Scheme of arrangement

Interview: Volker Beissenhirtz, treasurer of new German insolvency association

German restructuring professionals and court personnel have formed a new association aimed at improving the country’s restructuring and insolvency laws and court processes. Its new treasurer Volker Beissenhirtz tells GRR how the group plans to achieve its goals.

26 May 2022

Amigo’s preferred scheme sanctioned in novel alternative scheme restructuring

Guarantor loan provider Amigo has secured sanction of its preferred of two alternative schemes of arrangement in England, almost a year to the day after a first scheme was rejected amid objections from the UK’s Financial Conduct Authority.

23 May 2022

Luckin Coffee JPLs: “Trust and transparency was key”

Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.

19 May 2022

Ireland opts in to updated EU regulation annexes

Ireland has belatedly opted into the updated version of the recast European Insolvency Regulation, and will now automatically recognise the new Dutch and German schemes along with a host of other new and expected European restructuring tools in the regulation’s revised annexes.

16 May 2022

Hong Kong court dismisses Dingway liquidators’ discovery application

The liquidators of a Hong Kong-headquartered investment company, who have been trying to investigate several allegedly wrongful transfers related to property it indirectly held in Miami, have had their application for discovery dismissed by a local court.

12 May 2022

Brown Rudnick’s UK restructuring head to join BCLP

Bryan Cave Leighton Paisner is set to recruit two partners from Brown Rudnick in London, including the head of its UK bankruptcy and corporate restructuring practice.

11 May 2022

English scheme sanctioned for Germany’s Lowen Play

Arcade gaming group Lowen Play has secured sanction of an English scheme to restructure €350 million worth of senior secured notes, despite German tax authorities not yet providing approval.

05 May 2022

Linklaters and A&M advise as Golden Wheel completes Cayman restructuring

Chinese property developer Golden Wheel Tiandi has completed a restructuring of three Singapore-listed US dollar bonds using a Cayman scheme of arrangement.

04 May 2022

Skadden advising as E-House proceeds with Cayman restructuring

A week after Chinese real estate service provider E-House (China) Enterprise defaulted on a US dollar bond worth almost US$300 million, a majority of its noteholders have signed up to support a restructuring using a Cayman scheme.

26 April 2022

Teneo hires from Accuracy in Hong Kong

Former EY and Accuracy director So Kim Lau has joined the recently launched Hong Kong office of New York-headquartered financial advisory firm Teneo.

25 April 2022

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