News

UK’s cross-class cram-down applied for first time

The cross-class cram-down mechanism introduced in the UK last year has been applied for the first time, after the English High Court sanctioned three restructuring plans for Dutch subsea services provider DeepOcean Group.

13 January 2021

Creel hires Ritch Mueller veteran in Mexico City

Ritch Mueller Heather y Nicolau name partner Thomas Heather in Mexico City, a founding member of the International Insolvency Institute, is joining Creel García-Cuéllar Aiza y Enriquez as of counsel.

13 January 2021

Heads-Up: David Fleming at Duff & Phelps in Manchester

Featured in Heads-Up

“The hunt for talent is a challenge at the moment within the restructuring sector. Purely because people are either already busy or expecting to get busier in the year to come.” David Fleming, the head of Duff & Phelps’ UK advisory team, spoke to GRR in December, soon after news broke that its global restructuring advisory practice was acquiring Hong-Kong headquartered Borelli Walsh. With at least four senior hires in the UK, a new office in Sydney and expansion in the Middle East and New York in 2020 too, we asked Fleming for his thoughts on the firm’s year ahead.

12 January 2021

Lawyers welcome India’s pre-pack plans

India’s Ministry of Corporate Affairs is inviting public comments on a pre-packaged insolvency framework to help deal with the fallout from the covid-19 pandemic – which local lawyers say could attract foreign investors.

12 January 2021

Petra Diamonds’ English scheme sanctioned after foreign recognition assured

A subsidiary of Bermuda-incorporated, Jersey-headquartered miner Petra Diamonds has had its English scheme sanctioned, with the judge assuming it could be recognised in the EU since the proceedings were commenced before the UK’s Brexit transition period closed.

12 January 2021

Womenswear retailer denied covid-19 rent relief in Canada

Canadian womenswear retailer Groupe Dynamite has failed to secure relief from a Montreal court on rent accrued after filing CCAA proceedings, despite the closure of its stores due to covid-19.

11 January 2021

Community roundup: Hires at Jeantet, White & Case and GÖRG

Updated: European firm Jeantet has established a restructuring practice with a four-lawyer team from France's Fidal in Paris; while White & Case has hired from Clifford Chance in Japan and GÖRG from Anchor Rechtsanwälte in Germany.

11 January 2021

Property lobby complains of CVA “abuse” as landlords challenge Caffè Nero

A British property organisation has urged the UK government to overhaul company voluntary arrangements, as Kirkland & Ellis was revealed to be advising on a challenge to British coffee chain Caffè Nero’s use of the procedure.

08 January 2021

US community round-up: Armstrong Teasdale, Jones Walker and Sheppard Mullin make hires

Missouri-headquartered Armstrong Teasdale has announced plans to open an office in Delaware with a four-partner hire from Elliott Greenleaf, while Jones Walker has added a bankruptcy litigator in Atlanta and Sheppard Mullin has snapped up a debt finance partner from Hogan Lovells in Los Angeles.

08 January 2021

Quantuma acquires new Cayman firm

UK-headquartered Quantuma has acquired a Cayman Islands-based advisory firm recently founded by asset recovery specialist Angela Barkhouse, stating it wants to replicate its past success expanding internationally in Cyprus and Mauritius.

07 January 2021

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