Regional news: France

VanMoof bought out of bankruptcy after securing Ch15 stay

A subsidiary of motorsport technology company McLaren Applied has agreed to buy Dutch e-bike manufacturer VanMoof out of bankruptcy, two days after the company secured a temporary Chapter 15 stay to halt an injury claim brought against a non-debtor subsidiary in New York.

31 August 2023

VanMoof seeks Ch15 recognition to stay New York personal injury suit

A global bicycle manufacturer is seeking US recognition of its Dutch bankruptcy and an emergency order to stay a personal injury lawsuit brought against it in New York.

23 August 2023

French court approves first major cross-class cramdown in Orpea sanction

In the first major case in France to utilise a cross-class cramdown since the country adopted the EU's preventive frameworks directive, care home operator Orpea has obtained sanction of its accelerated safeguard plan, successfully cramming down a group of dissenting convertible bondholders known as the Support Club.

26 July 2023

Casino reveals rescue bids as shareholders set to be wiped out

French supermarket group Casino is considering two rescue bids that it said will “massively” dilute shareholders’ equity as its conciliation proceedings continue in Paris.

06 July 2023

Dissenting creditors claim vote on Orpea plan was “unlawful”

A group of French care home operator Orpea’s international creditors have claimed a vote in favour of its restructuring plan by six classes of creditors last month was unlawful, after an appeal court ordered the company to partially change its class composition.

05 July 2023

Orpea unsecured creditors seek “tailored” discovery in the US

Some of care home operator Orpea’s international creditors have brought their fight against its French restructuring to Delaware, where they are seeking discovery from a member of a steering committee they allege will be “arbitrarily enriched” to the detriment of other creditors and equity investors.

22 June 2023

Objection to Orpea’s restructuring may trigger France’s first major cross class cramdown

A group of international creditors is challenging care home operator Orpea’s French restructuring plan, potentially opening the door for what could be the first major cross-class cramdown in France since it adopted the European directive on preventive restructuring frameworks in 2021.

13 June 2023

Paul Hastings partner joins growing Freshfields team

Freshfields Bruckhaus Deringer has continued its recent hiring spree with the addition of a Paul Hastings partner who it says will help grow the firm’s judicial and debtor capabilities in Paris.

02 June 2023

Squire Patton Boggs continues European recruitment drive

The head of Glaisyers’ restructuring group has joined Squire Patton Boggs in Manchester, adding to a growing practice that has also welcomed a Brown Rudnick team in London and a partner in Paris in recent months.

09 May 2023

Weil Distress Index: UK market shows the most distress in Europe

The UK is showing more signs of distress compared to other parts of Europe and is the only major European economy still expected to enter a recession this year, Weil Gotshal & Manges’ latest Distress Index figures confirm, as they suggest distress has eased in most other key European countries.

30 March 2023

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