Regional news: Netherlands
DTEK creditors asked to delay maturity of debt issued under landmark English scheme
A UK court has ordered creditors to Ukrainian miner DTEK to vote on the group’s second scheme of arrangement in less than two years, as it struggles to recover from physical and financial damage caused by ongoing war in its homeland.
06 December 2016
Brave New World for Czech miner as UK scheme sparks cross-border legal battle
In 2014, Eastern Europe’s largest coal miner completed a complex cross-border restructuring by shifting its centre of main interest to London to utilise an English scheme of arrangement; two years later a Czech court has ruled that the deal was unfair, allowing its chief subsidiary to sue the company for close to US$1 billion.
16 November 2016
Morrison & Foerster and Felsberg advise on alternative plan for Oi
Morrison & Foerster and Brazilian firm Felsberg Advogados are working on an alternative restructuring plan for Brazilian Telecoms company Oi, along with São Paulo–based consultancy Integra Associados, and New York investment banking boutique ACGM.
19 August 2016
Davis Polk advises as Dutch e-commerce company sells Brazilian subsidiary
Netherlands-headquartered e-commerce company Cnova has entered into a binding reorganisation agreement to sell its major Brazilian subsidiary to an affiliated local retail group, with Davis Polk & Wardwell advising the buyer.
10 August 2016
Dutch court recognises Indian proceedings for the first time
A Netherlands court has for the first time recognised insolvency proceedings pending in India, bringing a Dutch insolvency practitioner a step closer to pursuing a claim against the Indian debtor.
09 August 2016
Isolux gains provisional relief in New York
A New York court has granted interim provisional stays to prevent disruption to the bankruptcy proceedings of global engineering group Isolux Corsan in Amsterdam and Madrid.
04 August 2016
New York district court reopens LyondellBasell fraudulent transfer case
A New York district court has overturned a bankruptcy court’s ruling saying it erred when it dismissed a US$6 billion fraudulent transfer claim over the leveraged buyout of Dutch petrochemicals company Lyondell, which entered bankruptcy shortly after it was purchased.
03 August 2016
Spanish group cites Abengoa fallout as it files in Madrid, Amsterdam and New York
Global engineering and construction group Isolux Corsán has reached an agreement with creditors to restructure €2 billion in debt, and applied for protection from Spanish and Dutch courts, as well as Chapter 15 recognition in New York.
02 August 2016
PwC beats Deloitte and Alvarez to role of Oi administrator
A Brazilian court has chosen PricewaterhouseCoopers as judicial administrator, along with Brazilian firm Wald e Associados Advogados as its counsel, to carry out the country’s largest ever court-administered bankruptcy for telecoms company Oi.
25 July 2016
Simmons & Simmons boosts Amsterdam team with Clifford Chance hire
The financial markets group at Simmons & Simmons has recruited banking and restructuring partner Erwin Bos from Clifford Chance.
19 July 2016