News & Analysis as of

Lenders Debt Restructuring United Kingdom

Hogan Lovells

Out of the money, but not down and out: UK Court of Appeal overturns Petrofac restructuring plans

Hogan Lovells on

On 1 July 2025, the Court of Appeal handed down its judgment overturning the twin restructuring plans proposed by Petrofac Limited and Petrofac International (UAE) LLC under Part 26A of the Companies Act 2006 (the plans)....more

A&O Shearman

Not just another drop in the ocean: Thames Water and developments in restructuring plans since Adler

A&O Shearman on

In this alert, we take a look at some of the principal points arising from the Court of Appeal’s judgment in respect of the Thames Water restructuring plan, as well as the broader state of play for restructuring plans in the...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan

Jones Day on

The Situation: The Adler Group sought to restructure more than €6 billion of debt by means of a UK restructuring plan ("RP"), to give itself a runway for a planned wind-down and asset sales, leading to an enhanced return for...more

A&O Shearman

Court of Appeal Overturns Restructuring Plan Sanction and Looks at Cram Down

A&O Shearman on

On 23 January 2024, Snowden LJ handed down the Court of Appeal's judgment in the Adler Restructuring Plan case - AGPS Bondco plc - overturning the sanctioning of the Plan by the High Court in April 2023....more

Latham & Watkins LLP

English Court of Appeal Overturns Adler Sanction: What Next for Restructuring Plans?

Latham & Watkins LLP on

The decision represents the first appellate-level ruling on the Part 26A regime. On 23 January 2024, the Court of Appeal set aside the sanction of the Adler restructuring plan (RP) in the first appellate-level decision on...more

Katten Muchin Rosenman LLP

Intercreditor Distressed Disposal Provisions: Pragmatic Decision Provides Certainty for Stakeholders

Investors in LMA-based intercreditor agreements (ICA) should be reassured by the commercial approach recently taken by the High Court in construing the "Distressed Disposal" provisions (DD Provisions)....more

A&O Shearman

Recent restructuring plan cases: important guidance for advisers

A&O Shearman on

The restructuring plan has so far proven to be a powerful tool to facilitate restructurings of complex capital structures. Two recent cases provide further helpful guidance for advisers when formulating a restructuring plan...more

Latham & Watkins LLP

The Smile Telecoms Restructuring Plan: A Closer Look

Latham & Watkins LLP on

A restructuring plan completed earlier this year by Smile Telecoms notches up a number of firsts. African telecommunications provider Smile Telecoms Holding Limited, incorporated in Mauritius, successfully completed a...more

White & Case LLP

Market reset could trigger restructurings in 2021

White & Case LLP on

HEADLINES - In March 2020, credit insurer Euler Hermes forecast a 43% increase in insolvencies in the UK in 2021, as well as a 26% uptick in France and 12% in Germany. - By December 2020, ratings agency S&P was...more

Goodwin

The Return of Crown Preference on 1 December, 2020

Goodwin on

The return of Crown Preference on 1 December, 2020 has widely united the restructuring community against the new measures. Whilst the rationale that the Treasury should have priority for sums received by a debtor on its...more

King & Spalding

Lenders’ Duties when Enforcing Security

King & Spalding on

Against the backdrop of the Covid-19 pandemic and global economic slowdown, we are being asked by borrower and lender clients alike whether lenders have a duty of care as regards enforcement. Two recent cases before the...more

McDermott Will & Emery

Special Situations and the UK Corporate Insolvency and Governance Act

The enacted Corporate Insolvency and Governance Act (the Act) introduces three permanent reforms to the existing insolvency legislation and certain temporary measures designed to address the immediate impact of COVID-19 on UK...more

Akin Gump Strauss Hauer & Feld LLP

[Podcast] UK Financial Restructuring During COVID-19

The economic landscape has changed immeasurably as a result of the COVID-19 pandemic. Access to cheap credit has disappeared, and many companies have raced to draw down on existing facilities in an effort to access as much...more

Hogan Lovells

Prescribed part to increase from £600,000 to £800,000 from 6 April 2020

Hogan Lovells on

The UK Parliament made an Order on 3 March 2020 which increases the prescribed part, payable to unsecured creditors from floating charge recoveries on the insolvency of a company from £600,000 to £800,000....more

White & Case LLP

Restructuring the next wave of cov-lite debt

White & Case LLP on

Cov-lite loans can leave lenders with limited restructuring options, but creative lenders will still find ways to bring debtors to the table - Recent data shows that investor protection in loan documents has fallen to its...more

White & Case LLP

Financial Institutions M&A: Sector trends - June 2019: Consolidation continues at pace—mega-mergers on the horizon

White & Case LLP on

The wait is over. Whispers of mega-deals have matured into agenda items for boards of many larger European banks. Overview - 3 highlights of bank M&A: - Bank consolidation: The numbers speak for themselves—100 regional and...more

16 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide