London Courts’ Allure as Restructuring Haven Draws Creditor Ire

Disgruntled creditors to the firm behind a struggling German real estate project are challenging the company’s decision to bring its restructuring hearing to London.

The Luxembourg-based holding company for Aggregate Holdings’ Project Fuerst is seeking to make England the center of main interests for the sprawling Berlin development, much to the chagrin of some junior creditors who argue the firm has no real links to the country. They argue the move is motivated by the expectation of a more favorable outcome for senior creditors.

London has a long reputation as a restructuring hotspot since the tools English law offers ...