Global heat exchange group Arvos has won sanction of an English scheme of arrangement to restructure several loan facilities at a lightning-fast hearing, following unanimous support from creditors.
18 March 2024
A team from Norton Rose Fulbright offers a comparative analysis of the treatment of foreign and domestic tax debts across three different European restructuring processes, looking at whether they permit such debts to be compromised, and whether that may influence a debtor’s choice of restructuring jurisdiction. They also note that cross-border recognition of tax compromises has yet to be tested in the EU, leaving open the question of whether such compromises would be effective.
15 March 2024
A Russian a bankruptcy trustee trying to get control of an Italian villa that she claims belongs to former Vneshprombank owner Georgy Bedzhamov, will go to trial against his long-term partner – who claims the property belongs to her – in May, where questions will be raised over a litigation funding agreement the trustee has entered that could be in breach of sanctions.
15 March 2024
A Ukrainian-born Russian national residing in the UK has lost his appeal against an English bankruptcy order, after a court found that a Russian judgment never registered nor recognised in England still gave rise to a debt under the Insolvency Act.
12 March 2024
FRP advisory has expanded offshore with a new acquisition on the Isle of Man, days after an FRP partner and a director moved to Kroll in London.
12 March 2024
The former administrators of charity payments terminal provider Good Box, who were ordered last year to give their consent to the first-ever UK restructuring plan proposed by a creditor, have been denied increased remuneration under the 2016 Insolvency Rules.
11 March 2024
A former subsidiary of defunct shopping centre owner intu has won permission to convene a single meeting of creditors to vote on an English scheme through which it hopes to facilitate a US$2.2 billion restructuring.
08 March 2024
German real estate group Aggregate has secured sanction of its amended restructuring plan after senior creditors supported it at a reconvened meeting that followed the disenfranchisement of out-of-the-money creditors who opposed the initial plan.
07 March 2024
The Hong Kong branch of China Minsheng Banking Corporation has won approval to appoint a liquidator over British Virgin Islands-incorporated fund Tai Feng Investments, after a BVI court said liquidators can be appointed over a solvent company that is unable or refuses to pay its debts.
05 March 2024
Advised by Kirkland & Ellis, a British private equity-owned Norwegian tour operator has restructured over €1.01 billion in combined Norwegian bonds and English-law governed loan facilities and brought in €185 million in new money to help it spin off its global expeditions business.
05 March 2024
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