The French conciliation procedure, introduced in 2005, has become such a key procedure in France that it cannot be ignored. For any restructuring involving France (whether partially or wholly), the possibility of a conciliation procedure has to be seriously considered.
The Insolvency Lawyers’ Association (ILA) has announced that Adam Plainer, Head of the Business Finance and Restructuring Group at Weil, Gotshal & Manges (London) LLP, has been appointed its next President, with effect from April 2nd 2017. Adam succeeds Euan Clarke, dispute resolution partner at Linklaters. Adam said of hisRead the full article →
In a recent eagerly anticipated and highly significant ruling, the Grand Court of the Cayman Islands allowed the helicopter group CHC to appoint provisional liquidators over the group’s parent as part of the group’s Chapter 11 Plan implementation without having to solicit shareholder authorisation.
Cancellation of debt – a key element of most restructurings – triggers taxable income. The German Tax authorities had issued an administrative decree (the “Tax Restructuring Decree” – Sanierungserlass), declaring that, upon the satisfaction of certain requirements and conditioned on forfeiture of any loss carry forwards, the cancellation of debtRead the full article →
The complex restructuring of the well-known South African retail group, Edcon, completed yesterday. Weil played a leading role in the restructuring, advising the ad hoc committee of senior secured noteholders which included Franklin Templeton, Brigade, AllianceBernstein and Harvard Management Company. The transaction involved eleven months of extensive negotiations with variousRead the full article →