Out-of-court restructuring

French care group presents turnaround plan as prosecutors raid homes

Disgraced international care home group Orpea has revealed a turnaround plan that it hopes to pursue in French conciliation proceedings, which could see it withdraw unprofitable locations globally and equitise around US$3.8 billion in unsecured debt.

21 November 2022

White & Case advising as French care homes group opens creditor talks

Scandal-hit French care home operator Orpea has opened negotiations with creditors to restructure its multi-billion dollar debt pile after allegations of accounting fraud and mistreatment of residents surfaced earlier this year.

31 October 2022

Lefosse adds trio of partners in São Paulo

Brazilian firm Lefosse has bolstered its insolvency offering with the addition of Cescon Barrieu Flesch & Barreto’s former restructuring head Fábio Rosas and two other partners in São Paulo.

18 October 2022

GRR Live, Singapore: the hub, five years on

Singapore’s freshly appointed official receiver, Francis Ng SC, reflected on the five years since the city-state declared its ambition to be a regional restructuring hub and looked to its future as a potential centre for restructuring troubled cryptocurrency platforms in his keynote at GRR Live.

25 August 2022

Lenders take control of Lycra with advice from Linklaters

Linklaters has helped junior creditors take full equity control of US stretchy fibre maker Lycra from defaulting Chinese fashion conglomerate Shandong Ruyi, in a transaction across Asia, the Netherlands, London and the US, which the firm described as “one of the most high profile and complex enforcement and restructurings implemented in the market in recent years”.

12 July 2022

Bondholder sues Sri Lanka in US as foreign investors form creditor group

Sri Lanka is facing a US$250 million claim from a bondholder in New York who accuses the country of discriminating against US investors in its debt restructuring, after it defaulted for the first time in its history last month.

24 June 2022

Latham, A&O, HSF and Willkie Farr advise on Mediapro refinancing

Advisers from the UK, Spain and Hong Kong have helped Barcelona-headquartered media company Mediapro agree a refinancing deal with a shareholder to strike €500 million from its €900 million debt pile.

21 June 2022

“Retirement is a fantasy for the young”: Allen & Overy’s former US restructuring head joins Kasowitz

The former head of magic circle firm Allen & Overy’s US restructuring group, who worked as American counsel to Virgin Atlantic in the UK’s first-ever Part 26A restructuring plan, has left retirement to join Kasowitz Benson Torres in New York.

13 June 2022

Eversheds hires Alston & Bird partner to lead corporate debt advisory group

Eversheds Sutherland has hired a long-time Alston & Bird partner to chair its corporate debt advisory group in Atlanta, as part of ongoing efforts to grow its restructuring offering.

24 May 2022

Win for Goodwin as Kirkland partner joins firm

A Kirkland & Ellis partner who represented creditors in the Seadrill, Puerto Rico and Molycorp restructurings has joined Goodwin Procter in New York.

21 April 2022

Unlock unlimited access to all Global Restructuring Review content