Regional news: United Kingdom

English court sanctions Virgin restructuring plan

Virgin Atlantic’s landmark restructuring plan has received court sanction, after a short, unopposed hearing in which the judge pressed for “respectable commercial reasons” why some trade creditors had been excluded.

02 September 2020

Mayer Brown hires partner from K&L Gates in London

The former EMEA practice group coordinator for K&L Gates’ restructuring and insolvency group has joined Mayer Brown in London, continuing the firm’s recent hiring spree.

02 September 2020

Creditors approve ED&F Man’s UK scheme

International commodity trader ED&F Man has secured unanimous backing for its UK scheme of arrangement during two creditors’ meetings.

02 September 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 2020

London advisory firm Avonhurst hires MoFo partner

One-year-old political strategy and legal advisory firm Avonhurst has hired a cross-border restructuring partner from Morrison & Foerster in London to join its growing team.

01 September 2020

Greenberg Traurig expands London restructuring practice

Greenberg Traurig has hired the former co-head of Dorsey & Whitney’s London banking practice Helena Nathanson as a shareholder.

26 August 2020

Nortel’s Polish arm to end decade-long administration

The joint administrators of Nortel Networks Polska have secured termination and discharge orders from the High Court in London to bring an end to its 11-year administration in England.

26 August 2020

Sunbird seeks scheme sanctioning in England despite creditor objections

Creditors of a group that provides flexible workspaces in Africa are challenging its English scheme of arrangement, arguing they have been given “materially incomplete and inadequate” information.

26 August 2020

Trade creditors approve Virgin Atlantic’s restructuring plan

Creditors have approved Virgin Atlantic’s ground-breaking restructuring plan at four virtual meetings, with 99% of trade creditors lending their support.

25 August 2020

Paul Hastings expands again with two in London

Paul Hastings has hired a partner from Shearman & Sterling’s European finance team, and an infrastructure partner from Ashurst with credits on the Thomas Cook and British Steel restructurings.

25 August 2020

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