News
Argentine power provider enters Chapter 11
Power plant operator Stoneway Capital Corporation has applied for Chapter 11 protection in the US and is likely to abandon its Canadian restructuring, after environmental claims filed against it in Argentina prevented the extension of a standstill agreement with creditors.
08 April 2021
No assets? No problem! Israeli trustee accesses UK concealment structure
The Israeli trustee of a property investor once rumoured to be Israel’s largest private bankrupt has persuaded an English court to transfer him the rights to a UK company believed to be at the top of a structure intended to hide German assets – though no assets have been identified as yet, even by private investigators.
08 April 2021
IBA releases toolkit on insolvency and arbitration
The International Bar Association has released a toolkit providing guidance for when a party to an arbitration is subject to insolvency proceedings.
08 April 2021
Interim recognition in Australia for Greensill Bank administrator
Greensill Bank’s German insolvency administrator has obtained interim recognition in Australia and has used Eversheds Sutherland to make a similar application in the UK.
07 April 2021
Hogan Lovells leads on €4.5 billion restructuring of French hotel operator
A long list of law and advisory firms have helped international hotel operator AccorInvest Group secure additional financing and complete a multi-jurisdictional restructuring of its €4.5 billion debt pile.
07 April 2021
New Zealand’s insolvent trading laws under fire in Mainzeal appeal decision
Directors of New Zealand construction company Mainzeal, including a former prime minister, have failed to escape liability for breaches of their duties before its collapse, despite an appeal court overturning a compensation award for reckless trading.
07 April 2021
Kirkland makes rare US lateral hire
Kirkland & Ellis's restructuring practice has made its first lateral hire in the US for more than a decade, taking a partner from Skadden Arps Slate Meagher & Flom.
06 April 2021
Fried Frank continues growth with New York hire
Weeks after Mandip Englund joined its London restructuring group, Fried Frank has hired veteran Kasowitz Benson Torres partner Adam Shiff in New York.
06 April 2021
Weil Gotshal advising as Brooks Brothers enters UK administration
UPDATED: US clothing group Brooks Brothers has placed its UK arm into administration after securing approval of a Chapter 11 plan to wind down its remaining assets following a sale last year.
06 April 2021
Virgin Active landlords need disclosure for cramdown arguments, English court says
The English High Court has published its reasons for allowing Virgin Active to hold plan meetings, explaining that it ordered the gym chain to give landlords extra information because it was relevant to a potential cross-class cramdown challenge.
01 April 2021
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