Regional news: Turkey

English scheme convened for solvent Dutch telecoms company facing sanctions dilemma

A solvent Netherlands-based telecommunications company has obtained permission to hold scheme meetings in England, despite objections that its creditors should be split into four classes, as it buys time to pursue the sale of a Russian subsidiary and regain entry to international capital markets.

22 December 2022

Cineworld to seek Ch11 recognition in UK and Turkey, stay imposed in Canada

Canadian cinema chain Cineplex has failed to modify a Chapter 11 stay so an Ontario court can hear an appeal over its botched merger with bankrupt British film conglomerate Cineworld, as a Texas bankruptcy judge expressed disappointment creditors outside the US “feel they are not bound by the worldwide injunction imposed by Congress”.

29 September 2022

Cruise port operator’s scheme convening hearing adjourned again

For the second time in a week, an English court has told the world’s largest cruise port operator to provide more information on advisers’ fees it plans to pay for noteholders under its scheme of arrangement.

11 February 2021

Cruise port operator ordered to give more details on English scheme fees

The world’s largest cruise port operator is seeking an English court’s permission to hold a creditors’ meeting on a scheme of arrangement but has been told it must provide more information on the payment of advisers' fees.

04 February 2021

Turkish army pension fund set to buy British Steel, with Hogan Lovells advising

The UK’s official receiver has named the investment arm of Turkey’s armed forces pension fund as the preferred buyer for British Steel.

16 August 2019

Restructuring in Turkey: A new paradigm?

White & Case partners Ian Wallace in London and Güniz Gökçe in Istanbul, and local partner Ateş Turnaoğlu in Istanbul, discuss the outlook for restructuring in Turkey.

20 June 2019

Corporate Restructuring Summit, Dubai: Debt-to-equity swaps in the Gulf

In an era of excessive corporate debt, how important are debt-to-equity swaps as a resolution mechanism in the Gulf? Panellists in Dubai identified some of the challenges and opportunities offered by swaps - a relatively rare restructuring tool in the region.

18 September 2018

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