Regional news: Africa & Middle East
Pinsent Masons recruits new banking head from Norton Rose Fulbright in Dubai
Norton Rose Fulbright partner Matthew Escritt has joined Pinsent Masons as its regional head of banking in Dubai, as many of the UAE’s formal restructurings are set to be postponed until next year in light of the pandemic.
12 June 2020
Abu Dhabi’s NMC Health seeks US recognition to halt class actions
Scandal-hit Middle Eastern healthcare chain NMC Health is seeking recognition of its English administration proceedings in Delaware, in an effort to block two class actions launched by stockholders in California.
01 June 2020
English company to serve winding-up on Finablr in Abu Dhabi
An English design consultancy has won permission from a UK court to serve a winding-up petition on scandal-hit financial services holding company Finablr in Abu Dhabi.
26 May 2020
South Africa’s Webber Wentzel strengthens team in Johannesburg
Linklaters alliance firm Webber Wentzel has recruited former Allen & Overy partner Khurshid Fazel as its new restructuring head in Johannesburg, along with partner Julian Jones from Cliffe Dekker Hofmeyr.
18 May 2020
DLA Piper advising administrators of scandal-hit NMC Health
DLA Piper partners Chris Parker and Peter Somekh are advising a trio from Alvarez & Marsal as joint administrators of Abu-Dhabi-based healthcare chain NMC Health, which has been engulfed in accusations of fraudulent accounting.
14 April 2020
Moelis, PwC and A&O brought in for US$2bn NMC Health restructuring
Abu Dhabi-based healthcare chain NMC Health has hired Allen & Overy, Big Four firm PwC, and global investment bank Moelis & Company to advise on its US$2 billion debt restructuring, following allegations of discrepancies in its finances.
02 March 2020
Hyflux deadlines extended for debt buyout and creditor claims
Singaporean investor Aqua Munda has extended the deadline for Hyflux’s noteholders and unsecured creditors to tender their debt buyout offers.
05 February 2020
Hyflux appoints Clifford Chance
One day after WongPartnership applied to discharge itself as counsel to Hyflux, the struggling Singaporean utility has appointed Clifford Chance and its local partner Cavenagh Law as its new legal advisors.
30 January 2020
WongPartnership seeks discharge from Hyflux restructuring
Struggling Singaporean utility Hyflux has secured another month-long extension to its debt moratorium after WongPartnership applied to discharge itself as counsel to the company, with Norton Rose Fulbright or Milbank primed to take over.
29 January 2020
Doncasters Group seeks recognition in Delaware
Three days after the High Court in London convened a pair of scheme meetings for its first- and second-lien lenders, Dubai-owned alloy manufacturer Doncasters Group has filed Chapter 15 proceedings in Delaware.
21 January 2020
Get unlimited access to all Global Restructuring Review content