followed in the context of English schemes and approved casual dining chain Prezzo’s restructuring plan, in a "highly significant" decision that crams down the UK tax authority.
05 July 2023
Dissenting creditors claim vote on Orpea plan was “unlawful”
A group of French care home operator Orpea’s international creditors have claimed a vote in favour of its restructuring plan by six classes of creditors last month was unlawful, after an appeal court ordered the company to partially change its class composition.
05 July 2023
Differ Group Auto withdraws Cayman RO petition
Chinese investment holding company Differ Group Auto has withdrawn an application to appoint restructuring officers in the Cayman Islands after reaching a deal with an investor who has agreed to fund a restructuring in Hong Kong.
05 July 2023
Atento enters RSA with advice from Sidley, Loyens & Loeff, Houlihan and FTI
Lawyers from Sidley Austin and Loyens & Loeff, and financial advisers from Houlihan Lokey and FTI Consulting, have helped a business process outsourcing firm with a focus on Latin America enter a bridge financing deal that will help it raise US$30 million in new money, while it contemplates a restructuring through a Part 26A plan in the UK.
04 July 2023