Regional news: Europe
Japan’s Anderson Mori & Tomotsune launches in London with restructuring work on the agenda
“I want to enhance our recognition in London, the UK and Europe,” Anderson Mori & Tomotsune’s new London office head - who worked on the Virgin Australia airline restructuring at the height of the covid-19 pandemic - tells GRR.
05 September 2022
Kepler-Karst adds partner in Madrid
Spanish insolvency boutique Kepler-Karst has hired a former partner from Martínez-Sanz Abogados, who tells GRR that she expects “great changes” ahead as a result of recent amendments to the Spanish restructuring law.
02 September 2022
Cinema chain Vue obtains new financing ahead of pre-pack
European cinema chain Vue International has received unanimous consent from its lenders for a new super priority loan facility it hopes will allow it to pursue a wider financial restructuring through a pre-packaged administration.
31 August 2022
Latham and Paul Weiss advising as global lighting group files Ch11 pre-pack
Netherlands-headquartered lighting group Lumileds has filed for bankruptcy in New York, a day after entering a restructuring supporting agreement with lenders to slash US$1.3 billion in debt.
30 August 2022
Nostrum scheme sanctioned in London
Kazakhstan-focused oil and gas group Nostrum has secured sanction of its English scheme, despite two Russian bank creditors being unable to vote due to sanctions imposed following the war in Ukraine.
26 August 2022
Houst’s UK restructuring plan: the shape of things to come for distressed SMEs?
McDermott Will & Emery partner Mark Fine and senior associate Nick Jupp discuss property manager Houst’s UK restructuring plan and say it may pave the way for more SMEs to use the new tool instead of company voluntary arrangements or administrations.
25 August 2022
Global construction group completes “landmark” pre-pack in Spain
In one of the fastest pre-pack sales since the concept was introduced in Spain two years ago, global construction group Urbas has secured court approval to acquire the production unit of Spanish architecture group Ingeser.
23 August 2022
European column: Appeal to ignorance of insolvency
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, asks a complex question arising from a simple, everyday occurrence: is a payment to someone residing or located in another EU member state, who is already insolvent, legally valid?
22 August 2022
Cross-border restructurings and the post-Brexit UK regime
Brexit threatened to make the UK a less competitive cross-border restructuring market, McDermott Will & Emery’s co-head of finance, restructuring and special situations Aymen Mahmoud in London and partner Darren Azman in New York write – but the accelerated enactment of the Corporate Insolvency and Governance Act during covid-19 has ensured English law will continue to be a key international player.
19 August 2022
Sir David Richards joins UK Supreme Court
Former English High Court and Court of Appeal judge Sir David Richards, who oversaw the cross-border administration processes of Lehman Brothers and finance broker MF Global, has been appointed as a justice of the UK Supreme Court.
18 August 2022