Regional news: Europe

Fried Frank and Shoosmiths advise on Bensons for Beds pre-pack

Turnaround specialist Alteri Investors has acquired UK retailer Bensons for Beds through a pre-packaged administration sale, with Fried Frank Shriver & Jacobson and Shoosmiths advising.

02 July 2020

NMC Health-linked KBBO appoints restructuring advisers in Abu Dhabi

Abu Dhabi-based investment group KBBO has brought in Cleary Gottlieb and local firm Hadef & Partners to advise it on a restructuring, citing concerns about its exposure to scandal-hit healthcare chain NMC Health.

01 July 2020

Alvarez & Marsal launches Swiss restructuring practice

Alvarez & Marsal has hired former KPMG director Alessandro Farsaci to build and lead its new restructuring practice in Switzerland.

01 July 2020

Policy-related complexities in parallel, cross-border insolvency and arbitration proceedings

“A party seeking to arbitrate claims against a debtor in a US bankruptcy proceeding faces an uphill climb”: lawyers from Vinson & Elkins explore some of the practical issues stemming from different policy considerations behind insolvency and arbitration laws across Europe and the US.

01 July 2020

Vitamin retailer GNC plots dual track pre-pack in US and Canada

Global nutrition supplement retailer GNC has entered Chapter 11 in Delaware and CCAA recognition proceedings in Ontario, where it will pursue a  “dual path process”.

01 July 2020

Alvarez & Marsal advising Wirecard UK while its US arm launches sale

The US subsidiary of scandal-hit payment processor Wirecard has put itself up for sale, while the group’s UK arm has hired Alvarez & Marsal as criminal investigations open up around the world.

30 June 2020

KPMG taps Linklaters as shopping centre owner falls Intu administration

Linklaters is advising administrators from KPMG appointed over shopping centre owner Intu, the London and Johannesburg-listed owner of 17 malls across the UK and at least one in Spain.

30 June 2020

British fashion retailer Matalan to hold scheme meeting and file Chapter 15

An English judge has allowed Guernsey-owned British fashion and homeware retailer Matalan to convene a scheme meeting for its creditors and apply for Chapter 15 recognition in the US.

29 June 2020

Aussie copper miner completes first guarantor’s scheme, bypasses Gibbs rule with declaration

King & Wood Mallesons has helped the parent of a copper miner complete the first guarantor’s scheme of arrangement in Australia, restructuring English law-governed debts and getting around the Gibbs rule with a declaration from an English court.

29 June 2020

African Minerals secures scheme hearing in England

African Minerals, a Bermuda-registered mining company in administration in the UK, has won court approval to hold a scheme meeting to help it resolve a creditor conflict about whether it should pursue claims against a Chinese steel group.

29 June 2020

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