Regional news: United Kingdom

Bremen court says it lacks jurisdiction to hear German Property Group insolvency

A Bremen court has found it lacks jurisdiction to oversee the insolvency of a German property investment group that targeted foreign pensioners, after the group’s founder challenged its relocation from Hanover and accused its Bremen administrator of sneaking onto the case.

30 September 2020

Pizza Express to hold UK plan meetings and seek Chapter 15

British casual dining chain Pizza Express is set to hold three creditors’ meetings on its UK restructuring plan and apply for Chapter 15 recognition in the US, following an English court ruling.

30 September 2020

New Look heads to Irish and US courts for restructuring

UK retailer New Look is facing opposition from landlords in its attempts to enter examinership in Ireland, as it seeks recognition of its English scheme of arrangement in New York.

30 September 2020

Creditors back Codere’s English scheme

Spanish gaming company Codere has secured creditor approval of its English scheme of arrangement, after overcoming opposition to its voting plans at a convening hearing earlier this month.

30 September 2020

Wachtell helps travel tech company restructure after settling IP dispute

UK-based travel technology company Travelport Worldwide has completed a debt restructuring that sparked litigation with its lenders in New York, after settling a dispute over the transfer of its intellectual property.

29 September 2020

White & Case, Latham and Carey Olsen advise as lenders take over Britain’s FatFace

Lawyers in London and Jersey have helped British fashion and lifestyle brand FatFace in a consensual debt-for-equity swap that has seen bank lenders and debt funds take control.

29 September 2020

Community roundup: Winston & Strawn hires in New York, CMS and Goodwin expand in London

Winston & Strawn has hired a new restructuring partner in New York, while CMS has expanded its finance offering and Goodwin has strengthened its private equity group in London.

25 September 2020

New Look to hold creditor vote on latest English scheme

A week after creditors backed its latest CVA, an English court has given UK retailer New Look permission to convene a single-class creditors’ meeting on an inter-conditional scheme of arrangement and seek recognition in the US.

23 September 2020

African Minerals Limited: using a scheme to unlock value for all creditors

Partner Richard Hornshaw and counsel Tom Laidler from Akin Gump Strauss Hauer & Feld’s London litigation team discuss how a Cayman litigation trust and an English scheme were used to get around creditor differences on pursuing significant litigation, in the context of the administration of an iron ore miner in Sierra Leone.

22 September 2020

English court rejects Sunbird’s “materially misleading” scheme

An English court has declined to sanction a scheme of arrangement for a group that provides flexible workspaces in Africa, finding it had provided inadequate documents to creditors.

21 September 2020

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