Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
The European Commission has published a set of proposals aimed at guiding resolution authorities in drafting minimum requirements for banks’ regulatory capital and liabilities under the Bank Recovery and Resolution Directive (BBRD).
At the debut Latin Lawyer - GRR Restructuring Summit taking place on 6 June in New York, Paul Hastings partner and conference co-chair Joy Gallup will moderate a panel on Latin American debtor-in-possession financing. Here, Gallup previews the panel in a Q&A with Latin Lawyer.
The Court of Appeal of the Cayman Islands has barred the partners of a Cayman holding company from winding it up because they had expressly agreed not to in a partnership agreement.
Advisory practice Hilco Merchant Resources and law firm Butler Snow have announced hires to spearhead expansions into new territories, while lawyers have moved firms in major US cities and two Florida boutiques have joined forces.
The Canadian arm of bankrupt US children’s clothes retailer Aeropostale has broken lose from its parent’s Chapter 11 case to pursue its own Canadian liquidation proceedings, with a cross-border recognition action being terminated in the process.
Shearman & Sterling has advised two of Greece’s largest banks in an agreement with US investment firm Kohlberg Kravis Roberts (KKR) to restructure companies holding up to €1.2 billion worth of non-performing loans (NPLs).
The continuing rise of corporate, banking and sovereign debt around the world requires less regulation and more supervision, argued sovereign debt expert Professor Rodrigo Olivares-Caminal of Queen Mary, University of London, at a conference held by the University of Reading this week.
The Bahamian Liquidation Rules Committee has published a list of foreign jurisdictions whose insolvency proceedings the Bahamian courts will now be able to recognise, closing a lacuna in the local law that left foreign creditors unable to access Bahamian assets at least twice in the past year.
Mexican oilfield services joint venture Oro Negro has hired lawyers from Kirkland & Ellis in Los Angeles and New York alongside Latin American counsel to restructure its debt following defaults on overseas bond repayments.
The Monetary Authority of Singapore has revealed a set of proposed enhancements to its resolution regime for financial institutions - and set a deadline of 30 May for public comments.
Kannan Ramesh SC is a Judicial Commissioner of the Singapore Supreme Court with a long-time focus on cross-border insolvency and restructuring. He spoke to GRR about the city-state’s adoption of the UNCITRAL Model Law, cross-border cooperation in the context of the Trans-Pacific Partnership, and why his elderly grandfather was disappointed when he became a lawyer.
Advisory firm FTI consulting has named Carlyn Taylor and Michael Eisenband as the new global co-leaders of its corporate finance and restructuring practice.