Topic: Pre-pack

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

GRR Live, Singapore: the hub, five years on

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

Kirkland advising as former Kodak x-ray unit files Ch11

X-ray imaging products supplier Carestream Health, which was sold to Canadian investor Onex by Eastman Kodak, has filed a pre-packaged bankruptcy plan in Delaware to halve its US$1 billion debt pile and hand its equity over to lenders.

24 August 2022

Global construction group completes “landmark” pre-pack in Spain

In one of the fastest pre-pack sales since the concept was introduced in Spain two years ago, global construction group Urbas has secured court approval to acquire the production unit of Spanish architecture group Ingeser.

23 August 2022

Skadden advising as Endo agrees Ch11 pre-pack sale amid opioid suits

Ireland-registered pharmaceutical group Endo has sought bankruptcy protection in New York after agreeing a US$6 billion sale with noteholders – with plans to seek recognition in Canada, the UK and Australia.

17 August 2022

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