Regional news: Europe

Irish court refuses to recognise Monsoon’s English CVA

An Irish court has refused to recognise an English company voluntary arrangement for UK fashion retailer Monsoon Accessorize, finding Irish landlords should have been represented in the approval process.

21 October 2020

Universality and comity: the Royal Court of Jersey and Lydian International

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

Gibraltar court throws out St Vincent conspiracy claim

A Gibraltarian businessman who accuses his former lawyer of liquidating his company in the Caribbean to frustrate breach of legal privilege proceedings against her, will not have his claims heard locally, after a court found it lacked jurisdiction to hear his conspiracy tort.

20 October 2020

Sunbird faces another creditor battle with new scheme

Flexible workplace provider Sunbird has devised a new scheme of arrangement after an English court rejected its original one as “misleading” last month – but its already facing opposition to its plans to place creditors in a single class.

19 October 2020

Settlement clears way for oil major Noble's Chapter 11 plan

London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.

19 October 2020

Ashurst promotes restructuring lawyer in Germany

Ashurst has promoted a new partner in its restructuring and special situations practice in Germany.

19 October 2020

Failure to notify floating charge holder does not void administration, English court rules

An English court has ruled that a failure to notify a floating charge holder of an administration does not invalidate the proceedings, after considering conflicting case law on the issue.

16 October 2020

Baker McKenzie launches Polish restructuring practice

Baker McKenzie has brought in lawyers from Clifford Chance and local firm Wardyński & Partners to lead its new restructuring practice in Poland.

16 October 2020

New Look blocked from “premature” Irish examinership

UK retailer New Look has been prevented from entering examinership in Ireland, after a court found it had wrongly claimed to be facing imminent insolvency and ordered it to negotiate with disgruntled landlords.

15 October 2020

Oil driller KCA Deutag allowed to convene English scheme meeting

A court in London has convened a single meeting of creditors for a scheme of arrangement restructuring US$1.9 billion of international oil and gas drilling company KCA Deutag's debt - after asking its counsel to be cautious of increasing work fees.

15 October 2020

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