Macfarlanes has advised on the sale of a portfolio of shopping centres owned by CBRE Britannica to Kennedy Wilson for c. £250m. The firm acted for Malcolm Shierson and Daniel Smith of Grant Thornton as administrators and ING, Deutsche Hypothekenbank and Hypothekenbank Frankfurt as lenders.
Paul Hastings LLP, a leading global law firm, is representing the government of Quebec, the city of Lac Megantic and the victims of the July 6, 2013 railway disaster with respect to the Chapter 11 case of Montreal Maine & Atlantic Railway, the entity involved in the train derailment, in which 47 people died.
Global Restructuring chair and partner Luc Despins is leading the Paul Hastings team, which also includes Of Counsel Robert Winter and associate Christopher Fong.
Herbert Smith Freehills has advised Card Protection Plan Limited (CPPL), a subsidiary of CPPGroup Plc (CPP), on its ground-breaking scheme of arrangement which is to be used as a means of paying redress to eligible customers who purchased certain of the company's products. This is the latest stage in the ongoing advice Herbert Smith Freehills has been providing to the CPP Group on a range of corporate, finance, regulatory and restructuring matters since being engaged in May 2012.
On August 21, 2013, the Bankruptcy Appellate Panel for the U.S. Court of Appeals for the Eighth Circuit (the “Panel”) issued a unanimous ruling in favor of Davis Polk’s client Patriot Coal Corporation (“Patriot”), a leading producer and marketer of coal in the eastern United States. The Panel reversed an earlier ruling of the U.S.
DLA Piper advised Orchard Supply Hardware Stores in the sale of its business to Lowe’s Companies Inc., which has been approved by the United States Bankruptcy Court for the District of Delaware.
The sales agreement between Bfw and Meleghy was signed on 2 August 2013 following the opening of insolvency proceedings. The insolvency plan, which will be submitted by 16 August 2013, still needs to be approved by the creditors’ meeting.
The Dentons team, led by German Managing Partner Andreas Ziegenhagen, is advising Bfw in the protective shield proceeding and designing the insolvency plan on behalf of them. In addition, a trust company of the Dentons group is holding the shares of Bfw as a double-sided trustee.
Creditors of Edison Mission Energy on Wednesday asked an Illinois bankruptcy judge for permission to sue the company's nonbankrupt parent, Edison International, based on claims that it sucked all the value out of its subsidiary until it was no longer of use.
The official committee of unsecured creditors argued in a court filing that EME itself cannot bring suit against its parent because of a conflict of interest, and that it should be allowed to do so in the interest of maximizing value to the estate.
A Florida bankruptcy judge on Thursday confirmed the Chapter 11 liquidation plan for Tousa Inc. despite objections from the U.S. trustee, ending the beleaguered homebuilder's protracted, five-year stay in bankruptcy.
U.S. Bankruptcy Judge John K. Olson confirmed the plan over concerns by the U.S. Trustee's Office regarding third-party releases, the process for fee request applications and the fate of undistributed funds.
“People negotiated this plan painfully,” Judge Olson said. “This is an integrated document.”
Global law firm Eversheds has advised contemporary property developer Urban Splash and its shareholders on a business restructure, involving the creation of a new holding company called Urban Splash Holdings.
The new management company and a number of the asset holding companies are entirely free from bank debt and will be the entities via which Urban Splash will undertake new projects going forward; both on their own and in joint venture partnerships.