News

Dutch Hema plots €600 million debt for equity scheme in England

De Brauw Blackstone Westbroek and Slaughter and May are leading Dutch retailer Hema in a restructuring running through UK, US and Dutch courts, after the retailer converted its New York law-governed notes to English law via a trust deed to make use of a scheme.

20 July 2020

BVI court favours Hong Kong arbitration over liquidators

A British Virgin Islands court has dismissed an investment fund’s attempts to appoint liquidators over local company Fair Cheerful, finding a dispute between the parties should be arbitrated in Hong Kong.

20 July 2020

Community roundup: new recruits at Gordon Brothers, EY and Kirkland & Ellis

Gordon Brothers and EY have hired in Australia, Kirkland & Ellis and Thornton Grout Finnigan have recruited in Hong Kong and Toronto, and Quantuma and Freeths continue to expand in the UK.

20 July 2020

KPMG administrators complete another UK casual dining pre-pack

Travers Smith, Sidley Austin and Clifford Chance have all taken roles as restaurant owner Azzurri Group was transferred to a new investor in a pre-pack administration deal.

20 July 2020

Weil partner moves to Shearman & Sterling in London

Shearman & Sterling has hired Weil Gotshal & Manges partner Alex Wood in London, as firms around the globe continue to prepare for a coronavirus-induced wave of restructurings.

17 July 2020

Bermudian court terminates UK recognition order over litigation probe rules

A Bermudian court has discharged the recognition of a UK-appointed liquidator, affirming rules on gathering information for foreign lawsuits laid out by the Privy Council in its 2014 Singularis decision.

17 July 2020

Lecta completes another recapitalisation as covid-19 bites

Global paper manufacturer Lecta has completed another recapitalisation with Linklaters and Willkie Farr advising, six months after the High Court in London sanctioned a scheme of arrangement that saw it transfer most of its equity to noteholders.

17 July 2020

Singapore court recognises energy company's Hong Kong liquidation

A Singapore court has recognised the Hong Kong liquidation of energy company Shanghai Huaxin Group under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.

17 July 2020

NZ High Court restrains Chinese director’s bankruptcy pending directors’ duties appeal

The High Court of New Zealand has halted a bankruptcy application against a Chinese former director of local construction company Mainzeal, pending his appeal of a multi-million dollar breach of duties judgment.

17 July 2020

Reflective loss rules only apply to shareholders, UK Supreme Court rules in Marex case

The UK Supreme Court has found the reflective loss doctrine only applies to some shareholders, overturning a lower court’s decision to bar an asset-stripping claim brought by UK foreign exchange broker Marex.

16 July 2020

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