Regional news: Europe

GRR Live, Women in Restructuring: in pictures

Around 140 women from around the world joined GRR for its first Live event after a long, covid-related hiatus, on 9 June. Click on the headline for pictures.

10 June 2022

Spanish asset manager wins English scheme sanction

UPDATED: A Madrid-based asset manager linked to US private equity group Cerberus Capital Management has secured sanction of its English scheme of arrangement, with a pre-insolvency process set to follow in Spain to complete its restructuring.

09 June 2022

GFG Alliance companies face winding up

Three companies in Sanjeev Gupta’s GFG Alliance are facing winding up petitions in England following finance group Greensill’s collapse, after the High Court found coronavirus-related restrictions on petitions do not apply.

09 June 2022

Swedish government rejects further capital injection in SAS

A week after Scandinavian Airlines revealed plans to convert US$2.1 billion of its debt into equity and raise almost US$1 billion of cash, the Swedish government announced it will not inject new capital into the struggling company.

08 June 2022

Proskauer recruits veteran Clifford Chance partner in London

A long-time partner of magic circle firm Clifford Chance, who advised Dubai World Dry Docks on the restructuring of its US$2.2 billion international debt, has joined Proskauer Rose in London.

08 June 2022

Ukrainian bank declared insolvent

Ukraine’s banking regulator has declared Kharkiv-based Megabank insolvent for failing to comply with Ukrainian laws and regulations, rejecting claims that its problems were caused by Russia’s military aggression.

07 June 2022

South Square’s Riddiford moves to Essex Court

Alexander Riddiford, who served as junior counsel to the administrators of Lehman Brothers’ main European arm in its Waterfall litigation, has joined Essex Court Chambers.

07 June 2022

Akin Gump partner joins Weil in London

Weil Gotshal & Manges has hired London-based Akin Gump Strauss Hauer & Feld partner Lois Deasey, who brings with her experience working on the restructurings of Premier Oil, Noble Group and Avanti Communications.

06 June 2022

UK proposes new insolvency regime for stablecoin failures

Insolvency practitioners have welcomed UK government proposals to introduce a regime to manage stablecoin failures, with one adviser telling GRR the move presents an opportunity for the UK to become a global leader in the crypto space.

01 June 2022

“The scheme lives on”: landmark Amigo judgment released

A week after sanctioning subprime lender Amigo’s landmark scheme, Mr Justice Trower has released his judgment, which counsel to the group says is good for creditors, the company, future lenders and the English restructuring market.

31 May 2022

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