Regional news: Europe

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

Trade creditors approve Virgin Atlantic’s restructuring plan

Creditors have approved Virgin Atlantic’s ground-breaking restructuring plan at four virtual meetings, with 99% of trade creditors lending their support.

25 August 2020

Paul Hastings expands again with two in London

Paul Hastings has hired a partner from Shearman & Sterling’s European finance team, and an infrastructure partner from Ashurst with credits on the Thomas Cook and British Steel restructurings.

25 August 2020

Hema scheme approved in England

The High Court in London has sanctioned Dutch retailer Hema’s English scheme of arrangement, allowing it to restructure €600 million of senior secured notes as part of a comprehensive, multi-jurisdictional financial restructuring.

24 August 2020

Mumbai tribunal appoints IP over Reliance chair Ambani’s assets

A tribunal in Mumbai has appointed an insolvency professional to manage the assets of Anil Ambani, chair of the Reliance telecoms group, after hearing arguments that Chinese banks who sued him in the UK could attach his assets before Indian creditors.

24 August 2020

Isle of Man investment company seeks US recognition

An Isle of Man-incorporated investment company is seeking Chapter 15 recognition of its creditors’ voluntary liquidation, following a “lack of cooperation” that has prevented its liquidators from investigating the company’s US assets.

24 August 2020

Kirkland, FRP advise in administration of Debenhams’ parent

Members of FRP Advisory have been appointed administrators of Debenhams’ creditor-owned parent company with an eye towards winding it up, amid the continuing administration and potential sale of its operating entities.

24 August 2020

Hema seeks US recognition after creditors back UK scheme

Dutch retailer Hema has asked a New York court to recognise its UK scheme of arrangement, hours after a majority of scheme creditors voted to approve it.

21 August 2020

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