In this third and final instalment of our review of key issues concerning schemes of arrangements, we contrast schemes with US Chapter 11 proceedings.  The shape of a restructuring is often influenced by a number of key factors; we highlight those that are most likely to be relevant.

Scheme hot topics bulletin: Part III

Our first scheme hot topics bulletin covered jurisdiction, stays on challenges in foreign courts, new money and the imposition of new obligations, and class composition.  Part II addressed issues of valuation, third party releases, voting by ultimate beneficial holders and amendments to schemes.

This series of bulletins assumes a certain level of background knowledge.  For additional information, please see our recently-updated introductory guide to Schemes of Arrangement as Restructuring Tools.

German BaFin permits origination, restructuring and prolongation of loans to German borrowers by certain funds without a banking licence

June 8, 2015

“BaFin changes its administrative practice relating to loan funds 13 May 2015 On 12 May 2015, BaFin declared loan funds to be permissible. Thus, it is now possible to grant loans for the account of Alternative Investment Funds (“AIFs”) for which the German Investment Code (Kapitalanlagegesetzbuch – KAGB) specifies only a few or no product […]

Read the full article →

Weil’s London Restructuring and Structured Finance team advises Barclays on the £1.5 billion financial restructuring of the General Healthcare Group

June 4, 2015

A cross-practice London Restructuring and Structured Finance team from international law firm Weil, Gotshal & Manges has advised long-standing global client Barclays Bank on the restructuring of the General Healthcare Group (“GHG“), which trades as BMI Healthcare. With over £1.5 billion of debt, a wide array of divergent stakeholders and fluctuating market valuations, this restructuring […]

Read the full article →

Weil Represents Bondholder Group in Ukrainian Debt Restructuring Negotiations

May 27, 2015

Weil is representing a group of bondholders, led by Ukraine’s biggest creditor Franklin Templeton Investments, regarding Ukrainian debt restructuring negotiations with the Ukrainian government. The bondholder group also includes T. Rowe Price, TCW Group and BTG Pactual Europe. In February 2015, Ukraine formally requested further funding from the International Monetary Fund and cancellation of its […]

Read the full article →

Can ISDA’s Close-out Protocol Stay the Next Lehman Brothers?

May 21, 2015

Since the collapse of Lehman Brothers and the ensuing global financial crisis, policymakers, central banks and regulators have introduced a raft of new measures designed to assist the resolution and recovery of systemically important financial institutions. In an article for International Corporate Rescue, Andrew Wilkinson, Alex Wood and Paul Bagon evaluate legislative and market efforts […]

Read the full article →