Regional news: Europe
VanMoof seeks Ch15 recognition to stay New York personal injury suit
A global bicycle manufacturer is seeking US recognition of its Dutch bankruptcy and an emergency order to stay a personal injury lawsuit brought against it in New York.
23 August 2023
English court sanctions Taiwanese energy group’s restructuring plan
UPDATED: German-owned Taiwanese offshore wind project company Yunneng Wind Power has secured sanction of an English restructuring plan that will give it access to €1.7 billion in new money.
22 August 2023
Chilean wind project companies seek Ch11 protection amid “global litigation campaign”
The Irish founder of a Chilean renewable energy group has moved to dismiss an “unusual” Chapter 11 petition filed by administrators purportedly appointed by its US lenders, in an escalation of an ownership dispute that has been playing out in the US, Chile, Ireland and Spain.
22 August 2023
The UK's Cross-Border Insolvency Regulations 2006: the importance of timely recognition
Mayer Brown partners Devi Shah and Stephen Moi and counsel Alexandra Wood consider the lessons learned from an English court decision earlier this year in which a foreign judgment creditor was able to enforce a third-party debt order against a Lithuanian debtor’s English assets, after the debtor’s Lithuanian insolvency administrator had applied for recognition in the UK.
22 August 2023
Scottish energy company calls in administrators after permitting issues in Nova Scotia
Edinburgh-based Sustainable Marine Energy has entered administration in England, blaming problems at its Canadian subsidiary caused by its failure to obtain permits from the Canadian government.
18 August 2023
UK-based healthcare group to liquidate US assets
British AI-powered health services provider Babylon Healthcare is seeking to liquidate its assets through a Chapter 7 proceeding in Delaware after a Swiss healthcare technology company failed to save the business through an attempted takeover of its core operating subsidiaries.
17 August 2023
Bondholders take over European fashion retailer Takko Fashion
Germany-headquartered retailer Takko Fashion has completed a debt-for-equity restructuring with Simpson Thacher, Gleiss Lutz, Clifford Chance, Loyens & Loeff, PJT Partners, Freshfields and Arendt all taking roles.
15 August 2023
Will the UK Supreme Court’s PACCAR decision impact the contentious insolvency industry?
The UK Supreme Court recently issued a decision in PACCAR v Competition Appeal Tribunal, finding that most litigation funding agreements in the UK could be classified as damages-based agreements that are subject to higher levels of regulation. Contentious insolvency lawyers and litigation funders talk to GRR about the consequences for the sector.
15 August 2023
Heuking Kühn Lüer Wojtek advising IT consultancy Softline on new StaRUG
A German district court has appointed Professor Lucas Flöther as restructuring officer to oversee a new StaRUG for the local arm of global IT consultancy Softline, which will see its majority shareholder take it over.
14 August 2023
Europe column: can digital data be the subject of property rights?
Bob Wessels discusses a recent case of the Netherlands Commercial Court on whether digital data can be legally owned.
11 August 2023