Overview of French conciliation procedure

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.

Supreme Tax Court Abolishes German Restructuring Privilege

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 →

Weil advises on one of the largest leveraged EMEA deals of the year, the restructuring of the South African retail group, Edcon

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 →