Simon Hurry and James Tee, Collas Crill
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Considerations of “environmental, social and governance” (or ESG) criteria with respect to a company’s management and operations continue to take on greater importance in lenders’ and investors’ credit and investment decisions. How a borrower or a target company measures up to these ever-developing ESG standards will impact its cost of capital and value to potential investors and acquirors.
Patrick Gearon and Roger Elford, Charles Russell Speechlys
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Luc Defferrard and Tervel Stoyanov, Walder Wyss Ltd
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Maria João Ricou and Manuel Requicha Ferreira, Cuatrecasas
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Matthew Czyzyk, Natalie Blanc and Natalie Raine, Ropes & Gray
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Alexandros Kontogeorgiou and Georgia Papathanasiou, Kontogeorgiou Bakopanou & Associates Law Firm
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Ferdinand Hengst and Agnieszka Gronwald, De Brauw Blackstone Westbroek
This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
In summary
Foreign companies seeking to protect their overseas assets from their creditors have often turned to the United States for immediate relief under Chapter 11 of the Bankruptcy Code. Establishing jurisdiction in the US for purposes of a bankruptcy filing has proved easy – the establishment of a nominal professional fees retainer with a local law firm on the eve of a bankruptcy filing will suffice.
Earlier this year, Mexican airline, Grupo Aeromexico, S.A.B. de C.V. (together with its affiliates, the “Debtors”) announced that their creditor body had overwhelmingly voted to approve their proposed Chapter 11 restructuring plan (the “Plan”) save for one class of unsecured creditor claims that voted to reject the Plan. Those claims were held by Invictus Global Management, LLC (“Invictus”), a distressed investment fund that recently purchased the claims subject to a “plan support provision” which purportedly compelled the claimholder to support the Debtors’ Plan.