Regional news: Europe

Amigo proposes new schemes to avoid collapse

Six months after the English High Court rejected its scheme of arrangement, struggling subprime lender Amigo has announced two new potential schemes and warned it expects to file for administration if one of them isn’t approved.

01 December 2021

Carillion directors claim disqualification proceeding is “oppressive”

Non-executive directors of collapsed construction company Carillion have told an English court that disqualification claims brought against them are “oppressive” and evidence submitted by the UK government is “ill-founded”.

30 November 2021

Swissport administration comes to an end

The administrators of Swissport’s Luxembourg-incorporated former parent have secured discharge orders from the High Court in London, despite there being no process available for them to dissolve the company in its home jurisdiction.

29 November 2021

The corporate reality in Spain post-pandemic

Spain gained experience from its previous crisis in 2008 and now has the tools and the players to face the challenges ahead, a panel of experts recently agreed – predicting that although the need for restructuring remains high, there will not be an avalanche of insolvency proceedings because of covid-19. Professor Rodrigo Olivares-Caminal reports.

29 November 2021

Interpath hires from AlixPartners

Interpath Advisory has hired a managing director with experience working on the liquidation of British travel agent Thomas Cook and the restructuring of Chinese solar-parts manufacturer LDK Solar Co.

25 November 2021

Dutch scheme fails after inadequate disclosure on new money financing

A Dutch court has declined to sanction a nursing home manager’s WHOA schemes, finding that it failed to provide sufficient information about a new money financing and incorrectly classified the creditor proving it in a way that influenced voting outcomes.

24 November 2021

Former Patisserie Valerie administrators seek declaratory relief

UPDATED: Café chain Patisserie Valerie’s former KPMG administrators have asked a UK court to declare valid their decision to put the group into creditors’ voluntary liquidation in late 2019 without actually consulting all creditors, amid a costs dispute with FRP – the chain’s now-compulsory liquidators.

23 November 2021

German bondholders bemoan real estate group’s Austrian restructuring

A Frankfurt and Vienna-listed real estate group has launched restructuring proceedings in Austria, frustrating bondholders pursuing an insolvency petition against it in Germany.

23 November 2021

Boies Schiller heir apparent to launch new London firm

Pledging to “rip up the rule book” and challenge the status quo, the former deputy chair of Boies Schiller Flexner is leaving the New York litigation shop to launch her own disputes offering in London.

22 November 2021

KPMG faces Carillion negligence claim

Quinn Emanuel Urquhart & Sullivan is advising the UK’s Official Receiver on a professional negligence claim against KPMG over its auditing of collapsed construction services group Carillion.

22 November 2021

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