Regional news: Australia
Australian swimwear retailer dives into administration
Australia’s largest swimwear retailer Seafolly, which is backed by French fashion conglomerate LVMH Moët Hennessy Louis Vuitton, has filed for voluntary administration in Sydney, with Norton Rose Fulbright and Ashurst advising.
10 July 2020
Shoosmiths advises on TM Lewin pre-pack, EY appointed in Australia
Shoosmiths has advised the administrators of London-based shirt retailer TM Lewin on a pre-pack sale that has shuttered all of its UK stores, as its Australian arm entered voluntary administration under EY.
06 July 2020
Baker McKenzie partner set to join Allen & Overy in Sydney
Allen & Overy has hired Baker McKenzie partner David Walter to its Asia-Pacific restructuring group as a “key part” of a planned expansion in the region.
03 July 2020
Virgin Australia administrators select Bain Capital as new owner
Virgin Australia’s administrators have entered a sale agreement with US private equity group Bain Capital and warned shareholders not to expect any recoveries.
01 July 2020
Aussie copper miner completes first guarantor’s scheme, bypasses Gibbs rule with declaration
King & Wood Mallesons has helped the parent of a copper miner complete the first guarantor’s scheme of arrangement in Australia, restructuring English law-governed debts and getting around the Gibbs rule with a declaration from an English court.
29 June 2020
J Crew wins rent relief in US
A US bankruptcy court has allowed apparel retailer J Crew to pause rent payments for two months, following similar orders handed down in Australia and England to protect retailers struggling from the covid-19 pandemic.
27 May 2020
Australian court allows Colette administrators to hold off rent payments
The administrators of Australian fashion retail group Colette have been relieved from paying landlords for a period, after the Federal Court of Australia found the covid-19 pandemic had created “extraordinary” circumstances.
21 April 2020
INSOL Insights: Rapid evolution in Chinese bankruptcy and reorganisation
King & Wood Mallesons restructuring partner Sam Kinsey shares her key takeaways from recent insolvency seminars in Beijing and Shanghai. There are positive signs, but considerable uncertainty remains, she says.
14 January 2020
Creditors race to put Tough Mudder in bankruptcy
Creditors of obstacle course organiser Tough Mudder have filed an involuntary Chapter 11 petition against it in Delaware, claiming management is “content to let the business fail”.
09 January 2020
Deloitte and BDO brought in as ex-Steinhoff retailer collapses
Australian retail chain Harris Scarfe has entered receivership, less than a month after South African conglomerate Steinhoff sold it to Sydney-based private equity firm Allegro Funds.
13 December 2019