Regional news: Europe
English court sanctions China Fishery’s restructuring plan
A Peruvian arm of industrial fishing group China Fishery has secured sanction of its UK restructuring plan, after dealing with bankruptcy petitions filed against it in Peru that caused a year-long delay.
13 September 2022
Two new European partners for White & Case
White & Case has bolstered its debt finance and restructuring offerings with new recruits from Herbert Smith Freehills in Madrid and Schalast in Hamburg.
13 September 2022
Nord Stream 2 pipeline wins moratorium extension until January
The Swiss parent company of ill-fated offshore natural gas pipeline Nord Stream 2 has successfully obtained an extension of bankruptcy protection after sanctions imposed on Russia withered hopes the pipeline would secure the approval needed to operate.
12 September 2022
Cineworld’s secures interim DIP facility
Struggling British entertainment conglomerate Cineworld has received approval to access part of its proposed debtor-in-possession financing but a Texas judge has refused to grant the full package without amendments.
09 September 2022
Citibank wins appeal over US$900m Revlon blunder
A US federal appeals court has ruled that New York-headquartered Citibank can recover about US$500 million it mistakenly paid to lenders of bankrupt multinational cosmetics group Revlon two years ago.
09 September 2022
Kirkland, Jackson Walker and Slaughters advising London-based Cineworld in Texas Ch11
British film entertainment conglomerate Cineworld has brought in Kirkland & Ellis, AlixPartners, Jackson Walker and Slaughter and May to advise on its Chapter 11 filed yesterday, where the curtain has already come down on immediate approval of a proposed US$2 billion debtor-in-possession financing.
08 September 2022
Alvarez & Marsal launches Scottish restructuring group
Continuing its recent expansion around the world, Alvarez & Marsal has opened a new office in Edinburgh led by managing director and NMC Healthcare administrator Ben Cairns.
08 September 2022
Altera faces challenge to DIP financing amid “big picture questions” over insider releases
UK-headquartered oil and gas services provider Altera Infrastructure is facing scrutiny from unsecured creditors over a proposed debtor-in-possession financing from its largest shareholder, which raises “big picture” questions on how insider dealings that could be subject to releases should be investigated.
07 September 2022
Squire Patton Boggs hires five from Brown Rudnick
After three years at Brown Rudnick, partners Charlotte Møller and Monika Lorenzo-Perez have joined Squire Patton Boggs as part of a five-strong team hire in London.
06 September 2022
Freshfields advising Naftogaz as one tranche of bondholders agrees deferral deal
Freshfields Bruckhaus Deringer has advised Ukrainian state-owned natural gas company Naftogaz on a deal reached with one tranche of Eurobond holders to defer repayments for two years – but negotiations with two more tranches are ongoing.
05 September 2022