Regional news: Europe

Alvarez & Marsal opens first Finnish office, hires from EY and Credit Suisse

Alvarez & Marsal has brought in two former EY partners to lead its new office in Finland and its Nordics restructuring practice, while its Swiss restructuring team has hired from Credit Suisse.

05 February 2021

Simpson Thacher plans London launch with double partner hire

Former Freshfields colleagues Adam Gallagher and James Watson are reuniting to establish Simpson Thacher & Bartlett’s first European restructuring practice.

04 February 2021

Lehman necessity raised in gategroup convening hearing

Counsel to Swiss airline services provider gategroup said its UK restructuring plan is capable of affecting third party rights under the Lehman necessity principle as the second day of its convening hearing played out in the High Court.

04 February 2021

Cruise port operator ordered to give more details on English scheme fees

The world’s largest cruise port operator is seeking an English court’s permission to hold a creditors’ meeting on a scheme of arrangement but has been told it must provide more information on the payment of advisers' fees.

04 February 2021

Predictions for 2021

To say the least, 2020 was a tumultuous year and its effects will be felt economically and socially for many years to come. Although 2021 promises some improvement, disruption seems inevitable. Given the many unknowns lying ahead, partners John Whiteoak and Kevin Pullen at Herbert Smith Freehills have compiled a list of themes for GRR readers to look out for in the UK in the coming year.

04 February 2021

Swiss airline group seeks convening hearing for English restructuring plan

In a case that will examine whether the Lugano Convention's bankruptcy exemption applies to the new English restructuring plan, lawyers acting for Swiss airline services provider gategroup have applied to convene a meeting for a single class of creditors, telling the High Court they had to forum shop because “we can’t do this anywhere else”.

03 February 2021

Hogan Lovells, BBLM, Norton Rose and Kvale close €3 billion Bourbon Group restructuring

A long list of law and advisory firms have helped maritime transport group Bourbon complete the first-ever judicial takeover by creditors of a French publicly listed company in rehabilitation proceedings, in a two-year, multi-step transaction overseen by a court in Marseilles.

03 February 2021

Maples hires in Hong Kong and Cayman Islands, promotes in London

The former head of Freshfields’ Asia restructuring practice and an English-qualified barrister have joined Maples Group as partners in Hong Kong and the Cayman Islands, while the firm has also promoted in London.

02 February 2021

English scheme sanctioned for Norwegian oil services group

The holding company for a Norwegian seismic imaging group has secured an English scheme of arrangement that allows it to restructure debt formerly governed by New York law.

02 February 2021

Barcelona judges release pre-pack guidelines

Three months after approving Spain’s first pre-packaged asset sales, the commercial courts of Barcelona have issued a set of basic guidelines for conducting the process – and local lawyers tell GRR they expect other courts to follow suit.

01 February 2021

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