Restructuring update – 25 November

Further to its announcement on 27 October 2025, Petrofac (“Petrofac” or “the Group”) provides the following update. As previously announced, Petrofac’s Executive Management is working alongside administrators of the Group’s ultimate holding company, Petrofac Limited (in administration), to preserve value, operational capability and ongoing delivery across the Group’s operating and trading entities. This includes M&A…

Sushi Bikes bankrupt? – Munich startup

The Munich-based e-bike startup Sushi Bikes Sushi Mobility GmbH, the company behind the Sushi Bikes brand, faces an uncertain future. According to a ruling by the Munich District Court on November 14, 2025, preliminary insolvency proceedings have been initiated for Sushi Mobility GmbH. This means the company can only dispose of its assets with the…

Intoxicating Hemp Companies Facing the Ban Should Consider Federal Bankruptcy Relief Early

The “loophole” that for years exempted intoxicating hemp from the prohibitions of the Controlled Substances Act (“CSA”) is set to close on November 13, 2026, following the federal ban enacted earlier this month. Companies that manufacture, distribute, sell, or purchase intoxicating hemp products (“IH Companies”) and are, or anticipate, experiencing financial distress have less than…