Regional news: Europe

Vneshprombank investor asks English court to deny Russian bankruptcy recognition

Russian banker Georgy Bedzhamov has asked an English court to refuse recognition of his Russian bankruptcy, claiming in cross-examination this week that a loan guarantee on which the bankruptcy rests was forged.

07 October 2022

FTI appoints managing director from Interpath in London

Interpath Advisory director Lucy Brocklebank has rejoined FTI Consulting in London, building on the firm’s recent expansion around the world.

07 October 2022

Weil distress index: high interest rates to call time on "amend-and-extend"

Amend-and-extend transactions will not survive in an era of high interest rates, according to Weil Gotshal & Manges partner Andrew Wilkinson, who was speaking at the launch of Weil’s latest European distress index.

06 October 2022

UK Supreme Court hands down “momentous” creditor duty decision

Lawyers have welcomed a much-anticipated ruling from the UK’s highest court, which has provided guidance for the first time on the duties owed by directors to creditors prior to a company entering insolvency.

05 October 2022

Europe column: towards a review of the Dutch IP profession

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, calls for a better legislative balance for the IP profession in the Netherlands.

05 October 2022

ADGM court issues US$1bn freezing order against former NMC chief

Abu Dhabi Commercial Bank has secured a worldwide freezing order against the former CEO of Middle Eastern healthcare group NMC, who it accuses of being part of a major fraud that led to the group’s collapse.

05 October 2022

A&M seeks directions over energy obligations as five-day hearing begins

The liquidators and administrators of 10 UK energy suppliers are seeking directions from the English High Court over "hitherto unidentified questions" about obligations owed under the statutory regime governing the supply of electricity and how such obligations should be treated in an insolvency.

04 October 2022

Sandton Capital expands London team with Teneo hire

Private equity and complex situations investor Sandton Capital Partners has added Teneo restructuring manager Tsvi Lewis to its London team.

04 October 2022

Fuelling distress: Europe’s €500 billion energy crisis

Europe is facing an energy price crisis that has the potential to cause a flurry of restructuring and insolvency activity across the continent’s corporate sector. GRR spoke to insolvency practitioners across six key European jurisdictions to see which sectors are already showing distress, what policy makers are doing to try to counter it, and whether they think the policy-makers will be successful.

30 September 2022

Cineworld to seek Ch11 recognition in UK and Turkey, stay imposed in Canada

Canadian cinema chain Cineplex has failed to modify a Chapter 11 stay so an Ontario court can hear an appeal over its botched merger with bankrupt British film conglomerate Cineworld, as a Texas bankruptcy judge expressed disappointment creditors outside the US “feel they are not bound by the worldwide injunction imposed by Congress”.

29 September 2022

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