Topic: Pre-pack

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

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

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

A Spanish hotel chain founded by a three-time Olympic equestrian has been acquired by US-headquartered investor Angelo Gordon and Canadian hotel manager Westmont Hospitality Group after entering a pre-pack reorganisation in Madrid.

04 August 2022

A long-time partner of magic circle firm Clifford Chance, who advised Dubai World Dry Docks on the restructuring of its US$2.2 billion international debt, has joined Proskauer Rose in London.

08 June 2022

Houston-headquartered petrochemical corporation TPC Group has filed Chapter 11 proceedings after entering an agreement with creditors to eliminate almost 75% of its secured debt and resolve claims arising from an explosion at one of its plants.

01 June 2022

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses the consequences of a recent judgment from the Court of Justice of the European Union, which is important for pre-pack sales and employees alike – and suggests it should be taken into account in the EU’s next round of harmonisation measures.

09 May 2022

Dutch lawyers have hailed the potential revival of pre-packs in the Netherlands, after the European Court of Justice ruled that exceptions to employee protections afforded to companies in insolvency proceedings under EU law, can extend to pre-pack sales in certain circumstances.

29 April 2022

Aircraft lessor Nordic Aviation Capital has secured sanction of its third amended Chapter 11 plan in the US and aims to exit bankruptcy before the end of May, completing a multi-faceted post-pandemic restructuring that began with an Irish scheme of arrangement in 2020.

21 April 2022

Administrators from Alvarez & Marsal have helped UK-headquartered pipe and tube manufacturer Tricorn Group complete a pre-packaged sale of its US subsidiary – and are now trying to realise its Chinese joint venture.

12 April 2022