Regional news: Ireland
New Look to hold creditor vote on latest English scheme
A week after creditors backed its latest CVA, an English court has given UK retailer New Look permission to convene a single-class creditors’ meeting on an inter-conditional scheme of arrangement and seek recognition in the US.
23 September 2020
Irish scheme court lays down broad approach to jurisdiction and ancillary releases
The court that sanctioned Nordic Aviation Capital’s landmark Irish scheme has explained why it sided with recent English precedents that one locally-domiciled creditor is enough to engage the Brussels Recast regulation, and clarified its “broad” approach to third-party releases.
14 September 2020
Foreign pension investors’ claims to be heard in German group insolvency
An administrator from German law firm GÖRG will oversee the insolvencies of more than 100 entities in a group that invited pensioners from the UK, Ireland and Asia to finance the conversion of historic buildings.
03 August 2020
UK insolvency regulator names asset recovery “pioneer” as new president
The UK’s Insolvency Practitioners Association has appointed Grant Thornton’s insolvency practice leader and asset recovery “pioneer” Kevin Hellard as its new president.
21 April 2020
English court rues “significant and multiple failings” in IVA management
An insolvency practitioner at Ireland-registered personal bankruptcy firm Creditfix repeatedly breached UK insolvency legislation to promote his own interests and those of the firm, the High Court in London has ruled.
07 April 2020
Cole Schotz bolsters New York restructuring group
Cooley restructuring partner Seth Van Aalten has left the firm after 16 years to join Cole Schotz in New York.
14 February 2020
English court refers Irish bankrupt’s pensions dispute to CJEU
An English judge has asked the EU Court of Justice to decide whether a pension registered in Ireland should be exempted from a UK bankruptcy estate in the same way a UK pension would be.
31 January 2020
Bondholders reach lock-up agreement over Tchenguiz sheltered housing rents
Senior bondholders in a Cayman-registered issuer have agreed a US$482 million restructuring with Lloyds and UBS for a deal securitising ground rents from a Tchenguiz-owned portfolio of sheltered housing properties.
18 December 2019
English court approves bookkeeper discovery out of jurisdiction
Liquidators can use their discovery powers extraterritorially, the English High Court has ruled, departing from a 2015 precedent in the MF Global bankruptcy and following the Omni Trustees precedent instead.
26 September 2019
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