In this alert, we consider the recent judgment of the Frankfurt court declining to recognize the effects of the Aggregate group’s 2024 English restructuring plan in respect of certain of its German law-governed debts....more
Project Fürst purported to restructure its liabilities of over EUR 1 billion, for which the developer relocated to London in order to implement a “Restructuring Plan” under the English Part 26A regime. The Restructuring Plan...more
The deal reached between HM Government and the European Union on December 24, 2020, does not include any framework for the coordination and mutual recognition of cross-border insolvencies and restructurings. For the purposes...more
Although the Trade and Cooperation Agreement (TCA) arrived in time to prevent a wholesale “no deal Brexit,” issues of cross-border cooperation and recognition in relation to insolvency and restructuring proceedings were not...more