News

Singaporean hotel group fights Chapter 11 dismissal motion

Hotel portfolio owner Eagle Hospitality Trust is battling to prevent a Delaware court from dismissing Chapter 11 cases filed by its Singaporean affiliates, while part of the group has entered liquidation in Singapore.

30 March 2021

ABLI & INSOL: Is Singapore a good alternative for Indonesian companies?

Lawyers from Singapore and Indonesia compared the pros and cons of their jurisdictions for international restructurings featuring Indonesian companies, at a webinar organised by the Asian Business Law Institute and INSOL International.

30 March 2021

Virgin Active secures plan meetings

International gym chain Virgin Active has won an English court’s permission to hold meetings on restructuring plans that target its rent payments – but has been ordered to provide more information to disgruntled landlords.

29 March 2021

Norwegian Air schemes approved in Ireland

An Irish court has sanctioned schemes of arrangement for Norwegian Air, paving the way for the airline to exit examinership as it awaits a creditor vote on its restructuring in Norway.

29 March 2021

Regis hearing brings close to month-long CVA trials

Counsel to the landlords who have been challenging retailer New Look and defunct hairdressing chain Regis’ company voluntary arrangements throughout the last month have met lawyers for Regis’ CVA nominees in court one last time.

29 March 2021

English court sanctions gategroup restructuring plan

Swiss airlines services provider gategroup has secured sanction of its UK restructuring plan after adding an additional provision to help ensure it is effective in Switzerland.

26 March 2021

Greensill files Chapter 11 in New York, fails to secure interim DIP order

One day after a US unit of collapsed finance group Greensill filed for Chapter 11 protection, a New York court has adjourned a first-day hearing to approve interim debtor-in-possession financing after raising issues with “awfully expensive” exit fees.

26 March 2021

Begbies Traynor appointed as scandal-hit Football Index enters UK administration

Jersey-based BetIndex, which operates online gambling company Football Index, has been placed into administration by the English High Court – one week after a Jersey court issued a letter of request seeking its assistance.

26 March 2021

The rise in debt for equity swaps structured through Jersey

Partner Bruce MacNeil and managing associate James Lydeard at Ogier observe what makes the use of Jersey-incorporated acquisition and holding vehicles attractive for international restructuring transactions featuring debt for equity swaps, amid the emergence of a growing trend.

26 March 2021

Landlords question Virgin Active plan meetings

Lawyers for Virgin Active have said the gym chain will probably have to rely on cross-class cramdown provisions to implement three proposed UK restructuring plans that target its rent payments, after landlords and other creditors raised concerns at a High Court hearing.

25 March 2021

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