Pre-pack
Fried Frank partner joins Jones Day in New York amid latest promotions round
Jones Day has recruited a longtime Fried Frank Harris Shriver & Jacobson partner who advised fashion brand Jack Wills on its pre-packaged sale to British retail giant Sports Direct – and announced partnership promotions for four of its US restructuring lawyers.
10 November 2022
Eversheds advises Next in Made.com pre-pack administration sale
Eversheds Sutherland is advising British home and fashion retailer Next in its acquisition of online furniture outlet Made.com via a pre-packaged administration sale.
09 November 2022
Altera gets Ch11 plan approval after unsecured creditor concessions
UK-headquartered oil and gas services provider Altera Infrastructure has won a Texas court’s approval for its US$1 billion restructuring plan, after it was amended three times following objections from unsecured bondholders who were initially left out of the money.
07 November 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
Kirkland advising as former Kodak x-ray unit files Ch11
X-ray imaging products supplier Carestream Health, which was sold to Canadian investor Onex by Eastman Kodak, has filed a pre-packaged bankruptcy plan in Delaware to halve its US$1 billion debt pile and hand its equity over to lenders.
24 August 2022
Global construction group completes “landmark” pre-pack in Spain
In one of the fastest pre-pack sales since the concept was introduced in Spain two years ago, global construction group Urbas has secured court approval to acquire the production unit of Spanish architecture group Ingeser.
23 August 2022
Skadden advising as Endo agrees Ch11 pre-pack sale amid opioid suits
Ireland-registered pharmaceutical group Endo has sought bankruptcy protection in New York after agreeing a US$6 billion sale with noteholders – with plans to seek recognition in Canada, the UK and Australia.
17 August 2022
Angelo Gordon acquires insolvent Spanish hotel chain in pre-pack deal
A Spanish hotel chain founded by a three-time Olympic equestrian has been acquired by US-headquartered investor Angelo Gordon and Canadian hotel manager Westmont Hospitality Group after entering a pre-pack reorganisation in Madrid.
04 August 2022
Proskauer recruits veteran Clifford Chance partner in London
A long-time partner of magic circle firm Clifford Chance, who advised Dubai World Dry Docks on the restructuring of its US$2.2 billion international debt, has joined Proskauer Rose in London.
08 June 2022
Simpson Thacher and Baker Botts advising as TPC Group files Ch11
Houston-headquartered petrochemical corporation TPC Group has filed Chapter 11 proceedings after entering an agreement with creditors to eliminate almost 75% of its secured debt and resolve claims arising from an explosion at one of its plants.
01 June 2022