On June 18, 2026, the English High Court sanctioned two interconnected restructuring plans that will eliminate approximately US$9.6 billion of debt and implement a broader operational reorganization of the group. Just eight days later, on June 26, 2026, Judge Glenn of the US Bankruptcy Court for the Southern District of New York granted Chapter 15 recognition to the UK proceedings, clearing the path for enforcement of the restructuring in the US.
This Insight gives an overview of the NFE restructuring, why New Fortress Energy chose the UK over Chapter 11 and what the future might hold for US quartered businesses looking to restructure. With views from colleagues in the US and UK considering the usefulness of the Part26A restructuring plan process for US corporates.