Regional news: Sweden
Gernandt & Danielsson assists Swedish property manager as distress hits local real estate
Stockholm firm Gernandt & Danielsson has helped a local residential property manager complete a US$218 million equity restructuring to help it weather plummeting property prices in Sweden.
23 May 2023
Weil advising as Scandi flag carrier lands in New York bankruptcy court
Scandinavian flag carrier SAS has jetted to New York to seek Chapter 11 relief after strike action grounded half its fleet.
05 July 2022
Swedish government rejects further capital injection in SAS
A week after Scandinavian Airlines revealed plans to convert US$2.1 billion of its debt into equity and raise almost US$1 billion of cash, the Swedish government announced it will not inject new capital into the struggling company.
08 June 2022
Canadian court appoints receiver over Finnish gold mine operator
An insolvent Canadian company that owns a gold mine in Finland has been placed into receivership, while fraud litigation between its majority shareholder and only secured creditor play out in the US and Canada.
02 February 2022
Alvarez & Marsal bolsters ranks in the Nordics
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
“Good forum shopping”: English court sanctions Flint Group schemes
An English court has sanctioned schemes for seven international subsidiaries of Luxembourg-headquartered Flint Group, finding a change of governing law in their debt agreements gave the companies sufficient connection to England.
30 July 2020
New scheme notice requirements should not be bypassed, English court affirms
An English court has published its reasons for convening scheme of arrangement meetings for Luxembourg-incorporated Flint Group, after applying new creditor notice requirements for the first time.
14 July 2020
US removes sanctions on struggling Swedish oil refiner as PDVSA divests
Swedish oil refiner Nynas said it hopes to exit its administration process after the US announced it had removed sanctions imposed on the company last year under the Venezuela Sanctions Regulations.
14 May 2020
Cayman court reinforces liquidators’ clawback powers
A Cayman Islands appeals court has upheld the authority of liquidators to pursue clawback actions in the name of pari passu distribution, dismissing a challenge from an investor into a Cayman vehicle whose manager was found to have fraudulently covered up its insolvency.
28 November 2016
London: Laying the groundwork for a European approach to fraud in insolvency
INSOL Europe’s Young Members Group and Anti-Fraud Forum convened in London last week to assess the varying approaches to fraud in insolvency cases in different jurisdictions across Europe.
17 November 2016