Topic: Pre-pack
Canadian investor agrees DIP funding deal with Singapore’s New Silkroutes
Singapore-listed healthcare and energy holding company New Silkroutes has entered a debtor-in-possession facility agreement with Canadian real estate investment group Ontario, a week after launching a pre-packaged scheme.
14 September 2023
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
UK chemicals group Venator files Ch11 pre-pack in Texas
A British chemicals manufacturer has filed for bankruptcy in Texas, a day after it agreed a deal with most of its creditors to wipe out nearly US$1 billion in debt.
15 May 2023
Madrid courts reveal new guidance on pre-packs
Five months after Spain introduced formal pre-pack procedures into its national legislation, the Madrid courts have issued guidelines on how to use them, which local lawyers say will provide greater transparency and clarity.
28 February 2023
Spain’s new pre-pack law tested as nine bidders vie for Abengoa’s businesses
Rival bidders seeking to buy Spanish renewables conglomerate Abengoa’s operating assets are testing new powers to scrutinise pre-pack sales under Spain’s recently enacted transposition of the EU preventive frameworks directive.
13 January 2023
EU proposes next step in harmonisation of insolvency laws
Lawyers have welcomed the European Commission’s latest proposal to harmonise insolvency laws across member states, which it says aims to encourage cross-border investment within the bloc.
08 December 2022
Zipmex secures moratoria extension in Singapore
Crypto group Zipmex has secured an extension of its Singaporean moratoria, but a local judge criticised its advisers for failing to keep the court informed of developments at its Indonesian subsidiary.
06 December 2022
Fried Frank partner joins Jones Day in New York amid latest promotions round
Jones Day has recruited a longtime Fried Frank Harris Shriver & Jacobson partner who advised fashion brand Jack Wills on its pre-packaged sale to British retail giant Sports Direct – and announced partnership promotions for four of its US restructuring lawyers.
10 November 2022
Eversheds advises Next in Made.com pre-pack administration sale
Eversheds Sutherland is advising British home and fashion retailer Next in its acquisition of online furniture outlet Made.com via a pre-packaged administration sale.
09 November 2022
Altera gets Ch11 plan approval after unsecured creditor concessions
UK-headquartered oil and gas services provider Altera Infrastructure has won a Texas court’s approval for its US$1 billion restructuring plan, after it was amended three times following objections from unsecured bondholders who were initially left out of the money.
07 November 2022