Regional news: Europe
AlixPartners appointed as receivers over Telegraph’s parent company
The Bermudian parent company of UK broadsheet the Telegraph has been placed into receivership by the Bank of Scotland as it seeks to recover a £1 billion (US$1.2 billion) debt owed by the newspaper’s Barclay family owners.
09 June 2023
Evan Group enters insolvency after cross-border StaRUG fails
Malta-registered real estate company Evan Group has filed insolvency proceedings in Düsseldorf after the failure of a German StaRUG process it launched last year.
08 June 2023
Paul Hastings partner joins growing Freshfields team
Freshfields Bruckhaus Deringer has continued its recent hiring spree with the addition of a Paul Hastings partner who it says will help grow the firm’s judicial and debtor capabilities in Paris.
02 June 2023
Cash machine manufacturer plans parallel Ch11 and WHOA
Cash-strapped cash machine manufacturer Diebold Nixdorf has signed a restructuring support agreement with key creditors, as it set its sights on finishing a pre-packaged Chapter 11 and Dutch scheme within 80 days, with help from Jones Day and Jackson Walker.
31 May 2023
Morses Club’s scheme gets the greenlight
The UK’s largest door-to-door pay day lender has secured sanction of its English scheme to deal with redress claims from 636,000 potential claimants.
30 May 2023
Shipping group’s rescue plan buoyant after courts bless parallel English scheme and Dutch WHOA
Shareholders who hoped to block the restructuring of shipping group Vroon have failed in their attempt, after courts blessed the interlinked Dutch WHOA plan and English scheme within hours of each other today.
26 May 2023
Mittal-owned Manx company’s liquidators seek US recognition
UPDATED: The liquidators of a Manx company related to Indian businessman Pramod Mittal have sought Chapter 15 recognition in New York to investigate and pursue possible assets in the US, four years after securing English recognition.
24 May 2023
Delaware court rejects US Trustee’s bid to dismiss fee refund claim
The liquidating trustee in advertising group Videology's Chapter 11 bankruptcy has moved one step closer to securing a refund on excess fees charged by the US Trustee, eight months after launching a claim in Delaware following a landmark Supreme Court ruling that found a 2017 fee-hike unconstitutional.
23 May 2023
Gernandt & Danielsson assists Swedish property manager as distress hits local real estate
Stockholm firm Gernandt & Danielsson has helped a local residential property manager complete a US$218 million equity restructuring to help it weather plummeting property prices in Sweden.
23 May 2023
Prezzo plan sanction hearing to consider “give and take” questions
The parent of UK casual dining chain Prezzo has been permitted to convene four meetings of creditors to vote on a Part 26A restructuring plan, after reaching an agreement with the UK tax authority to leave jurisdictional issues regarding “give and take” to the sanction stage.
22 May 2023