Regional news: Europe

Canadian tech manufacturer bankrupted over English legal fees

A UK law firm has secured a Canadian bankruptcy order against a global phone and tablet producer, following the registration of an English judgment on unpaid legal costs.

24 June 2021

Hurricane Energy’s plan needs full MOT, dissenting shareholders argue

You can’t just “kick the tyre” and say a class is out of the money, “you need to open the bonnet and allow the mechanic to take a look,” dissenting shareholders of Hurricane Energy told Mr Justice Zacaroli on the third and final day of its plan sanction hearing, which ended without a ruling.

23 June 2021

Deloitte hires Luther partner in Hamburg

INSOL Europe’s deputy president Frank Tschentscher is set to join Deloitte Legal’s Hamburg office from Luther Rechtsanwaltsgesellschaft.

23 June 2021

Judge questions relevant alternative in Hurricane Energy sanction hearing

An English court has raised questions over the “relevant alternative” that would befall UK-based oil company Hurricane Energy in the absence of its restructuring plan’s approval, as the sanction hearing continues amid shareholder objections.

22 June 2021

Mumbai NCLT approves Jet Airways rescue plan

A consortium led by UK-registered asset manager Kalrock Capital and Indian businessman Murari Lal Jalan has won approval for its plan to rescue Mumbai-based Jet Airways.

22 June 2021

KPMG challenges proposed £15 million FRC fine over Silentnight pre-pack

KPMG and its now-retired partner David Costley-Wood should not face “overly punitive” £15.5 million fines and sanctions for their conduct in the “historic” pre-pack sale of bedmaker Silentnight, South Square’s Mark Phillips QC has told a Financial Reporting Council disciplinary tribunal.

22 June 2021

Restructuring expert rejected in first for Dutch scheme

In what appears to be the first decision of its kind, a court in the Central Netherlands has rejected a request to appoint a restructuring expert over a struggling technology business.

21 June 2021

UK liquidator fights costs application by Curaçao bank director

The ex-CEO of a defunct Curaçao bank is seeking an English costs order against a UK liquidator, who allegedly drove a failed examination request by the Official Receiver to investigate fraud claims.

18 June 2021

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

NMC Healthcare’s Abu Dhabi administrators secure English recognition

The Abu Dhabi General Market administrators of NMC Healthcare have secured recognition in England, with a London court finding the group’s insolvency proceedings constituted foreign main proceedings.

16 June 2021

Get unlimited access to all Global Restructuring Review content