Regional news: Europe

Swissport makes swap pact with ad hoc group, envisages further schemes

Following its UK scheme earlier this year, airline services group Swissport has reached a new agreement to convert or extinguish €1.9 billion in liabilities and gain €500 million in new funding.

03 September 2020

English court sanctions Virgin restructuring plan

Virgin Atlantic’s landmark restructuring plan has received court sanction, after a short, unopposed hearing in which the judge pressed for “respectable commercial reasons” why some trade creditors had been excluded.

02 September 2020

Mayer Brown hires partner from K&L Gates in London

The former EMEA practice group coordinator for K&L Gates’ restructuring and insolvency group has joined Mayer Brown in London, continuing the firm’s recent hiring spree.

02 September 2020

Creditors approve ED&F Man’s UK scheme

International commodity trader ED&F Man has secured unanimous backing for its UK scheme of arrangement during two creditors’ meetings.

02 September 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 2020

London advisory firm Avonhurst hires MoFo partner

One-year-old political strategy and legal advisory firm Avonhurst has hired a cross-border restructuring partner from Morrison & Foerster in London to join its growing team.

01 September 2020

Neiman Marcus sues creditors committee co-chair over bid “coercion”

Luxury department store chain Neiman Marcus is suing its largest unsecured creditor, which the US trustee has accused of coercing a rival bidder into dropping its interest in a Chapter 11 asset acquisition.

28 August 2020

Greenberg Traurig expands London restructuring practice

Greenberg Traurig has hired the former co-head of Dorsey & Whitney’s London banking practice Helena Nathanson as a shareholder.

26 August 2020

Nortel’s Polish arm to end decade-long administration

The joint administrators of Nortel Networks Polska have secured termination and discharge orders from the High Court in London to bring an end to its 11-year administration in England.

26 August 2020

Sunbird seeks scheme sanctioning in England despite creditor objections

Creditors of a group that provides flexible workspaces in Africa are challenging its English scheme of arrangement, arguing they have been given “materially incomplete and inadequate” information.

26 August 2020

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