Topic: Out-of-court restructuring

Firms including O’Melveny & Myers, Weil Gotshal & Manges, Simpson Thacher & Bartlett and Jones Day have revealed their latest partner promotions on both sides of the Atlantic, while two Kirkland & Ellis partners have been made fellows of the American College of Bankruptcy.

19 December 2022

London-listed Bitcoin mining firm Argo Blockchain, which has warned it could run out of cash within the next month, has appointed advisers in the UK, US and Canada, as it seeks to sell assets to strengthen its balance sheet.

16 December 2022

Cayman Islands-incorporated real estate developer Sunac China Holdings has outlined preliminary plans to convert US$3 billion to US$4 billion of its offshore debt into shares or equity-linked instruments, in a restructuring that will be implemented by Hong Kong or Cayman schemes.

12 December 2022

Disgraced international care home group Orpea has revealed a turnaround plan that it hopes to pursue in French conciliation proceedings, which could see it withdraw unprofitable locations globally and equitise around US$3.8 billion in unsecured debt.

21 November 2022

Scandal-hit French care home operator Orpea has opened negotiations with creditors to restructure its multi-billion dollar debt pile after allegations of accounting fraud and mistreatment of residents surfaced earlier this year.

31 October 2022

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

Singapore’s freshly appointed official receiver, Francis Ng SC, reflected on the five years since the city-state declared its ambition to be a regional restructuring hub and looked to its future as a potential centre for restructuring troubled cryptocurrency platforms in his keynote at GRR Live.

25 August 2022

Linklaters has helped junior creditors take full equity control of US stretchy fibre maker Lycra from defaulting Chinese fashion conglomerate Shandong Ruyi, in a transaction across Asia, the Netherlands, London and the US, which the firm described as “one of the most high profile and complex enforcement and restructurings implemented in the market in recent years”.

12 July 2022

Sri Lanka is facing a US$250 million claim from a bondholder in New York who accuses the country of discriminating against US investors in its debt restructuring, after it defaulted for the first time in its history last month.

24 June 2022

Advisers from the UK, Spain and Hong Kong have helped Barcelona-headquartered media company Mediapro agree a refinancing deal with a shareholder to strike €500 million from its €900 million debt pile.

21 June 2022