Regional news: Europe

Metals miner files Chapter 15 case to recognise UK scheme

A Ukraine-based steel and mine holding company has filed for Chapter 15 protection in a Delaware court, blaming its troubles on the ongoing unrest in eastern Ukraine.

28 January 2016

Weil adds restructuring partner from Ashurst

Weil Gotshal & Manges has hired a partner from Ashurst in Frankfurt.

27 January 2016

Fried Frank poaches Mayer Brown joint practice head

Fried Frank Harris Shriver & Jacobson has hired the joint head of Mayer Brown’s London restructuring practice.

27 January 2016

High Court approves serve out to Guernsey for Hellas fraud hearing

The UK High Court has granted permission for liquidators of Greek telecoms company Hellas Telecommunications to serve out forms in Guernsey, as they seek to bring fraud claims against the company’s former owners – weeks after a separate Luxembourg ruling against Hellas.

21 January 2016

UK High Court adjourns bankruptcy pending Spanish liquidation

In a dispute over a €200 million debt that has already sparked liquidation proceedings in Spain, the English High Court has adjourned a bankruptcy filing against a property mogul, finding that it would only benefit two Luxembourg-based funds at the expense of other creditors.

13 January 2016

ECJ clears up clawback confusion in cross-EU cases

The European Court of Justice recently issued a preliminary ruling on the use of the EU Insolvency Regulation’s article 13 to defend a clawback action, in the case of an insolvent Finnish sports brand and the Dutch arm of Nike.

16 December 2015

MoFo grows London practice as it seeks to set up cross-border hub

Morrison & Foerster has hired two partners in its London restructuring practice, as it seeks to make the office a hub for cross-border work.

16 December 2015

Willkie Farr hires from Paul Hastings in Paris

Willkie Farr & Gallagher has hired partner Lionel Spizzichino from Paul Hastings in Paris.

16 December 2015

Abengoa could become Spain’s largest ever bankruptcy as it files for insolvency

Spanish renewable energy company Abengoa has begun insolvency proceedings in a Seville court and hired Linklaters as counsel, as minority shareholders demand compensation from the group for not informing them of its plans.

16 December 2015

Italy speeds through bank rescue plan before EU rules apply

Italy has announced emergency plans to restructure four “bad banks”, weeks before new European bank rescue regulations come into force.

16 December 2015

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