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An individual investor in Greek sovereign debt has failed on appeal to challenge the imposition of the country’s 2012 restructuring on “mom and pop” bondholders, after the EU’s General Court upheld an earlier ruling that decisions taken by an intergovernmental body within the Eurozone cannot be attributed to the EU.
19 July 2023
Greek glass and refrigeration group Frigoglass has completed its second restructuring in six years with a deal that will see noteholders take majority control of the group.
03 May 2023
Weeks after three noteholders filed an involuntary Chapter 7 proceeding against Greek shipping group Eletson, a New York court has lifted the resultant automatic stay to allow the alleged debtor to move forward with an arbitration.
17 April 2023
24 March 2023
After 11 years of trying, an assignee of certain Hellas bondholders has finally been allowed to pursue claims against the group’s former private equity investors, who it claims forced the Greek telecoms company to “commit business suicide” by overleveraging itself to pay them billions in dividends.
28 October 2022
Greek firm Potamitis Vekris has helped Athens-headquartered jeweller Folli Follie secure sanction of a long-anticipated rehabilitation agreement with creditors advised by Greenberg Traurig - four years after a forensic audit found the company’s Asian sales had been inflated by more than US$1 billion.
31 January 2022
UK corporates experienced the highest levels of relative distress in Europe during the pandemic, a new study from Weil Gotshal & Manges has found, with liquidity pressures now rising as governments roll back financial stimulus measures.
16 December 2021
Shareholders of Greek ship fuel supplier Aegean Marine Petroleum Network have reached a partial settlement with PwC’s Greek arm, bringing an end to claims the auditor failed to spot a US$300 million fraud before the company’s bankruptcy.
12 November 2021
Scandal-hit Greek jewellery retailer Folli Follie has announced a preliminary deal with an ad hoc group of unsecured creditors to restructure its outstanding debt.
28 November 2019
Sidley Austin pharmaceuticals client Famar has completed a €174 million debt restructuring in Greece with support from a KKR bad loan management platform advised by Weil Gotshal & Manges.
13 December 2018
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