Seven companies belonging to French supermarket group Casino have applied for US recognition of their accelerated safeguard proceedings in Paris, where they are seeking to relieve themselves of €1.5 billion in New York law-governed debt.
19 February 2024
India’s Insolvency and Bankruptcy Code has helped cure “almost life-threatening” levels of non-performing assets faster than anybody anticipated, an international audience heard this weekend. As the country gears up to become the world’s third largest economy, the question is how to sustain growth for the next 25 years, and the challenge is encouraging foreign private investment in its debt.
12 February 2024
A newly-released report on the Dutch WHOA restructuring tool has shown that it generally works as intended by its legislators - to the surprise of the academic team that conducted the research.
06 February 2024
A German homebuilder has launched a StaRUG process in Hanover, with Pluta’s Torsten Gutmann appointed as restructuring officer.
03 January 2024
Barcelona-headquartered paper maker Lecta has won sanction of its second English scheme of arrangement in three years, after receiving overwhelming creditor support at voting.
24 November 2023
A McKinsey & Company partner has joined FTI Consulting as the new leader of its Europe, Middle East and Africa turnaround group within its restructuring practice.
21 July 2023
Rejecting an additional preferential creditor payment of £2 million, the UK’s tax authority has told an English judge not to sanction casual dining chain Prezzo’s restructuring plan because it is unfair to expect money that should be funding public services to go towards paying private creditors.
30 June 2023
The parent of UK casual dining chain Prezzo has been permitted to convene four meetings of creditors to vote on a Part 26A restructuring plan, after reaching an agreement with the UK tax authority to leave jurisdictional issues regarding “give and take” to the sanction stage.
22 May 2023
Following in the steps of car parts manufacturer Leoni, German fashion chain Gerry Weber has applied to enter StarRUG proceedings and a self-administration process for an operational restructuring – the first time a combination of the two has been tried out, according to its counsel.
24 April 2023
The administrators of a Guernsey property developer, who cited a Lehman precedent in a bid to obtain an “innovative” discharge order conditional on the group exiting a company voluntary arrangement solvent, have had their request denied.
19 April 2023
Unlock unlimited access to all Global Restructuring Review content