Regional news: United Kingdom

DLA Piper and GLAS push Gupta holding companies into administration

A team from DLA Piper acting for GLAS Trust Corporation has placed two Sanjeev Gupta-owned companies that hold aluminium assets in Europe into administration in the UK.

30 July 2021

Teneo hires new valuation head in London

Two months after acquiring Deloitte’s UK restructuring arm, New York-headquartered advisory firm Teneo has hired Alvarez & Marsal managing director Martin Drummond to lead its valuation advisory practice in London.

30 July 2021

Heads Up: Grant Thornton UK’s Africa group leader Amaechi Nsofor

Partner and head of Grant Thornton’s Africa insolvency & asset recovery offering Amaechi Nsofor speaks to GRR about the challenges of enforcing securities and judgments in Africa, why he expects creditors with assets in the region to turn to funding solutions, and how Grant Thornton’s asset recovery fund represents a "first mover" advantage.

29 July 2021

Victoria’s Secret UK’s liquidation declared valid

The UK arm of American lingerie retailer Victoria’s Secret validly entered a creditors’ voluntary liquidation last month despite an error in its filing with the registrar of companies, an English court has found.

29 July 2021

Mallya declared bankrupt in England

A London court has issued a bankruptcy order against one-time billionaire Vijay Mallya, four years after a bank consortium secured a £1 billion Indian judgment against him.

27 July 2021

Seadrill files Chapter 11 plan in Texas

Offshore rig operator Seadrill Limited has entered into a restructuring agreement with over half of its senior secured lenders, in a bid to cut its debts by over US$4.9 billion and raise new financing.

27 July 2021

Indian conglomerate’s English scheme sanctioned

A Dutch subsidiary of India’s Jain Irrigation Systems has won court approval for an English scheme it chose over a WHOA process, after providing evidence that Brexit would not prevent its recognition in the Netherlands.

26 July 2021

Baccarat investors’ bankruptcy trustees seek recognition in the UK

The Hong Kong bankruptcy trustees of a Chinese mother and daughter who made a doomed investment in the luxury French crystal brand Baccarat, have sought recognition in the UK to claw back local assets including a property in London.

23 July 2021

Caffè Nero CVA challenge trial starts in London

A landlord of UK coffee chain Caffè Nero, and a billionaire looking to buy it, have given evidence to the High Court in London on the first day of a challenge to its company voluntary arrangement.

21 July 2021

Ashurst hires in Singapore

Ashurst has bolstered its Asian restructuring practice with the hire of partner Robert Child from Clifford Chance in Singapore.

20 July 2021

Get unlimited access to all Global Restructuring Review content