News

UAE’s Arabtec reveals details of its Dubai bankruptcy

Nearly four months after shareholders resolved it should enter insolvent liquidation, the Middle East's largest contractor has provided information on its bankruptcy proceedings in Dubai.

22 March 2021

Telecoms group's restructuring plan sanction adjourned

UPDATED: A pan-African telecoms group’s UK restructuring plan sanction hearing has been adjourned, after a court found that the sole dissenting creditor had the discretion on whether the plan would come into effect.

19 March 2021

Bedding group fends off US district court challenge

A group of Cayman-incorporated first-lien debt holders who tried to challenge a mattress manufacturer’s novel new money restructuring before a US district court have failed at the jurisdictional stage after the court found their collective principal place of business was in New York.

19 March 2021

Premier Oil restructuring plans sanctioned in Scotland

UK restructuring plans have been sanctioned in Scotland for the first time, clearing the way for London-headquartered oil and gas producer Premier Oil to complete a merger with North Sea exploration and production company Chrysaor.

19 March 2021

Dissolved BVI companies restored after “catastrophic” mistake

Two BVI companies that were part of Tokyo-headquartered alternative investor Pacific Alliance Group and were erroneously liquidated and dissolved following a “massive breakdown” of communications will be restored to the islands’ company register.

19 March 2021

“Momentous time” as final GM Chapter 11 ends

The last remaining General Motors Chapter 11 case has closed in New York, nearly 12 years after one of the largest bankruptcy filings in US history made headlines around the world.

18 March 2021

Spanish construction group wins English scheme meeting citing Gibbs

The Spain-incorporated holding company for an international construction and engineering group has secured a scheme meeting in London after failing to make €15.1 million of coupon payments on two sets of notes earlier this week.

18 March 2021

Linklaters hires in Hong Kong

Magic Circle firm Linklaters has hired two partners from White & Case and Kirkland & Ellis in Hong Kong, as the firm says it plans to strengthen its focus on funds in Asia.

18 March 2021

US coal miner sues Greensill for fraud

A US coal miner owned by the governor of West Virgina has sued collapsed finance group Greensill for alleged fraud, a week after an English court appointed Grant Thornton as its administrators.

18 March 2021

Extension of commercial forfeiture moratorium – unlikely to turn the tide?

While the government has extended its protections for commercial tenants once more, partner Roger Schofield, counsel Katharina Crinson and associate Nicholas Cooper at Freshfields Bruckhaus Deringer in London say it’s a matter of “when” not “if” the UK will see more CVAs – and potentially restructuring plans – targeting rental obligations.

18 March 2021

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