Regional news: Norway

Alvarez & Marsal has hired a new head of financial restructuring and an operational restructuring lead for the Nordics, three months after launching its Norwegian practice.

17 August 2020

Six months after bondholders took control of the company through a “ground-breaking” coercive share pledge enforcement, UK telecoms group Lebara has completed its capital restructuring.

16 January 2020

West African gold miner Avocet has appointed joint administrators from Duff & Phelps in London, one week after its shareholders voted against placing the company into a members’ voluntary liquidation.

22 August 2019

In a “ground-breaking” ruling in the Netherlands, a group of bondholders has taken control of English telecoms group Lebara through a coercive share pledge enforcement against its Dutch holding company, Vieo.

14 August 2019

Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.

04 July 2019

Akin Gump Strauss Hauer & Feld and Houlihan Lokey are advising Connecticut-based fund SVP Global on the distressed acquisition of a Norwegian oil driller.

27 June 2019

A contested moratorium application has allowed Singapore’s High Court to rule on the requirements for such requests under Singapore’s new regime, in what turned out to be a failed restructuring of entities belonging to Norwegian gas carrier IM Skaugen.

28 November 2018

Bermuda’s chief justice has recognised locally-registered offshore drilling company Seadrill’s Chapter 11 reorganisation plan, rejecting a “last chance saloon” objection by minority shareholders in its subsidiary.

05 April 2018

A court in Texas has recognised a Bermudan scheme of arrangement for Norwegian oil driller Archer, protecting a recently-completed refinancing.

14 July 2017

A court in Bermuda has sanctioned a scheme of arrangement for global oil explorer Archer, the first Bermudan scheme used to amend the terms of Norwegian law-governed debt.

21 June 2017