Topic: Distressed transactions
Cash machine manufacturer plans parallel Ch11 and WHOA
Cash-strapped cash machine manufacturer Diebold Nixdorf has signed a restructuring support agreement with key creditors, as it set its sights on finishing a pre-packaged Chapter 11 and Dutch scheme within 80 days, with help from Jones Day and Jackson Walker.
31 May 2023
Judge rebukes Russian trustee’s counsel for “outrageous” recusal letter
The English lawyers for the Russian bankruptcy trustee of former banker Georgy Bedzhamov have been heavily reprimanded in court, after submitting a letter asking the judge to recuse herself on grounds of apparent bias.
21 April 2023
Milbank hires fund specialist in Singapore
Former Clifford Chance partner Nicholas Dunstone has joined Milbank in Singapore after spending over a decade at an asset management firm he launched in Hong Kong after the global financial crisis.
14 April 2023
Financial Restructuring MENA, Abu Dhabi: the “magic realism” of the Middle East’s NPL market
Regional banks in the Middle East shared their predictions for the acceleration of a buoyant local non-performing loan market this week – but distressed investors appeared sceptical, citing a “humongous delta” between the banks’ expectations and investor realities.
17 March 2023
E.ON, British Gas and Scottish Power ask English court to unwind Bulb transfer
Three of the UK’s largest energy suppliers have asked the English High Court to review Bulb Energy's sale to rival Octopus, arguing the bidding process in the country’s first-ever special energy supply company administration was “fundamentally unfair”.
01 March 2023
Weil counsel joins Reed Smith in London
Reed Smith has recruited a new partner from Weil Gotshal & Manges in London, who brings with him 20 years of experience advising banks and hedge funds on international and domestic restructurings.
28 February 2023
Administrators’ costs face scrutiny in UK’s first special energy administration
An English judge has adjourned two costs applications by administrators appointed in the UK’s first-ever energy supply company administration so an independent insolvency practitioner can scrutinise their work.
24 February 2023
Russo-British bank’s administrators seek High Court nod for “remarkable” securities transfer
The special administrators of Russo-British investment bank Sova Capital have asked an English court to approve a “remarkable” transaction swapping an unsecured creditor’s claims for its portfolio of Russian securities, against opposition from another creditor.
23 February 2023
Bed Bath & Beyond secures protection in Canada after last-minute US deal
After buying time to restructure its US business with an offering of so-called “death spiral convertibles” to institutional investors last week, American homeware chain Bed Bath & Beyond has placed its Canadian arm into bankruptcy.
13 February 2023
Insolvency Law Academy dedicates mediation centre in honour of late minister
The think tank founded by former INSOL International president Sumant Batra has named two Indian judges as emeritus fellows, and dedicated a new mediation centre to another late luminary in the insolvency space.
08 February 2023