News

HFW hires from Clyde & Co in Dubai

HFW’s fraud and insolvency team in Dubai, which is advising the Abu Dhabi Commercial Bank in NMC Healthcare’s administration, has gained a new disputes partner from Clyde & Co.

04 January 2021

Marme interest claim falls under Insolvency Regulation, not Brussels recast

Interest claims brought by ING Bank against Santander in London belong in Madrid an English judge has ruled, in a case she described as “more complex” than previous ones pitting the EU’s Insolvency Regulation against the recast Brussels Regulation.

23 December 2020

Grocon administrators obtain extensions citing Christmas complications

Norton Rose Fulbright has helped KordaMentha partners obtain a three-month extension to convene a second creditors’ meeting for the administration of Australia’s Grocon construction group, so they can investigate the benefits of a pooled deed of company arrangement without disruption from the Christmas break.

23 December 2020

Brazilian extension applications are “collective proceedings” under UK’s Model Law

A Brazilian judicial administrator who has been trying to extend a dairy company’s bankruptcy to two related entities for some years, has had those extension proceedings recognised as “collective proceedings” under the UK’s version of the UNCITRAL Model Law.

22 December 2020

Arthur Cox and Matheson acting as Arcadia companies wound up in Ireland

Deloitte partner Ken Fennel and director James Anderson have been formally appointed as the joint liquidators of four Arcadia group operating companies in Ireland, while its Evans brand has been sold to an Australia-listed retailer.

22 December 2020

French car rental company seeks safeguard’s recognition in New York

Three days after it entered accelerated financial safeguard proceedings in France to implement a restructuring agreed last month, car rental firm Europcar is seeking Chapter 15 recognition of the case in New York.

21 December 2020

Ashurst advising as Norwegian oil services group secures scheme meeting

The holding company for a Norwegian seismic imaging group has secured a single meeting for some of its creditors to vote on an English scheme restructuring US$872 million of debt.

21 December 2020

Air Berlin fails to block English Etihad litigation on appeal

Air Berlin’s administrator must face an English challenge to his €2 billion German contract breach claim against Etihad Airways, after a London appeal court ruled that EU law allowed the dispute to be heard in England under an “asymmetric” jurisdiction clause.

18 December 2020

Heated debate as Galapagos jurisdictional wrangles exchanged

A Luxembourg fund and a German insolvency administrator that are challenging the Galapagos group’s 2019 UK restructuring in the US and Europe, have laid out before an English court why they shouldn’t be joined in a claim for declaratory relief that the restructuring was valid.

18 December 2020

Swissport enters pre-pack administration as English court accepts COMI shift

AlixPartners directors have been appointed as administrators of Swissport’s Luxembourg-incorporated parent company, after the High Court in London accepted it had shifted its centre of main interests to England and Wales.

18 December 2020

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