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Debt Restructuring Restructuring

Hogan Lovells

Restructuring Plans: how to plan for an exit

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An earlier version of this article appeared in Estates Gazette. Over the last 18 months we have seen a number of retailer restructuring plans, which have rewritten landlords’ leases and imposed sweeping rent cuts, whilst...more

Paul Hastings LLP

English Court Approves Enzen Part 26A Restructuring Plans in First Case With HMRC Active Support

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On 25 March 2025, the English Court approved the interconditional dual restructuring plans of Enzen Global Limited and Enzen Limited (Enzen). The plans amend and extend £50 million senior secured liabilities, provide for new...more

Jones Day

Business Restructuring Review Vol. 24, No. 2 | March–April 2025

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Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more

Proskauer Rose LLP

Private Credit Restructuring: Priming DIPs in Focus

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In most chapter 11 cases, existing first lien lenders provide post-petition financing to preserve collateral value and maximize recovery. In some situations, a stressed borrower may threaten to pursue a hostile chapter 11...more

Latham & Watkins LLP

Cram-across: Sino-Ocean Restructuring Plan Makes Waves

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The evolution of the English RP continues to push the jurisdictional envelope. The English court’s sanction of the Sino-Ocean restructuring plan (RP) marks an interesting development in the evolution of the English RP....more

Jones Day

Business Restructuring Review Vol. 24 No. 1 | January–February 2025

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The Year in Bankruptcy: 2024 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative...more

DLA Piper

Impactful Rulings and Cases Shaping Bankruptcy Law: 2024 Restructuring Recap

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The restructuring landscape in 2024 demonstrated dynamic shifts, with courts across jurisdictions issuing pivotal rulings that helped reshape bankruptcy law....more

Latham & Watkins LLP

Adler: A Spanish Perspective

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How would the Spanish court tackle the issues faced by the English Court of Appeal in Adler? Our analysis provides an instructive comparison for groups, shareholders, and creditors when considering where to restructure....more

Opportune LLP

Financial Distress Solutions: Expert Advice for Businesses

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Imagine your business steadily climbing the ladder of success when a misstep in the market suddenly leads to a financial stumble. Assets underperform, capital markets dry up, and cash flows dwindle, causing financial...more

Nutter McClennen & Fish LLP

Recognizing + Addressing Issues in Corporate Restructurings

Andrew Tenzer, a partner in Nutter’s Corporate Department and a member of the Bankruptcy, Restructuring and Workout practice group, discusses recognizing and addressing issues in corporate restructurings that include causes...more

Jones Day

Adler: English Court of Appeal Overturns Restructuring Plan

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The Situation: The Adler Group sought to restructure more than €6 billion of debt by means of a UK restructuring plan ("RP"), to give itself a runway for a planned wind-down and asset sales, leading to an enhanced return for...more

A&O Shearman

Court of Appeal Overturns Restructuring Plan Sanction and Looks at Cram Down

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On 23 January 2024, Snowden LJ handed down the Court of Appeal's judgment in the Adler Restructuring Plan case - AGPS Bondco plc - overturning the sanctioning of the Plan by the High Court in April 2023....more

Latham & Watkins LLP

English Court of Appeal Overturns Adler Sanction: What Next for Restructuring Plans?

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The decision represents the first appellate-level ruling on the Part 26A regime. On 23 January 2024, the Court of Appeal set aside the sanction of the Adler restructuring plan (RP) in the first appellate-level decision on...more

Proskauer Rose LLP

Trends in Private Credit Restructuring: Out of Court “Change of Control” Transactions

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Restructurings defy a one-size fits all approach because every deal is unique and different tools are required to solve different problems. At one end of the restructuring continuum is the so-called “amend and extend,” where...more

Lathrop GPM

Building Nonprofit Resilience: Dealing with Financial Distress

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In this multi-part series, we highlight strategic steps that nonprofits can take to build organizational resilience in three different phases of its life cycle—in times of health, when beginning to experience financial or...more

Katten Muchin Rosenman LLP

Intercreditor Distressed Disposal Provisions: Pragmatic Decision Provides Certainty for Stakeholders

Investors in LMA-based intercreditor agreements (ICA) should be reassured by the commercial approach recently taken by the High Court in construing the "Distressed Disposal" provisions (DD Provisions)....more

White & Case LLP

Ready for restructuring

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HEADLINES - -Rising interest rates and reduced refinancing options are increasing the likelihood of restructuring and financial distress in the next 12 months -Cov-lite debt packages have given borrowers breathing...more

A&O Shearman

Judge Drain Tackles Private Equity and Fraudulent Transfers in ‘Tops’ Decision

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On October 12, the Honorable Robert D. Drain, U.S. Bankruptcy Judge for the Southern District of New York, issued his final decision from the bench in the bankruptcy cases of supermarket chain Tops Holdings II Corporation...more

A&O Shearman

Recent restructuring plan cases: important guidance for advisers

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The restructuring plan has so far proven to be a powerful tool to facilitate restructurings of complex capital structures. Two recent cases provide further helpful guidance for advisers when formulating a restructuring plan...more

Law Matters

Q&A: Why Real Estate Investors Must Plan for the Possibility of Distressed Assets

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Q&A With Bill Lobel of Distressed Capital Resources...more

Alston & Bird

Smile Telecoms – Part 26A Restructuring Plan Proposed by a Non-English Company Excludes ‘Out of the Money’ Creditors and...

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Our Financial Restructuring & Reorganization Group previews a significant sanction hearing after the court exercised its power under Section 901C(4) of the Companies Act 2006 to exclude ‘out of the money’ creditors and...more

Latham & Watkins LLP

The Smile Telecoms Restructuring Plan: A Closer Look

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A restructuring plan completed earlier this year by Smile Telecoms notches up a number of firsts. African telecommunications provider Smile Telecoms Holding Limited, incorporated in Mauritius, successfully completed a...more

Baker Donelson

A Conversation with Jan M. Hayden: Making Dollars and Cents of a 40-Year Career in Bankruptcy and Restructuring

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Dubbed the "Baroness of Bankruptcy" by Super Lawyers, Jan Hayden has spent her 40-year career developing a national reputation as a widely respected leader in the field of insolvency and restructuring. Jan's myriad of...more

Dechert LLP

Automatic Stay Must Give Way: Bankruptcy Court Lets Non-Core Claims Be Decided Through Arbitration

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In a recent opinion, the Bankruptcy Court for the District of Maryland dealt with a conflict between the strong presumption in favor of enforcing arbitration agreements and the Bankruptcy Code’s emphasis on centralization of...more

Dechert LLP

Hurricane Energy Restructuring Plan: Court Declines to Sanction Plan Cramming Down Shareholders

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On 28 June 2021, the English High Court handed down a judgment declining to sanction a restructuring plan proposed by Hurricane Energy PLC, which sought to cram down the dissenting class of shareholders and hand over the...more

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