Restructuring & Insolvency | Litigation & Dispute Resolution

We are in the middle of an unprecedented worldwide economic downturn. Major insolvencies in today's global market are increasingly complex, multi-jurisdictional affairs involving competing creditor claims from diverse groups. The possibility of things spiralling out of control is very real.

We deliver practical, commercial advice on how to deal with corporate restructuring and insolvency litigation as well as corporate failure. We have been involved in most of the major insolvencies and restructurings of recent years. We regularly draw on our expertise in our offices in Europe, Asia Pacific and the US, and work closely with non-contentious colleagues both in London and across our international network. This allows us to provide clients with a seamless service in relation to all the elements involved in a complex restructuring. For further details please contact Marc Florent (UK), Arnold Croiset van Uchelen (Mainland Europe), Angus Ross (Asia Pacific) and Michael Feldberg (US and Americas).

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Kaupthing Singer & Friedlander Ltd [2010] EWHC 316 (Ch) - The High Court has held that (objectively construed), the term "winding-up" (contained in a provision in a trust deed which subordinated the rights and claims of bondholders on the occurrence of a "winding-up") encompassed not only compulsory and voluntary liquidation but also administration where a notice of a proposed distribution to creditors has been given in accordance with rule 2.95 of the Insolvency Rules 1986.
After half a year of delays, the US Bankruptcy Court entered its order granting summary judgment in favor of Lehman Brothers Special Financing, Inc. on July 19, 2010.

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Allen & Overy has advised the facility agent and the lenders in the restructuring of the EUR 550 million complex financing the lenders made available to Global Garden Products, Europe’s largest lawnmower manufacturer.
The judgment represents a clear victory for Segregated Clients (represented by Allen & Overy) as we successfully defended the client money pool from claims in excess of $3 billion which were asserted by the Unsegregated Clients and the Lehman companies.
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