Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
The largest independent oil producer in the North Sea has filed for Chapter 15 protection in New York in support of a scheme of arrangement pending before the English High Court.
A South Korean court has granted bankrupt cargo hauler Hanjin permission to wind down its European operations, as parts of the global group’s other assets go up for sale.
Two Hong Kong-based liquidators could be facing a “minimum” six-month custodial sentence after failing to provide documents shedding light on a bankrupt lawyer’s assets as ordered to by a court.
A Texas bankruptcy court has granted distressed Korean shipping firm STX Offshore emergency protection from creditor claims via Chapter 15, blocking creditors’ access to US$40 million in London arbitration awards.
DLA Piper has added Rachel Albanese as a partner in its New York office—the firm’s second restructuring hire in the past week.
While global take-up of the UNCITRAL Model Law on Cross-Border Insolvency has been slow, an assessment of trends and landmark rulings since the adoption of the US’s Chapter 15 appears to demonstrate confidence in its philosophy.
A group of individual bondholders who refused to enter into Argentina’s global sovereign debt settlement have lost in their bid to enforce claims against money held in New York, days before the funds go beyond the reach of the US courts.
Calgary-based energy and environmental services company Tervita has applied to a New York court for Chapter 15 recognition of its Canadian recapitalisation.
DLA Piper has added cross-border restructuring specialist Macaire Bromley as a partner in its Sydney office.
An Australian court has, for the first time, applied the UNCITRAL Model Law on Cross-Border Insolvency to allow the foreign representative of a bankrupt US estate to claim funds not belonging to the foreign debtor.
This year’s Pinsent Masons Restructuring and Insolvency Conference examined the anticipated implications of Brexit for the restructuring and insolvency legal landscape, with a focus on the UK’s role as a forum for cross-border restructuring.
Firms in the US and Singapore have made lateral hires in recent weeks, while others in Bermuda, the UK and Australia have announced internal promotions. Meanwhile, the Insolvency and Bankruptcy Board of India has a new chairman and four new members.