Regional news: Europe
Hong Kong Airlines completes dual Hong Kong-UK restructuring
Just five days after its English restructuring plan was approved, Hong Kong Airlines has secured sanction of its Hong Kong scheme of arrangement, marking the first time that parallel English plan and Hong Kong scheme proceedings have been successfully used to restructure Hong Kong, PRC and English law-governed debts.
15 December 2022
New hires for Boies Schiller in London and New York
Boies Schiller Flexner has recruited new partners in London and New York, seeking to strengthen its cross-border financial and insolvency offering after its old practice group left the firm en masse to launch disputes boutique Pallas Partners earlier this year.
15 December 2022
Bahraini bank’s liquidators seek recognition in Cayman and England
Charles Russell Speechlys is seeking recognition of its appointment as liquidator of Bahraini investment bank Awal in the Cayman Islands and England, one month after a Bahraini court ordered the bank’s liquidation following a decade-long administration.
13 December 2022
Hong Kong Airlines secures English plan sanction
Crossing another hurdle in its restructuring, Hong Kong Airlines has secured sanction of an English restructuring plan, five days before its parallel Hong Kong scheme is due to be heard, after creditors dropped potential opposition.
09 December 2022
FRP launches its first international office in Cyprus
UK advisory firm FRP has opened its first international office after acquiring a Cypriot boutique firm that is working on the liquidation of Cyprus Popular Bank.
09 December 2022
EU proposes next step in harmonisation of insolvency laws
Lawyers have welcomed the European Commission’s latest proposal to harmonise insolvency laws across member states, which it says aims to encourage cross-border investment within the bloc.
08 December 2022
Court clears Credit Suisse to bring Greensill-related claim against SoftBank
Credit Suisse has convinced an English judge to let it bring a claim against Japan’s SoftBank over its restructuring of a former Greensill client, which the Swiss bank alleges deprived it of receivables and left it holding unsecured notes for which a default was inevitable.
07 December 2022
Jersey court recognises English bankruptcies of former TV boss couple
The English bankruptcy trustees for two directors of a collapsed outside broadcast equipment provider, who stand accused of orchestrating what might be the UK’s biggest ever fraud in asset-backed lending, have secured recognition of their appointments in Jersey to pursue assets in the Channel Island.
02 December 2022
Hong Kong’s Look Chan Ho called to English Bar
Cross-border insolvency specialist and Hong Kong-qualified barrister Look Chan Ho has been called to the Bar of England and Wales.
02 December 2022
Bulb Energy transfer scheme given green light
Three of the UK’s largest energy companies have failed to convince an English court it has a larger role to play scrutinising the takeover of collapsed competitor Bulb Energy, in a deal they say provides a government-funded “dowry” to British renewable group Octopus Energy.
01 December 2022