Regional news: Europe

Eversheds partner moves to Oppenhoff in Hamburg

German firm Oppenhoff has hired the founding partner of Eversheds Sutherland’s Hamburg office, who has been advising creditors on the cross-border restructuring of wind turbine maker Senvion.

29 January 2021

Guernsey fund’s liquidators secure emergency US discovery powers

The voluntary liquidators of a Guernsey-incorporated fund have secured provisional US recognition in New York, along with powers to examine transfers made by a Delaware real estate group.

29 January 2021

DeepOcean cross-class cram-down reasons published

The High Court in London has issued its reasons for applying the UK’s cross-class cram-down mechanism for the first time earlier this month, with local lawyers describing the decision as a “game-changer”.

28 January 2021

Centerbridge-linked investor urges English court to reject Steinhoff scheme

The terms of a global settlement of litigation claims against Steinhoff are “manifestly unfair”, according to a US investor that has urged the High Court in London not to sanction the South African conglomerate’s latest scheme.

27 January 2021

Brown Rudnick settles Lyondell trustee’s malpractice suit

Brown Rudnick has reached a settlement in principle with the litigation trust of bankrupt Dutch petrochemicals group LyondellBasell, which accused the firm of malpractice in failing to claw back US$300 million from Ukrainian-born billionaire Leonard Blavatnik.

27 January 2021

Steinhoff seeks UK scheme sanction as US investor files rival Dutch action

On the first day of a sanction hearing for Steinhoff’s latest English scheme it has emerged that an opposing party affiliated with distressed investor Centerbridge Partners has filed rival proceedings under the new Dutch WHOA process.

26 January 2021

Fried Frank hires Reed Smith partner in London

Fried Frank Harris Shriver & Jacobson has hired a former Reed Smith partner in London, who has been working on the restructuring of Dutch subsea services provider DeepOcean Group.

25 January 2021

Ex-Debenhams topco wound-up as stores set to close

Debenhams’ old top company is set to be wound-up following a court hearing, while the administrators of the retailer’s current operating arms have confirmed the sale of its brand name and the closure of its stores.

25 January 2021

McDermott adds new restructuring head in London

Proskauer Rose’s former European head of restructuring Mark Fennessy has moved to McDermott Will & Emery in London, telling GRR his new firm's strong finance, corporate and litigation offering will be important in the post-Brexit world.

22 January 2021

UK’s financial regulator rapped following LCF collapse

Signature Litigation partners Paul Brehony and Abdulali Jiwaji and head of knowledge and legal services Johnny Shearman examine the impact of the recent public reprimanding of the UK’s Financial Conduct Authority for oversight failures in the collapse of mini-bond issuer London Capital & Finance.

22 January 2021

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