Scheme of arrangement

Sunbird faces another creditor battle with new scheme

Flexible workplace provider Sunbird has devised a new scheme of arrangement after an English court rejected its original one as “misleading” last month – but its already facing opposition to its plans to place creditors in a single class.

19 October 2020

US courts grant emergency recognition of Canadian and English proceedings

A global group of satellite technology companies has secured preliminary US recognition of its Canadian restructuring in Minnesota despite creditor objections – while Swiss vending machine company Selecta has secured the same relief for its English scheme of arrangement in Texas.

12 October 2020

White & Case announces new partner promotions

Five lawyers with restructuring experience have been promoted to partners in White & Case's London, New York, Frankfurt and Paris offices, effective from January 2021.

12 October 2020

Canadian court approves cannabis company’s plan with narrowed releases

A British Columbia court has approved a revised restructuring plan for New York-based marijuana company iAnthus, telling opposing shareholders that not doing so would reward parties bringing “tactical” litigations at the expense of those with less “aggressive” lawyers.

08 October 2020

Dutch senate approves amended scheme

Local lawyers in the Netherlands tell GRR they expect the new Dutch scheme to be used frequently in the new year, after the country’s upper house of parliament rubber-stamped legislation that will bring it into being.

07 October 2020

MNC launches Singapore scheme as other Indonesian debtors follow lead

Jakarta-based conglomerate MNC Investema has launched a pre-packaged scheme in Singapore, months after it became the first Indonesian company to secure a moratorium in the city-state – and other Indonesian companies have already followed suit.

07 October 2020

Codere’s English scheme sanctioned after creditor drops opposition

An English court has sanctioned a scheme of arrangement for Spanish gaming company Codere, after a Cayman creditor withdrew its opposition and voted to approve it.

06 October 2020

Selecta to poll creditors and file Chapter 15 for English scheme

Switzerland-headquartered vending machine operator Selecta will hold a creditor vote on its English scheme of arrangement and seek recognition of it in the US, after winning permission to do so from a London court today.

02 October 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

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