Regional news: Europe
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
US courts grant emergency recognition of Canadian and English proceedings
A global group of satellite technology companies has secured preliminary US recognition of its Canadian restructuring in Minnesota despite creditor objections – while Swiss vending machine company Selecta has secured the same relief for its English scheme of arrangement in Texas.
12 October 2020
White & Case announces new partner promotions
Five lawyers with restructuring experience have been promoted to partners in White & Case's London, New York, Frankfurt and Paris offices, effective from January 2021.
12 October 2020
UK announces connected pre-pack scrutiny laws
The UK government has revealed plans to introduce independent scrutiny of pre-pack administration sales to connected parties, after promising a review this summer: a move that lawyers and practitioners tell GRR will improve transparency, but requires balance.
08 October 2020
Hogan Lovells adds new partners in Singapore and Paris
Hogan Lovells has hired a new restructuring partner in Singapore from K&L Gates, and welcomed back a former member of its Paris employment practice with restructuring experience.
06 October 2020
Codere’s English scheme sanctioned after creditor drops opposition
An English court has sanctioned a scheme of arrangement for Spanish gaming company Codere, after a Cayman creditor withdrew its opposition and voted to approve it.
06 October 2020
KLM asks Dutch government to green-light restructuring plan
With help from Allen & Overy, the Dutch arm of airline group Air France-KLM has submitted a restructuring plan to the Netherlands Ministry of Finance in the hope of securing a rescue package worth €3.4 billion.
05 October 2020
Condor seeks recognition of German proceedings in US and Mexico
German airline and former Thomas Cook subsidiary Condor is seeking Chapter 15 recognition of its protective shield proceedings in Frankfurt to stop a trio of litigations in the US that it says contravene German law.
05 October 2020
Get unlimited access to all Global Restructuring Review content