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Judges in Spain’s Balearic Islands have adopted a protocol for conducting pre-packaged asset sales, which they say is framed within the “spirit and purpose” of the EU directive on preventive restructuring.
12 May 2021
Two months after a Texas court confirmed its Chapter 11 plan, UK-incorporated offshore drilling contractor Valaris has completed a US$7.1 billion restructuring through a complementary pre-pack administration sale in the UK.
04 May 2021
“Crisis creates an opportunity for reforms.” EY partner Pulkit Gupta and senior associate Utkarsh Goel discuss the flexibility of India’s new pre-pack framework, which they say could prove invaluable in helping to deal with an expected wave of covid-related distress in the coming months.
30 April 2021
Weeks after the commercial courts of Barcelona issued a set of basic guidelines for conducting pre-packaged sales, the Madrid courts have declined to follow suit – refusing to deviate “one iota” from Spain’s Insolvency Act.
02 March 2021
American department store chain Belk has secured the fastest ever confirmation of a pre-packaged Chapter 11 plan, with Kirkland & Ellis, Latham & Watkins, O’Melveny & Myers and Willkie Farr all taking instructions.
24 February 2021
Three months after approving Spain’s first pre-packaged asset sales, the commercial courts of Barcelona have issued a set of basic guidelines for conducting the process – and local lawyers tell GRR they expect other courts to follow suit.
01 February 2021
Debenhams’ old top company is set to be wound-up following a court hearing, while the administrators of the retailer’s current operating arms have confirmed the sale of its brand name and the closure of its stores.
25 January 2021
India’s Ministry of Corporate Affairs is inviting public comments on a pre-packaged insolvency framework to help deal with the fallout from the covid-19 pandemic – which local lawyers say could attract foreign investors.
12 January 2021
Months after it approved a restructuring plan for telecoms company Frontier Communications, a New York court has appointed Evercore Group as its financial adviser and set its fees at a “reasonable” level, after repeat objections from creditors that they were “excessive”.
04 November 2020
London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.
19 October 2020
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