News

Gibson Dunn rehires Freshfields restructuring and special situations partner

A former Gibson Dunn associate who worked on the multi-billion-dollar restructuring of UAE-based healthcare group NMC has returned to the firm after nine years working with Latham, Kirkland and Freshfields in London.

19 January 2024

Skadden, Cleary and Sainz advising on Mexico shadow bank’s restructuring

Mexico shadow bank Unifin is seeking court approval of a restructuring negotiated with unsecured creditors that will see them takeover up to 80% of the group’s equity.

19 January 2024

Former Lehman judge joins South Square

A former New York bankruptcy judge who presided over the Lehman Brothers bankruptcy for five years has joined South Square Chambers in London, following his recent appointment to the Singapore International Commercial Court.

18 January 2024

Jackson Walker to face clawback trials in August

Texan law firm Jackson Walker is set to face at least three clawback trials in August over the US Trustee’s claim it failed to disclose an intimate relationship between its former partner Elizabeth Freeman and ex-Houston bankruptcy judge David Jones.

18 January 2024

UK restructuring plan: cramming up a super-senior creditor class in a unitranche structure

Norton Rose Fulbright lawyers consider how the UK’s Part 26A restructuring plan has opened up opportunities for “cram up” in unitranche structures – a type of hybrid structure that brings together senior and subordinated debt under one loan.

18 January 2024

Germany’s Tele Columbus secures English scheme meeting

German telecoms group Tele Columbus has secured a single meeting for creditors to vote on an English scheme of arrangement that will extend its debt maturities and provide it with a new equity contribution, despite the judge expressing reservations as to whether it has a sufficient connection to the UK.

17 January 2024

Investment funds obtain US subpoenas to challenge French cramdown restructuring

French care home operator Orpea is facing fresh opposition to its restructuring plan after unsecured creditors successfully obtained discovery from a member of the plan’s steering committee in Delaware to help them challenge the plan in France.

17 January 2024

Caribbean round-up: international oil group wound up over unpaid fees

A Nasdaq-listed global energy group and a failed SPAC are facing liquidation in the Cayman Islands, while international oil group Frontera has been wound up and a Grenada court has ruled that a director who was allegedly ousted from his company during an “illegal” shareholders meeting has standing to bring a winding up application against it.

17 January 2024

Quinn Emanuel recruits Paul Hastings veteran

Paul Hastings restructuring partner David Ereira, who advised the UK administrators of Lehman Brothers in the group’s mammoth bankruptcy, has joined Quinn Emanuel Urquhart & Sullivan in London.

16 January 2024

Sidley advising again as another developer restructures via Hong Kong scheme

Chinese property developer Zhongliang will hold meetings for its creditors to vote on a Hong Kong scheme of arrangement next month, as it tries to restructure approximately US$704 million worth of offshore senior notes.

16 January 2024

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