Regional news: Norway
Norwegian law avoidance claims allowed in New York
Judge Martin Glenn in Manhattan has allowed Norwegian paper company Norske Skogindustrier to pursue foreign law avoidance claims in its Chapter 15 proceedings, putting him at odds with Judge Stuart Bernstein in the same court on a contentious issue of US bankruptcy law.
14 May 2021
Irish court explains repudiation of Norwegian Air’s leasing contracts
A month after approving Norwegian Air’s schemes, an Irish court has handed down its reasons for allowing the airline to repudiate some of its aircraft leasing contracts, finding the terminations were not prohibited by the Cape Town Convention.
23 April 2021
Norwegian Air restructuring approved in Oslo
An Oslo court has approved Norwegian Air’s restructuring plan after parallel schemes of arrangement were sanctioned in Ireland, paving the way for it to eliminate about US$3.6 billion of debt.
13 April 2021
Norwegian Air schemes approved in Ireland
An Irish court has sanctioned schemes of arrangement for Norwegian Air, paving the way for the airline to exit examinership as it awaits a creditor vote on its restructuring in Norway.
29 March 2021
Norwegian Air files plans in Dublin and Oslo, seeks US recognition
Oslo-listed Norwegian Air and one of its Irish subsidiaries are seeking Chapter 15 protection for their US assets while the group's creditors are set to vote on restructuring plans filed in Dublin and Oslo last week.
15 March 2021
Community roundup: Quantuma, Duff & Phelps, Roland Berger, FTI Consulting, Consignum and CTF Consultancy
Quantuma and Duff & Phelps have hired in London, while Germany’s Roland Berger and Consignum have expanded across the country, and FTI Consulting has promoted a new head of corporate finance and restructuring in Asia: meanwhile, a new Norway/UK boutique has opened in Oslo.
12 February 2021
English scheme sanctioned for Norwegian oil services group
The holding company for a Norwegian seismic imaging group has secured an English scheme of arrangement that allows it to restructure debt formerly governed by New York law.
02 February 2021
Ashurst advising as Norwegian oil services group secures scheme meeting
The holding company for a Norwegian seismic imaging group has secured a single meeting for some of its creditors to vote on an English scheme restructuring US$872 million of debt.
21 December 2020
Norwegian Air wins bankruptcy protection in Norway
Norwegian Air has entered a formal restructuring process in Norway to run parallel to its Irish examinership, and announced an agreement to convert over €7 million of debt into equity.
09 December 2020
Norwegian Air announces new restructuring plans
Two weeks after it sought bankruptcy protection in Ireland, Oslo-headquartered Norwegian Air has laid out plans to pursue debt-for-equity swaps with several groups of creditors.
04 December 2020
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