Regional news: Europe

No guarantees: Tiger Resources Unpacked

Featured in Unpacked

GRR investigates how the Australian parent of a Congolese copper miner became the first company in the common law world to implement a guarantor’s scheme of arrangement, against a “well-funded, well-advised” opposing creditor and where restructuring in the Democratic Republic of the Congo or England was deemed possible, but impractical.

12 February 2021

Mallya granted expenses pending Indian banks’ petition

One-time billionaire Vijay Mallya has secured access to funds held by an English court office to pay for his living and legal costs while he fights a bankruptcy petition – but he has been denied cash for litigation in India.

12 February 2021

Community roundup: Quantuma, Duff & Phelps, Roland Berger, FTI Consulting, Consignum and CTF Consultancy

Quantuma and Duff & Phelps have hired in London, while Germany’s Roland Berger and Consignum have expanded across the country, and FTI Consulting has promoted a new head of corporate finance and restructuring in Asia: meanwhile, a new Norway/UK boutique has opened in Oslo.

12 February 2021

Class fracture as gategroup secures plan meetings

Swiss airline services provider gategroup has secured meetings for creditors to vote on its UK restructuring plan but the High Court has rejected its request to keep all the plan creditors in a single class.

11 February 2021

Cruise port operator’s scheme convening hearing adjourned again

For the second time in a week, an English court has told the world’s largest cruise port operator to provide more information on advisers’ fees it plans to pay for noteholders under its scheme of arrangement.

11 February 2021

Goodwin hires in London and Luxembourg

A Baker McKenzie partner is set to join Goodwin’s growing private equity practice in London, while the firm has also bolstered its restructuring group in Luxembourg.

10 February 2021

Dormant insurer secures English schemes for decades-old claims

The administrators of a long-inactive UK insurance company have obtained an English court’s approval of two schemes of arrangement, allowing them to deal with historic claims held by creditors around the world.

10 February 2021

France’s FHB and BTSG takes roles as manufacturer enters safeguard

Paris-based manufacturer Vallourec has entered safeguard proceedings to reduce its €3.5 billion debt pile by more than half, with restructuring professionals from French firms FHB and BTSG taking court-appointed roles.

09 February 2021

Hogan Lovells hires in London

Hogan Lovells has hired a commercial litigation team from Debevois & Plimpton that worked on the Nortel collapse, and a new co-head for its London M&A practice from White & Case.

08 February 2021

Steinhoff scheme sanctioned

South African conglomerate Steinhoff has secured sanction of its latest English scheme after the High Court dismissed objections made by a US fund linked to distressed investor Centerbridge Partners.

05 February 2021

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