Regional news: Europe

Global satellite group Intelsat said it has reached settlements with all objecting creditors and shareholders apart from one group of convertible noteholders, which claims advisers that signed off on its amended Chapter 11 plan were conflicted.

06 December 2021

Mourant Ozannes partner Stephen Alexander and associate Chris Vincent examine the recent “landmark” changes to Jersey’s Companies Law, which they say reinforce the jurisdiction’s position as a leader among offshore international finance centres.

06 December 2021

A decision by former KPMG partners to put café chain Patisserie Valerie into creditors’ voluntary liquidation in late 2019 was valid even though they didn’t consult all creditors, an English court has ruled.

03 December 2021

Electronics entrepreneur Lars Windhorst has failed to overturn the registration of a German judgment in England, in an appeal dealing with the interplay between the EU’s Insolvency Regulation and the Brussels Regulation.

02 December 2021

Retired Scottish Court of Session judge Lord Drummond Young told delegates at the International Bar Association’s 26th annual global restructuring conference in Edinburgh that “plagiarism can be very useful” for countries drafting preventative restructuring legislation.

02 December 2021

Alvarez & Marsal has hired a new managing director in London with experience advising drilling services company Seadrill and South African retailer Edcon.

02 December 2021

Six months after the English High Court rejected its scheme of arrangement, struggling subprime lender Amigo has announced two new potential schemes and warned it expects to file for administration if one of them isn’t approved.

01 December 2021

Non-executive directors of collapsed construction company Carillion have told an English court that disqualification claims brought against them are “oppressive” and evidence submitted by the UK government is “ill-founded”.

30 November 2021

The administrators of Swissport’s Luxembourg-incorporated former parent have secured discharge orders from the High Court in London, despite there being no process available for them to dissolve the company in its home jurisdiction.

29 November 2021

Spain gained experience from its previous crisis in 2008 and now has the tools and the players to face the challenges ahead, a panel of experts recently agreed – predicting that although the need for restructuring remains high, there will not be an avalanche of insolvency proceedings because of covid-19. Professor Rodrigo Olivares-Caminal reports.

29 November 2021