Work Area: Loans and secured financing

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

Morses Club’s scheme gets the greenlight

The UK’s largest door-to-door pay day lender has secured sanction of its English scheme to deal with redress claims from 636,000 potential claimants.

30 May 2023

US Supreme court to decide whether bankruptcy code abrogates tribal sovereign immunity

In a case that could have significant repercussions for the rights of Native American tribes, the US Supreme Court is set to decide whether the Bankruptcy Code “unequivocally expresses” the intent of Congress to abrogate tribal sovereign immunity.

26 May 2023

Vietnamese power project developer enters JM as court applies AnAn principles

A Thai-owned power producer has persuaded a Singapore court to place the developer of a large project in Vietnam into judicial management, denying a request for a stay on the grounds that a disputed debt should be referred to arbitration.

24 May 2023

Gernandt & Danielsson assists Swedish property manager as distress hits local real estate

Stockholm firm Gernandt & Danielsson has helped a local residential property manager complete a US$218 million equity restructuring to help it weather plummeting property prices in Sweden.

23 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

Creditors to vote on Fitness First’s workout plan

UK-based gym group Fitness First has secured court approval to convene meetings for nine classes of creditors to vote on an English restructuring plan to slash its rental liabilities and extend the deadline on a half-million-pound payment owed to the UK tax office.

10 May 2023

Another payday lender secures scheme meeting for redress claim creditors

A second UK payday lender in the space of a month has persuaded the English High Court to convene a single class meeting of creditors for a scheme of arrangement through which it hopes facilitate a wider £95 million restructuring.

28 April 2023

Singapore court extends Babel’s worldwide moratorium and anonymises creditor names

Cash-strapped cryptocurrency lender and asset management group Babel Finance has secured an extension to a Singaporean moratorium it obtained last month, as well as permission to keep the names of its creditors confidential.

27 April 2023

German manufacturer secures English restructuring plan meetings

A mid-sized German manufacturer has cleared the first hurdle in its bid to restructure its English law-governed debt after the High Court in London allowed it to convene creditor meetings.

26 April 2023

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