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In Virgin Australia's insolvency, a federal court has issued the first ruling on an administrator’s obligation to “give possession” under the Cape Town Convention, as creditors approved its sale to Bain Capital; meanwhile, Virgin Atlantic received the first Chapter 15 recognition of a new English restructuring plan.
04 September 2020
Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.
01 September 2020
The legal director of the Australian Restructuring Insolvency & Turnaround Association, Natasha McHattan, has joined Herbert Smith Freehills as special counsel in Sydney.
27 August 2020
Creditors have approved Virgin Atlantic’s ground-breaking restructuring plan at four virtual meetings, with 99% of trade creditors lending their support.
25 August 2020
An Australian court has requested assistance from the High Court of Hong Kong to summons three Hong Kong residents in the decade-old liquidation of Australian crop planting company Rennie Produce.
18 August 2020
The newly appointed administrators of two Virgin Australia entities that Bain Capital plans to include in its purchase of the group have sought Chapter 15 recognition in New York.
14 August 2020
Australian satellite communications group Speedcast has agreed to sell its business to a US private equity firm, in a deal that would see disgruntled shareholders lose out when it emerges from bankruptcy.
14 August 2020
An Australian court has recognised the Hong Kong bankruptcy estate of an airline pilot, despite expressing concerns over the determination of his centre of main interests.
12 August 2020
Advisory firm Duff & Phelps has recruited one of Australia’s most experienced restructuring and insolvency practitioners for its new Sydney office.
07 August 2020
DLA Piper has hired a new partner in its Melbourne restructuring practice, after losing its Australian head of restructuring to Dentons in March.
29 July 2020
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