News

GRR 40 under 40 2022: two weeks until nominations close

There are just two weeks left to help GRR identify the next generation of rising stars within the cross-border restructuring community, as nominations for the GRR 40 under 40 2022 will close at the end of January.

17 January 2022

Heads-Up: Andrew Wilkinson and Neil Devaney at Weil in London

Featured in Heads-Up

Weil Gotshal & Manges’ London restructuring co-heads Andrew Wilkinson and Neil Devaney tell GRR why restructuring skills will have to develop to address environmental issues in future, and why a move from CVAs to Part 26A restructuring plans is desirable.

14 January 2022

Mainland court recognises Hong Kong liquidators for first time

The liquidators of a Hong Kong-incorporated paper company have secured the historic recognition of their appointments in mainland China following a first-of-its kind ruling by the Shenzhen Intermediate People’s Court.

14 January 2022

Isle of Man liquidator seeks Chapter 15 recognition in US first

In what is thought to be the first application for recognition of an Isle of Man voluntary liquidation in the US, an Africa-focused private jet operator's liquidator has filed a Chapter 15 in Oklahoma to stall a local litigation and try to access escrow funds.

14 January 2022

Seadrill subsidiary completes pre-pack in 24 hours

Offshore rig operator Seadrill has come a step closer to completing its restructuring, after a group of its subsidiaries received court approval for a Chapter 11 pre-pack plan in just 24 hours, despite objections from the US trustee.

13 January 2022

FRP boosts London restructuring team

FRP Advisory has expanded its restructuring team in London with a partner hire from the UK’s financial regulator and a new director who worked on the Thomas Cook and HMV insolvencies.

13 January 2022

English court upholds novel “supplier of last resort” decision

Energy supplier Scottish Power will have to cover debts that arose after it inherited more than 200,000 customers from insolvent rival Extra Energy via the UK’s supplier of last resort mechanism, following a judgment upholding regulator Ofgem’s decision-making processes.

13 January 2022

Another Part 26A first as Smile Telecoms secures convening hearing for sole creditor

Pan-African telecoms group Smile Telecoms has won approval to convene a plan meeting for a single creditor after convincing the English High Court to employ a never-before-used tool to exclude other plan participants because they are out of the money.

12 January 2022

Genting Hong Kong shipbuilding subsidiary enters insolvency in Germany

UPDATED: A subsidiary of the troubled cruise operator Genting Hong Kong has entered insolvency in Germany, claiming that various local state entities have imposed new conditions preventing it from drawing down on financing facilities it is entitled to.

12 January 2022

Europe column: insolvency law, the year ahead

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, gives readers a peek into the EU’s 2022 agenda.

12 January 2022

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