Regional news: Europe

Restructuring mechanisms in France and recent developments

Featured in Europe, Middle East and Africa Restructuring Review 2023

24 March 2023

England and Wales: overview of restructuring mechanisms and recent developments

Featured in Europe, Middle East and Africa Restructuring Review 2023

24 March 2023

Introduction

Featured in Europe, Middle East and Africa Restructuring Review 2023

24 March 2023

European fashion retailer files protective shield proceedings in Germany

German department store chain Peek & Cloppenburg is seeking insolvency protection in Düsseldorf to “accelerate” a pre-existing restructuring process it launched in the face of covid-19 and Russia’s invasion of Ukraine.

23 March 2023

Grant Thornton director joins Interpath in London

Interpath Advisory has hired a long-time Grant Thornton director in London who brings with him experience acting as a trustee in several high-profile Russian personal bankruptcies.

22 March 2023

Comet liquidator secures partial release of £89m unfair preference judgment award

The liquidator of insolvent electronics group Comet has secured an order from the English High Court releasing a portion of an £89 million judgment awarded to him, pending an appeal of what was thought to be the largest unfair preference claim ever brought before the court.

21 March 2023

Legal action threatened as bondholders lose US$17bn in Credit Suisse takeover

Lawyers and investors tell GRR the takeover of troubled Swiss bank Credit Suisse by UBS could lead to the end of the market for Additional Tier 1 bank debt, with bondholders set to lose US$17 billion through the deal announced this weekend.

20 March 2023

Sullivan & Cromwell advising as SVB parent files Ch11

The parent company of Silicon Valley Bank, which was taken over by US regulators following its collapse last week, has sought bankruptcy protection in New York while it explores a potential sale of its remaining assets.

17 March 2023

Energy broker’s UK plan sanction adjourned following HMRC complaints

The High Court in London has adjourned a sanction hearing for an English energy supply contract broker’s restructuring plan following complaints by the UK’s tax authority and three allegedly out-of-the-money creditors.

17 March 2023

Ukraine can defend Russia bond default, UK Supreme Court rules

The UK’s highest court has ruled that Ukraine can defend its non-payment of a US$3 billion Eurobond debt to Russia at a full trial, after finding it has an arguable and justiciable defence of duress.

15 March 2023

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