Operational restructuring

Germany’s Grub Brugger hires eight-person team in Stuttgart

German law firm Grub Brugger has hired an entire insolvency team from Stuttgart’s Menold Bezler, including a group of partners who completed one of the first German restructurings under the new StaRUG tool.

23 August 2021

NMC group update reveals creditor vote date

The NMC group has announced it will hold meetings of creditors for its 35 deeds of company arrangement on 1 September, in a detailed update also noting the various proceedings it has been pursuing - and fighting - in onshore and offshore courts across the UAE.

13 August 2021

The EU Restructuring Directive: how member states are progressing with transposition

With the deadline for domestic transposition of the European Restructuring Directive having passed this weekend, McDermott Will & Emery partner Timothée Gagnepain and associate Lucille Madariaga in Paris discuss how it has been eagerly awaited – and yet is likely to be postponed for at least a year – in most EU member states.

19 July 2021

Re-launched Buchler Phillips expands in London

London-based turnaround and restructuring firm Buchler Phillips has re-hired an insolvency specialist after a 25-year hiatus and appointed the former chairman of Tottenham Hotspur football club as a partner.

07 June 2021

Creditors support Thai Airways plan – but there’s a long haul ahead

Creditors of Thai Airways have voted in favour of what one lawyer has described as a “vague” restructuring plan, which envisages the airline being in rehabilitation until at least 2025.

21 May 2021

Lawyers react to Virgin Active plan sanction decision

A company voluntary arrangement on steroids, or a tool that gives Goliath license to squash David? Lawyers on the debtors’ and landlords’ side give their take on Virgin Active’s freshly-sanctioned restructuring plans: the first to compromise lease liabilities, with the most extensive cram-down seen to date.

13 May 2021

NCP hires Kirkland and Deloitte for UK plan

Kirkland & Ellis and Deloitte are advising Japanese-owned car park operator NCP as it follows gym chain Virgin Active in using a UK restructuring plan to deal with property leases – meanwhile the High Court has weighed in on who should pay objecting landlords’ costs in restructuring plan cases.

16 April 2021

Oi completes first judicial restructuring sale

Brazilian financial group Piemonte has acquired five data centres from Oi with assistance from Pinheiro Neto Advogados, marking the telecoms company’s first divestment under its judicial restructuring.

31 March 2021

Thai Airways submits plan but creditors yet to see it

Thai Airways’ rehabilitation planners have submitted a restructuring plan before a Bangkok court as well as the country’s official receiver and its stock exchange managers, but creditors’ counsel say their clients are yet to see its contents.

02 March 2021

French firm Franklin expands in Paris

A year on from the foundation of its restructuring practice under Numa Rengot, France’s Franklin has expanded in Paris with a hire from Deloitte’s French firm Taj.

21 January 2021

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