Topic: Corporate lending
Comet liquidator secures partial release of £89m unfair preference judgment award
The liquidator of insolvent electronics group Comet has secured an order from the English High Court releasing a portion of an £89 million judgment awarded to him, pending an appeal of what was thought to be the largest unfair preference claim ever brought before the court.
21 March 2023
Lefosse adds trio of partners in São Paulo
Brazilian firm Lefosse has bolstered its insolvency offering with the addition of Cescon Barrieu Flesch & Barreto’s former restructuring head Fábio Rosas and two other partners in São Paulo.
18 October 2022
Nordic Aviation files Chapter 11 after completing Irish scheme
After completing an Irish scheme of arrangement last year, aircraft leasing company Nordic Aviation Capital (NAC) has filed a pre-arranged Chapter 11 in the US that will see its largest creditors take it over.
21 December 2021
AirAsia X wins scheme approval in Malaysia
Malaysia’s budget flag carrier AirAsia X has secured court approval of its scheme of arrangement, which will see unsecured creditors take a haircut of more than 99%.
17 December 2021
Garuda plans dual Indonesia-UK restructuring after creditor triggers first airline PKPU
Flag carrier Garuda Indonesia will become the first airline to attempt to restructure via an Indonesian suspension of payments process, as it also plans to launch a simultaneous scheme of arrangement in the English courts.
14 December 2021
Cayman textile and petroleum company liquidated in Hong Kong
A Hong Kong court has wound up a Cayman Islands-incorporated oil and textiles company after no less than six adjournments, finding that its proposed Cayman scheme of arrangement was unfeasible.
13 December 2021
Interpath hires from AlixPartners
Interpath Advisory has hired a managing director with experience working on the liquidation of British travel agent Thomas Cook and the restructuring of Chinese solar-parts manufacturer LDK Solar Co.
25 November 2021
Community round-up: advisory firms make hires and promotions in the UK, Germany and New York
Interpath Advisory has hired the founder of restructuring advisory group Riverhill Partners and promoted two members in its London team, while Alvarez & Marsal has hired a new managing director in Germany and financial services firm Baird has launched a new restructuring practice within its investment banking business in New York.
19 November 2021
CWT completes cross-border pre-pack Ch11 in 18 hours
Travel management company CWT and 37 international affiliates have secured confirmation of a pre-packaged Chapter 11 plan within 18 hours of filing for bankruptcy, in what is believed to be the first speedy Chapter 11 with a cross-border element.
17 November 2021
Sir David Richards joins One Essex Court
Former English Court of Appeal judge Sir David Richards has joined One Essex Court in London with plans to take appointments as an arbitrator, as he says the growth in cross-border cases has led experts to see arbitration as a sensible way of resolving disputes in restructurings.
08 November 2021