Regional news: Europe

Bulgarian agriculture group seeks recognition amid “aggressive” New York litigation

The local lawyer of a defunct Bulgarian agricultural group has sought Chapter 15 recognition of its insolvency proceedings in New York to stay litigation from a US commodities futures merchant that she claims is “undermining” the authority of the Bulgarian court and subverting fundamental legal principles.

16 June 2022

Holiday lettings SME secures six meetings for UK restructuring plan

A holiday lettings management services business impacted by covid will be the next SME to make use of a Part 26A restructuring plan in the UK, after securing a convening order for five creditors’ meetings and one members’ meeting to take place at the end of this month.

15 June 2022

Heads-Up: Sylwia Maria Bea at Norton Rose Fulbright in Frankfurt

Featured in Heads-Up

The co-leader of Norton Rose Fulbright’s EMEA restructuring group Sylwia Maria Bea discusses the new German insolvency law StaRUG, her role setting up a women-only restructuring association and why ESG considerations should become more widespread over the rest of the year.

14 June 2022

GRR Live, Women in Restructuring: is it 2007 all over again?

A 50% chance of a “shallow” recession next year, or 2007 all over again? Leading women in restructuring came together at GRR’s first live event in two and a half years to debate what lies ahead for practitioners and clients, amid skyrocketing inflation, post-covid supply chain issues and war in Europe.

10 June 2022

GRR Live, Women in Restructuring: in pictures

Around 140 women from around the world joined GRR for its first Live event after a long, covid-related hiatus, on 9 June. Click on the headline for pictures.

10 June 2022

Spanish asset manager wins English scheme sanction

UPDATED: A Madrid-based asset manager linked to US private equity group Cerberus Capital Management has secured sanction of its English scheme of arrangement, with a pre-insolvency process set to follow in Spain to complete its restructuring.

09 June 2022

GFG Alliance companies face winding up

Three companies in Sanjeev Gupta’s GFG Alliance are facing winding up petitions in England following finance group Greensill’s collapse, after the High Court found coronavirus-related restrictions on petitions do not apply.

09 June 2022

Swedish government rejects further capital injection in SAS

A week after Scandinavian Airlines revealed plans to convert US$2.1 billion of its debt into equity and raise almost US$1 billion of cash, the Swedish government announced it will not inject new capital into the struggling company.

08 June 2022

Proskauer recruits veteran Clifford Chance partner in London

A long-time partner of magic circle firm Clifford Chance, who advised Dubai World Dry Docks on the restructuring of its US$2.2 billion international debt, has joined Proskauer Rose in London.

08 June 2022

Ukrainian bank declared insolvent

Ukraine’s banking regulator has declared Kharkiv-based Megabank insolvent for failing to comply with Ukrainian laws and regulations, rejecting claims that its problems were caused by Russia’s military aggression.

07 June 2022

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