Regional news: Luxembourg

A long list of law and advisory firms have helped international hotel operator AccorInvest Group secure additional financing and complete a multi-jurisdictional restructuring of its €4.5 billion debt pile.

07 April 2021

Mr Justice Zacaroli has issued his reasons for sanctioning gategroup’s UK restructuring plan, in the face of an “artificial” forum shopping structure and questions over whether English law could vary rights between non-assenting creditors and foreign third parties.

31 March 2021

Swiss airlines services provider gategroup has secured sanction of its UK restructuring plan after adding an additional provision to help ensure it is effective in Switzerland.

26 March 2021

A pan-African telecoms group that shifted its COMI from Mauritius to England in January has filed restructuring plan proceedings in London to secure new money to tide it over while it completes a sales process.

19 February 2021

One avenue for recognition of some English restructurings in Europe may have been lost after the High Court ruled that the UK’s new restructuring plan is an insolvency proceeding for the purposes of the Lugano Convention’s bankruptcy exclusion.

17 February 2021

Swiss airline services provider gategroup has secured meetings for creditors to vote on its UK restructuring plan but the High Court has rejected its request to keep all the plan creditors in a single class.

11 February 2021

A Baker McKenzie partner is set to join Goodwin’s growing private equity practice in London, while the firm has also bolstered its restructuring group in Luxembourg.

10 February 2021

Counsel to Swiss airline services provider gategroup said its UK restructuring plan is capable of affecting third party rights under the Lehman necessity principle as the second day of its convening hearing played out in the High Court.

04 February 2021

In a case that will examine whether the Lugano Convention's bankruptcy exemption applies to the new English restructuring plan, lawyers acting for Swiss airline services provider gategroup have applied to convene a meeting for a single class of creditors, telling the High Court they had to forum shop because “we can’t do this anywhere else”.

03 February 2021

An English court will hear a claim for declaratory relief concerning the validity of the Galapagos group’s controversial 2019 restructuring after finding that an “anchor defendant” in the form of a non-participating high yield note trustee gave it jurisdiction over a Luxembourg fund and a German insolvency administrator.

20 January 2021