Regional news: United Kingdom

Begbies Traynor appointed as scandal-hit Football Index enters UK administration

Jersey-based BetIndex, which operates online gambling company Football Index, has been placed into administration by the English High Court – one week after a Jersey court issued a letter of request seeking its assistance.

26 March 2021

Landlords question Virgin Active plan meetings

Lawyers for Virgin Active have said the gym chain will probably have to rely on cross-class cramdown provisions to implement three proposed UK restructuring plans that target its rent payments, after landlords and other creditors raised concerns at a High Court hearing.

25 March 2021

US paparazzi agency files for bankruptcy following Meghan Markle lawsuit

Blaming an “unbearably expensive” privacy claim lodged against it in England by Meghan Markle, US paparazzi outlet Splash News & Picture Agency has filed Chapter 11 proceedings in Nevada – with plans to hire Pinsent Masons to seek recognition in the UK.

25 March 2021

Vehicle linked to collapsed German Property Group wound up in Ireland

An Irish vehicle created to invest in historic German real estate has been wound up by the High Court in Dublin, eight months after a property group it put money into collapsed in Germany amid “profoundly worrying allegations”.

23 March 2021

New Look trial set to run to sixth day

New Look and its landlords have tussled over arguments on jurisdiction, voting, disclosure and unfair prejudice in a trial challenging the high street retailer’s company voluntary arrangement, which has lasted five days so far and is set to continue tomorrow.

23 March 2021

Telecoms group's restructuring plan sanction adjourned

UPDATED: A pan-African telecoms group’s UK restructuring plan sanction hearing has been adjourned, after a court found that the sole dissenting creditor had the discretion on whether the plan would come into effect.

19 March 2021

Premier Oil restructuring plans sanctioned in Scotland

UK restructuring plans have been sanctioned in Scotland for the first time, clearing the way for London-headquartered oil and gas producer Premier Oil to complete a merger with North Sea exploration and production company Chrysaor.

19 March 2021

Spanish construction group wins English scheme meeting citing Gibbs

The Spain-incorporated holding company for an international construction and engineering group has secured a scheme meeting in London after failing to make €15.1 million of coupon payments on two sets of notes earlier this week.

18 March 2021

US coal miner sues Greensill for fraud

A US coal miner owned by the governor of West Virgina has sued collapsed finance group Greensill for alleged fraud, a week after an English court appointed Grant Thornton as its administrators.

18 March 2021

Extension of commercial forfeiture moratorium – unlikely to turn the tide?

While the government has extended its protections for commercial tenants once more, partner Roger Schofield, counsel Katharina Crinson and associate Nicholas Cooper at Freshfields Bruckhaus Deringer in London say it’s a matter of “when” not “if” the UK will see more CVAs – and potentially restructuring plans – targeting rental obligations.

18 March 2021

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