Regional news: Luxembourg

In a dispute over a €200 million debt that has already sparked liquidation proceedings in Spain, the English High Court has adjourned a bankruptcy filing against a property mogul, finding that it would only benefit two Luxembourg-based funds at the expense of other creditors.

13 January 2016

Several European countries have passed changes to their insolvency laws in recent months, with France, Italy and the UK introducing new measures that give courts greater powers and expand the role of creditors, while the German legislature considers a bill to reform the regime’s clawback provisions – but harmonisation of laws across the EU still seems a distant prospect.

16 December 2015

Two dozen international subsidiaries of a Cayman Islands-based driller have filed for Chapter 11 protection, blaming the oil price collapse and links to scandalised Brazilian state oil company Petrobras for their woes.

11 December 2015