Adding DE&I to the Turnaround Toolkit
At the core, the overarching goal of every turnaround or corporate restructuring, whether in or out of court, is to maximize enterprise value. When determining how best to accomplish that objective, enterprise leaders, together with their advisors, evaluate a variety of operational, legal, and...
Recent Delaware Decision Affirms Utility of Consent Rights
Anyone who is considering lending to, investing in, or partnering with a company must also consider how to protect their interests and rights after the transaction closes. How can a lender, investor, or partner ensure that its funds or other contributions are being used only as intended,...
Retail’s Next Wave of Challenges: Inflation, Labor, and Supply Chain
In recent months, retailers seem to be on a stronger footing but continue to face challenges spurred by the impacts of the pandemic. These impacts—labor shortages, supply chain issues, unpredictable inventory levels, and inflation—have created a rocky terrain for the retail landscape. By...
The New Normal: Impact of the Global Pandemic on U.S. Restructurings
The U.S. experienced the lowest total number of bankruptcy filings since 1986 last year, including individuals filing for bankruptcy, a somewhat surprising statistic given the devastating impact of the pandemic-driven shutdowns across the United States and around the world. Bucking that trend,...
Smooth Landing for Norwegian Air Group in Irish High Court Cross-Border Restructuring
On 26 May 2021, the Norwegian Air Group successfully completed its global restructuring, which began in the Irish High Court on 18 November 2020. At the commencement of the restructuring, the group was one of the largest low-cost airline carriers in Europe and among the 10 largest in the world. It...
The Impact of COVID-19 on Cayman Islands Restructurings
The long-term global impact of the COVID-19 pandemic will be far-reaching. It has already led to a significant drop in economic activity across the world, with certain industries, such as aviation, retail, hospitality, and tourism, being particularly affected. The Cayman Islands is home to one of...
The Impact of COVID-19 on Restructurings in Singapore, Hong Kong, and China
In the wake of the novel coronavirus (COVID-19), there has been significant disruption to the global economy. With lockdowns implemented, demand for goods and services has dropped drastically, and production and provision of services have slowed. Social distancing measures and travel restrictions...
UK Flag and Arrows
A week is often described as a long time in politics, and so also, it seems, in the restructuring market. In May, one week alone saw significant strides forward with: The judgment of Mr Justice Snowden in Virgin Active —the first contested showdown of the new Restructuring Plan, pitting the power...
Germany Offered Swift and Effective Pandemic First Aid
From an economic perspective, Germany has weathered the pandemic quite well until now—at least if success is measured in low unemployment and insolvency figures. How that was achieved, what changes were made to the German legal restructuring framework, and what may follow after the national...
Hands holding a retail store
The last decade has been enormously transformative for the retail industry. The soaring popularity of e-commerce, shifts in consumer behavior and demographics, and declining store foot traffic have pushed many traditional brick-and-mortar retailers to the brink, and some were tipped over into...