Regional news: Europe
New Asian-European restructuring boutique launched
A former Baker McKenzie and Deloitte practitioner has co-founded a new cross-border restructuring boutique focused on special situations and transactions in Switzerland, China and Singapore.
12 August 2020
Willkie Farr & Gallagher strengthens London restructuring practice
US firm Willkie Farr & Gallagher has hired a new restructuring partner for its London practice from Morrison & Foerster.
11 August 2020
Clifford Chance, A&O and Akin Gump advising on commodity trader’s UK scheme
An international commodity trader has secured court approval to convene meetings for its creditors to vote on a UK scheme of arrangement, with Clifford Chance, A&O and Akin Gump taking roles.
11 August 2020
PwC sued over insurance firm’s sale to Slater and Gordon
PwC is facing a lawsuit from the successor of its former restructuring client, UK insurance firm Quindell, for alleged “unauthorised and illicit” communication during Slater and Gordon’s purchase of Quindell’s legal arm.
10 August 2020
Virgin Atlantic gets interim US recognition of UK proceedings
A New York court has granted interim relief for Virgin Atlantic, finding it had shown a “substantial likelihood” that its landmark UK restructuring plan would be recognised under Chapter 15.
10 August 2020
Travelex completes restructuring with pre-pack administration
London-headquartered foreign exchange company Travelex has completed its restructuring after joint administrators from PwC were brought in to sell some of the group’s UK entities to its senior secured noteholders.
07 August 2020
Malta first: winding-up stayed in the face of bona fide dispute
In a first of its kind ruling, a Maltese court has stayed a winding-up application against local aircraft conversion company Eolia, finding evidence of a bona fide dispute.
06 August 2020
Seddons hires Brown Rudnick partner in London
London firm Seddons has recruited a partner from Brown Rudnick with credits on the cross-border restructurings of Arcapita, Lehman Brothers and Toys R Us.
05 August 2020
Virgin Atlantic seeks Chapter 15 recognition of English proceedings
Hours after its successful convening hearing in the UK, Virgin Atlantic filed for Chapter 15 recognition of its English restructuring plan in New York.
05 August 2020
Virgin Atlantic allowed to convene UK restructuring plan meetings
Virgin Atlantic is set to hold creditors’ meetings on its restructuring plan, the first to be implemented under the UK’s new Corporate Insolvency and Governance Act, following an English court ruling.
04 August 2020
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