Topic: Administration

Greensill’s German and UK administrators go head to head over €40 million fund

Administrators can make Part 36 settlement offers under the UK’s Civil Procedure Rules in the context of a directions application, an English judge has ruled, in a case that reveals a dispute between Greensill’s UK and German officeholders over a €40 million fund.

20 September 2023

Scottish energy company calls in administrators after permitting issues in Nova Scotia

Edinburgh-based Sustainable Marine Energy has entered administration in England, blaming problems at its Canadian subsidiary caused by its failure to obtain permits from the Canadian government.

18 August 2023

Dubai Islamic Bank denied ADGM claim to certain NMC insurance receivables

NMC Healthcare subsidiaries that were not parties to a pair of heavily-disputed Murabaha agreements, did not assign their rights or interests in insurance receivables to Dubai Islamic Bank, a court in the Abu Dhabi Global Market has held.

04 August 2023

Canadian court blesses US asset manager's vow to buy David's Bridal

A Canadian court has recognised the sale of wedding gown retailer David’s Bridal to asset manager Cion Investment, which was approved by a New Jersey court this week despite opposition from landlords; meanwhile the joint administrators of the group’s UK arm are pursuing buyers as they seek to wind the business down.

20 July 2023

Quantuma re-appointed after pensions group parent’s administration challenged

In a case an English judge has described as generating “widespread interest”, a trio of managing directors at Quantuma have been re-appointed administrators of a pensions provider’s parent in the face of a competing winding-up application, and despite “strong grounds” for arguing the floating change under which they were appointed was invalid.

13 July 2023

Kirkland advising as Belgian bakery chain enters UK administration again

The UK arm of Belgian bakery chain Le Pain Quotidien has appointed administrators from Kroll and announced plans to shut nearly all its English locations, three years after its UK operations were sold in another pre-pack administration.

06 July 2023

Greensill’s English administrators secure Australian recognition

The English administrators of collapsed trade financing firm Greensill’s main trading entity have secured recognition in Australia to stop insurance crossclaims from being brought against it.

04 July 2023

Cineworld lines up AlixPartners for UK administration

British cinema chain Cineworld is planning to file for administration in England as part of an updated Chapter 11 plan that will also see it hand over control of the group to its lenders.

26 June 2023

CMS advising as Hunter Boot completes pre-pack sale

Administrators from AlixPartners have completed the pre-packaged sale of British wellington boot manufacturer Hunter Boot but warned that unsecured creditors and the UK tax office are unlikely to make any recoveries.

21 June 2023

Portage Point picks up new turnaround co-head and managing director in New York

Chicago-headquartered boutique advisory firm Portage Point has added two new managing partners to its ranks in New York, and named one of them co-chair of its turnaround practice.

18 May 2023

Unlock unlimited access to all Global Restructuring Review content