Regional news: Spain

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

Virgin Active secures second-ever UK cross-class cramdown

Gym chain Virgin Active’s heavily contested restructuring plans have been sanctioned in a judgment affirming that English courts will afford weight to the decisions of higher-ranking creditors when exercising their discretion over cross-class cramdowns.

12 May 2021

Balearic courts follow Barcelona’s lead on pre-packs

Judges in Spain’s Balearic Islands have adopted a protocol for conducting pre-packaged asset sales, which they say is framed within the “spirit and purpose” of the EU directive on preventive restructuring.

12 May 2021

Promotions round-up: new restructuring partners around the world

Updated: Eleven international law and advisory firms have announced restructuring promotions in the past month or so – in the UK, Hong Kong, Spain, Ireland, Turkey, the US and the Cayman Islands.

11 May 2021

Former Spanish justice minister joins Carles Cuesta

Madrid boutique Carles Cuesta has hired Spain’s former justice minister Rafael Catalá as its first non-founding partner.

05 May 2021

English scheme sanctioned for Spanish construction group

Spanish construction and engineering group Obrascón Huarte Laín has secured sanction of its English scheme of arrangement after the High Court found it would likely be recognised in foreign jurisdictions.

15 April 2021

Latham hires from Linklaters again

Following its hire of Bruce Bell in London, Latham & Watkins is adding a second Linklaters partner in as many months, this time in Madrid.

13 April 2021

No assets? No problem! Israeli trustee accesses UK concealment structure

The Israeli trustee of a property investor once rumoured to be Israel’s largest private bankrupt has persuaded an English court to transfer him the rights to a UK company believed to be at the top of a structure intended to hide German assets – though no assets have been identified as yet, even by private investigators.

08 April 2021

Hogan Lovells leads on €4.5 billion restructuring of French hotel operator

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

Community roundup: Shearman & Sterling, Kroll, FTI Consulting and EY

Shearman & Sterling has continued its London expansion while FTI Consulting has strengthened its Madrid and Abu Dhabi offices, Kroll has promoted four new managing directors in the UK, and EY has hired in Bermuda.

01 April 2021

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