Regional news: United Kingdom

Gibson Dunn rehires Freshfields restructuring and special situations partner

A former Gibson Dunn associate who worked on the multi-billion-dollar restructuring of UAE-based healthcare group NMC has returned to the firm after nine years working with Latham, Kirkland and Freshfields in London.

19 January 2024

Former Lehman judge joins South Square

A former New York bankruptcy judge who presided over the Lehman Brothers bankruptcy for five years has joined South Square Chambers in London, following his recent appointment to the Singapore International Commercial Court.

18 January 2024

UK restructuring plan: cramming up a super-senior creditor class in a unitranche structure

Norton Rose Fulbright lawyers consider how the UK’s Part 26A restructuring plan has opened up opportunities for “cram up” in unitranche structures – a type of hybrid structure that brings together senior and subordinated debt under one loan.

18 January 2024

Germany’s Tele Columbus secures English scheme meeting

German telecoms group Tele Columbus has secured a single meeting for creditors to vote on an English scheme of arrangement that will extend its debt maturities and provide it with a new equity contribution, despite the judge expressing reservations as to whether it has a sufficient connection to the UK.

17 January 2024

Quinn Emanuel recruits Paul Hastings veteran

Paul Hastings restructuring partner David Ereira, who advised the UK administrators of Lehman Brothers in the group’s mammoth bankruptcy, has joined Quinn Emanuel Urquhart & Sullivan in London.

16 January 2024

Heads-up: Sarah Rayment at Kroll in London

Featured in Heads-Up

Kroll’s global co-head of restructuring Sarah Rayment discusses the art of valuation in court-led restructurings, whether China’s real estate problem has migrated to the UK, and whether COMI should remain the basis for where to file insolvency and restructuring proceedings.

15 January 2024

Leonard Curtis opens in Jersey

UK financial advisory group Leonard Curtis has cut the ribbon on its second Channel Islands office, following an amendment to the restructuring law in Jersey.

15 January 2024

Mishcon de Reya hires from Norton Rose Fulbright in London

A long-time Norton Rose Fulbright partner who acted for Lehman Brothers’ US trustee in UK litigation concerning the ownership of certain securities has moved to Mishcon de Reya after a “fantastic 18 years” at his former firm.

12 January 2024

Signa unwrapped: Germany’s Galeria guns for “liberation” from ailing group

Austrian businessman René Benko’s property empire is continuing to unravel with German department store Galeria Karstodt Kaufhof entering into insolvency proceedings for the third time in Essen, in quick succession to the Signa group’s kingpin property subsidiaries Signa Prime and Signa Development launching self-administrations late in December.

11 January 2024

Milbank partner joins Akin

A Milbank partner who acted for a steering committee of Adler bondholders that supported the German property group’s English restructuring plan has joined Akin in London after six years at her former firm.

11 January 2024

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