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Ukrainian coal miner DTEK has won permission to hold creditor votes on two English schemes, despite opposition from a Russian bank creditor on lack of jurisdiction grounds.
16 April 2021
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
In another first for the new Dutch scheme, a court has approved a farm operator’s restructuring even though an unsecured creditor was mistakenly left out of the vote and there were indications that the creditor class divisions were incorrect.
11 March 2021
A Dutch court has issued the first decision refusing to sanction a scheme of arrangement, citing gaps in information given to creditors and questions over the viability of the debtors’ business.
03 March 2021
A Netherlands-based events production company has secured the first order sanctioning Dutch schemes of arrangement, in a decision hailed as a “step-by-step” guide to approval.
22 February 2021
A US investor linked to Centerbridge Partners has agreed to withdraw its application to appoint a Dutch restructuring expert over South African conglomerate Steinhoff, while the group’s former auditor Deloitte has pledged €70 million to support a global settlement of litigation claims.
15 February 2021
South African conglomerate Steinhoff has secured sanction of its latest English scheme after the High Court dismissed objections made by a US fund linked to distressed investor Centerbridge Partners.
05 February 2021
The High Court in London has issued its reasons for applying the UK’s cross-class cram-down mechanism for the first time earlier this month, with local lawyers describing the decision as a “game-changer”.
28 January 2021
The terms of a global settlement of litigation claims against Steinhoff are “manifestly unfair”, according to a US investor that has urged the High Court in London not to sanction the South African conglomerate’s latest scheme.
27 January 2021
Brown Rudnick has reached a settlement in principle with the litigation trust of bankrupt Dutch petrochemicals group LyondellBasell, which accused the firm of malpractice in failing to claw back US$300 million from Ukrainian-born billionaire Leonard Blavatnik.
27 January 2021
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