Regional news: Spain

Latham, A&O, HSF and Willkie Farr advise on Mediapro refinancing

Advisers from the UK, Spain and Hong Kong have helped Barcelona-headquartered media company Mediapro agree a refinancing deal with a shareholder to strike €500 million from its €900 million debt pile.

21 June 2022

Spanish asset manager wins English scheme sanction

UPDATED: A Madrid-based asset manager linked to US private equity group Cerberus Capital Management has secured sanction of its English scheme of arrangement, with a pre-insolvency process set to follow in Spain to complete its restructuring.

09 June 2022

Spanish asset manager permitted to hold single creditor meeting for English scheme

Madrid-based asset manager Haya Real Estate has received court permission to hold a single class meeting on an English scheme of arrangement, just a month after its noteholders agreed to change an indenture’s New York governing law to English law.

09 May 2022

Latham & Watkins and Linklaters close Spanish ferry operator’s restructuring

Teams from Latham & Watkins, Linklaters and Spanish firm Garrigues have completed the year-long restructuring of Mediterranean ferry group Naviera Armas, implemented by a Spanish scheme in the Canary Islands that was turned around in three weeks.

20 January 2022

New Weil study on corporate distress finds liquidity pressures rising

UK corporates experienced the highest levels of relative distress in Europe during the pandemic, a new study from Weil Gotshal & Manges has found, with liquidity pressures now rising as governments roll back financial stimulus measures.

16 December 2021

The corporate reality in Spain post-pandemic

Spain gained experience from its previous crisis in 2008 and now has the tools and the players to face the challenges ahead, a panel of experts recently agreed – predicting that although the need for restructuring remains high, there will not be an avalanche of insolvency proceedings because of covid-19. Professor Rodrigo Olivares-Caminal reports.

29 November 2021

Baker McKenzie recruits insolvency head in Madrid

Baker McKenzie has hired the former head of DA Lawyers’ restructuring practice to lead its own insolvency offering in Madrid.

13 October 2021

Stephenson Harwood hires former A&O partner in London

A year after retiring from Allen & Overy, cross-border restructuring specialist Tim Crocker has joined Stephenson Harwood’s London office in what the firm has described as “a real coup”.

14 September 2021

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

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