Regional news: United Kingdom

Virgin Atlantic allowed to convene UK restructuring plan meetings

Virgin Atlantic is set to hold creditors’ meetings on its restructuring plan, the first to be implemented under the UK’s new Corporate Insolvency and Governance Act, following an English court ruling.

04 August 2020

Katten Muchin launches UK restructuring practice with CRS hire

Charles Russell Speechlys partner Prav Reddy has joined the London affiliate of US firm Katten Muchin Rosenman, in what is its first move into the restructuring sector outside the US.

04 August 2020

Addleshaw Goddard hires former Paul Hastings partner in London

Former Paul Hastings and Cadwalader Wickersham & Taft partner Karl Clowry has joined Addleshaw Goddard’s restructuring group in London.

04 August 2020

Skadden, Akin Gump and Milbank advising as Noble enters Chapter 11

London-headquartered offshore drilling contractor Noble Corporation has filed Chapter 11 proceedings in Texas, after entering a US$3.4 billion restructuring agreement with two ad hoc groups of its bondholders.

03 August 2020

Foreign pension investors’ claims to be heard in German group insolvency

An administrator from German law firm GÖRG will oversee the insolvencies of more than 100 entities in a group that invited pensioners from the UK, Ireland and Asia to finance the conversion of historic buildings.

03 August 2020

Pinsent Masons hires Michelmores restructuring head in London

Charles Maunder, the head of Michelmores’ banking restructuring and insolvency team, is moving to Pinsent Masons in London.

03 August 2020

Quantuma sold to UK advisory firm

UK advisory firm K3 Capital has acquired corporate recovery specialist Quantuma, which has offices in the UK, Cyprus and Mauritius.

03 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

UK retailer Matalan seeks US recognition of English scheme

Guernsey-owned British fashion and homeware retailer Matalan has filed for Chapter 15 recognition of its English scheme, two days after it was approved by the High Court in London.

30 July 2020

English court grants Dutch Hema single class scheme meeting

An English court has let Dutch retailer Hema hold a creditors’ vote on the English scheme that is key to its planned multi-jurisdictional restructuring in the UK, the US and the Netherlands.

29 July 2020

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