syncreon’s Financial Restructuring Implemented By Landmark English Schemes of Arrangement With Parallel Chapter 15 and CCAA recognition

syncreon Group Holdings B.V. (the “Company” and together with its subsidiaries, “syncreon”) completed its landmark financial restructuring today. As has been widely reported, syncreon’s reorganization is perhaps the first-ever use of an English scheme to restructure debt issued by a U.S.-based global enterprise. This also appears to be the firstRead the full article →

First Irish Creditor Scheme – Complex Cross Border Securitisation Restructuring

Weil advised Ambac Assurance UK Limited (“Ambac”) in relation to the restructuring of reinsurance liabilities of Ballantyne Re plc (“Ballantyne”), through an Irish scheme of arrangement (the “Scheme”) paired with U.S. Chapter 15 recognition. The liabilities comprised New York law-governed senior secured notes of approximately U.S.$1.65bn issued by Ballantyne inRead the full article →

Finance Bill 2020: Key Insolvency Measures

On 11 July the government published draft legislation for the Finance Bill 2020.  We set out below details of the key insolvency measures in the proposed legislation. The draft legislation is open for technical consultation until 5 September 2019, but the principles of the legislation are not expected to change.Read the full article →

Weil hosts IWIRC London Network

On Thursday 27 June, Weil hosted the first anniversary and awards party of the International Women’s Insolvency & Restructuring Confederation (“IWIRC”) London Network on the roof terrace of its London offices. The event was well attended with over 100 guests enjoying a thought provoking talk from Susan Dunn of Harbour Litigation FundingRead the full article →

New tax developments for insolvency and restructuring deals

The below is a quick snapshot of three recent tax-related developments in the insolvency and restructuring sphere. Farnborough – appointment of a receiver and tax grouping The Court of Appeal recently handed down its judgment in the case of Farnborough Airport Properties Co and another v Revenue and Customs Commissioners,Read the full article →