Insolvency and Restructuring News
Scottish firms Burness Paull and Levy & McRae are facing legal action from the liquidators of Heather Capital over their involvement in the collapse of the $400m hedge fund.
William Fry has emerged as the winner of the Irish Department of Finance’s tender to appoint a legal adviser to work on the potential capital restructuring of Ireland’s investments in Allied Irish Banks (AIB).
White & Case has advised logistics and parcel distribution company DX Group on its acquisition of assets from its collapsed competitor City Link.
Gateley, Macfarlanes and Mayer Brown have all played key roles advising on the controversial administration of courier business City Link, which was handed over to EY on Christmas Eve.
Collyer Bristow has settled its dispute with Scottish football club Rangers for £24m, bringing an end to the long-running litigation over fees the firm was paid following a controversial 2011 takeover.
The liquidators of Gibraltar firm Marrache & Co are suing the local branch of accountancy firm Baker Tilly for negligence, breach of duty, conspiracy and dishonest assistance for audit advice given prior to Marrache’s collapse in 2010.
Stephenson Harwood has earned £46,000 from the liquidation of Coventry City Football Club according to recent insolvency filings with Companies House.
Freshfields Bruckhaus Deringer, Macfarlanes and Forsters are among the firms to advise on the rescue of the Monarch Group by investment firm Greybull Capital.
Dentons has hired a partner and four associates from King & Wood Mallesons SJ Berwin (KWMSJB)’s Paris office in an effort to strengthen its restructuring team, following the departure of two partners earlier this year.
Insolvency and Restructuring Briefings
Insolvency litigation: directors can’t dodge liability with illegality defence download subscription
The defence of illegality – which prevents a claimant from bringing a claim that arises out of its own illegal acts – can’t be used where the company is claiming against its directors.
School construction projects – contractor insolvency download subscription
The decision to invest in a construction project is a major event for an educational establishment. So, if the contractor becomes insolvent, this can cause significant problems.
Collective redundancies: the meaning of ‘establishment’ download subscription
The ECJ has confirmed that ‘establishment’ means the local employment unit to which the redundant worker is assigned.