Regional news: United Kingdom

Collapsed property firm files negligence suit against South Square QC

South Square’s Mark Phillips QC is facing negligence claims from collapsed buy-to-let property company Instant Access Properties and its liquidators, who say his advice caused them to bring a fraudulent trading claim that was likely to fail.

29 April 2021

Lion Air leasing dispute falls foul of English service rule

An aircraft leasing group that is trying to sue Indonesian and Thai subsidiaries of Asia’s Lion Air in England should have sought permission for service out of the jurisdiction before applying for alternative service, a court has found, in a dispute playing out against parallel conciliation proceedings in France.

28 April 2021

IWIRC bolsters European offering

The International Women’s Insolvency & Restructuring Confederation has announced plans to expand its presence in Europe after launching a new chapter in Ireland on the same day it kick-started its Europe network.

28 April 2021

Enyo hires from Eversheds following Greensill’s UK recognition

Just weeks after helping the German administrator of Greensill Bank secure recognition in the UK, Eversheds Sutherland partner Jamie Leader has left the firm for Enyo Law.

26 April 2021

Millions of creditors can vote on subprime lender’s English scheme

A UK personal credit provider has secured permission to poll as many as 4.2 million creditors on a scheme of arrangement, but it faces opposition from the Financial Conduct Authority.

22 April 2021

Greensill’s Australian parent enters liquidation

Creditors of Greensill’s Australian parent company have voted to put it in liquidation, with some of the biggest name creditors like Credit Suisse, Softbank Vision Fund and the Association of German Banks being appointed to a committee of inspection.

22 April 2021

Chapter 15 round-up: DTEK, Greensill and Samarco seek recognition in New York

Ukrainian coal miner DTEK has sought US recognition of its English scheme compromising New York bonds, while Greensill Bank’s German insolvency administrator and Brazilian mining company Samarco Mineração have also made Chapter 15 applications for their respective proceedings in Bremen and Belo Horizonte.

21 April 2021

Greensill and Archegos losses lead to Credit Suisse class action

Credit Suisse is facing a proposed class action in New York over allegations it hid defects in its risk policies so it could extend excessive leverage to scandal-hit trade finance provider Greensill and family office Archegos Capital – exposing it to billions of dollars of losses.

20 April 2021

DTEK to poll creditors on English schemes amid Russian objection

Ukrainian coal miner DTEK has won permission to hold creditor votes on two English schemes, despite opposition from a Russian bank creditor on lack of jurisdiction grounds.

16 April 2021

Weil loses third restructuring partner in London

Akin Gump has hired Weil Gotshal & Manges partner Clare Cottle in London – marking the third exit from Weil’s restructuring team since July.

16 April 2021

Get unlimited access to all Global Restructuring Review content