Regional news: Italy
Community round-up: partners move firms across Europe and the US
Advisory firm Alvarez & Marsal has hired a new leader for its Italian restructuring group, while law firms K&L Gates, MÖNIG and Eversheds Sutherland have added partners across Europe, and US firms CohnReznick and Fox Rothschild have bolstered their practices on the East Coast.
09 July 2021
BonelliErede helps rescue Italian Greensill casualty
Italy’s BonelliErede is advising Venice-based bank Ifis on its purchase of a local lender out of compulsory liquidation, after it collapsed under the weight of its exposures to Greensill’s German banking subsidiary.
28 May 2021
Virgin Active secures second-ever UK cross-class cramdown
Gym chain Virgin Active’s heavily contested restructuring plans have been sanctioned in a judgment affirming that English courts will afford weight to the decisions of higher-ranking creditors when exercising their discretion over cross-class cramdowns.
12 May 2021
Wind beneath my wings? Virgin Active probes court’s role in contested plans
On the fourth day of its contested UK plan hearings, counsel to Virgin Active, its secured lenders and opposing landlords clashed on how far the courts should assess the merits of restructuring plans: does satisfaction of the two conditions in Part 26A give the company “a fair wind”, or should the court be looking to see if something better is “waiting in the wings"?
04 May 2021
AlixPartners strengthens globally
AlixPartners has announced seven promotions across its restructuring group in the US and Europe, and hired McKinsey & Co partner Karsten Lafrenz in Germany.
14 January 2021
Nortel’s Irish and Italian arms to end administrations
Nortel Networks has moved another step closer to finalising its UK administrations after the joint administrators of its Irish and Italian arms secured termination and discharge orders from the High Court in London.
30 November 2020
Business rescue not available for foreign companies in South Africa
An Italian construction company has failed to open business rescue proceedings in South Africa, after an appellate court found the process was not open to foreign companies, while also refusing to recognise its Italian restructuring.
23 November 2020
Latham & Watkins announces January promotions
Latham & Watkins has announced promotions for two members of its restructuring and special situations group in London and Hamburg, as five other lawyers with relevant experience are also elevated across the firm.
30 October 2020
Insolvent solar investor fails in claim against Italy
An arbitration tribunal has rejected an insolvent solar investor’s claim against Italy, finding that reforms to the country’s renewable energy regime were not irrational or arbitrary.
10 September 2020
Kirkland advising as Travelodge launches CVA following “ground-breaking” injunction
The UK’s largest independent hotel brand Travelodge has launched a company voluntary arrangement to reduce its rent bills, with Deloitte partners Ian Wormleighton and Dan Butters appointed as nominees.
09 June 2020