Regional news: Germany

Administrators can make Part 36 settlement offers under the UK’s Civil Procedure Rules in the context of a directions application, an English judge has ruled, in a case that reveals a dispute between Greensill’s UK and German officeholders over a €40 million fund.

20 September 2023

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

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

Germany-headquartered retailer Takko Fashion has completed a debt-for-equity restructuring with Simpson Thacher, Gleiss Lutz, Clifford Chance, Loyens & Loeff, PJT Partners, Freshfields and Arendt all taking roles.

15 August 2023

A German district court has appointed Professor Lucas Flöther as restructuring officer to oversee a new StaRUG for the local arm of global IT consultancy Softline, which will see its majority shareholder take it over.

14 August 2023

Annerose Tashiro, the former head of international resturcturings at Schultze & Braun and current INSOL International director, is moving in-house at German lithium producer AMG Lithium.

10 August 2023

The Galapagos group’s internationally contested 2019 restructuring, which left its private equity shareholder in control and high yield noteholders with nothing, was valid under the group’s English law-governed intercreditor agreement, an English court has ruled.

28 July 2023

A German-owned Taiwanese offshore wind project company has secured permission to hold five meetings of creditors for a Part 26A plan in the UK that could give it access to at least €1.7 billion in new funding to complete a major wind farm in Taiwanese waters.

26 July 2023

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

Auto parts maker Leoni’s historic StaRUG plan is now legally binding, after a German court dismissed challenges against it from disgruntled shareholders, finding they failed to show they would be worse off under the plan than in the alternative scenario.

24 July 2023