News

US paparazzi agency files for bankruptcy following Meghan Markle lawsuit

Blaming an “unbearably expensive” privacy claim lodged against it in England by Meghan Markle, US paparazzi outlet Splash News & Picture Agency has filed Chapter 11 proceedings in Nevada – with plans to hire Pinsent Masons to seek recognition in the UK.

25 March 2021

Fieldfisher hires new restructuring heads in Madrid and Barcelona

The Spanish arm of Fieldfisher has started to rebuild its restructuring group with hires in Madrid and Barcelona, after its long-time practice leader Agustí Bou joined BDO earlier this month with a six-person team.

25 March 2021

Luckin Coffee wins New York recognition but objections remain

China’s Luckin Coffee has secured US recognition of its Cayman liquidation – but a New York court has asked for more information before it decides the scope of further Chapter 15 relief, in light of objections lodged over a stay on claims against non-debtor parties.

24 March 2021

Receiver appointed over PDVSA subsidiary in Dutch Caribbean

A subsidiary of Venezuelan state oil company PDVSA has entered bankruptcy proceedings in the Dutch Caribbean island of Bonaire amid US sanctions on its business.

24 March 2021

Knotel sold out of Chapter 11 after Canadian recognition

Struggling flexible office space operator Knotel has received court approval for its sale to a subsidiary of US commercial real-estate giant Newmark, after its Chapter 11 proceedings were recognised in Canada.

24 March 2021

Vehicle linked to collapsed German Property Group wound up in Ireland

An Irish vehicle created to invest in historic German real estate has been wound up by the High Court in Dublin, eight months after a property group it put money into collapsed in Germany amid “profoundly worrying allegations”.

23 March 2021

Moratorium application dismissed as unfeasible in Singapore

In what local lawyers say is one of the first tests of the IRDA regime, a Singaporean court has refused to grant a restructuring moratorium to an electronics company, finding its proposed scheme of arrangement was not feasible.

23 March 2021

New Look trial set to run to sixth day

New Look and its landlords have tussled over arguments on jurisdiction, voting, disclosure and unfair prejudice in a trial challenging the high street retailer’s company voluntary arrangement, which has lasted five days so far and is set to continue tomorrow.

23 March 2021

Covid-19 Calls: Ashley Katz and Mandip Englund at Fried Frank in London

Featured in Covid-19 calls

Fried Frank restructuring and insolvency partners Ashley Katz and Mandip Englund give their views on the UK’s new pre-pack regulations and why a clear plan is needed to save businesses when an “artificial and unsustainable” bubble created by government support packages bursts.

22 March 2021

HNA seeks investors amid Chinese restructuring proceedings

Chinese conglomerate HNA Group is looking for investors in its aviation and retail businesses, after a Hainan court consolidated the restructuring proceedings of over 300 companies in the group.

22 March 2021

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