Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

UK Privy Council reinterprets “legitimate expectation” in landmark bailout claim

The UK Privy Council has dismissed a claim brought by creditors of a bailed-out insurance group against the government of Trinidad and Tobago, setting a new, narrower standard of “legitimate expectation” in the context of wider public policy concerns.

US Senate passes Puerto Rico restructuring bill as default looms

Korean shipbuilder’s rehabilitation recognised in UK

Community round-up: US and UK hires

Oaktree Capital executive faces extradition to UAE

Oi creditor commences involuntary bankruptcy in the Netherlands

A Dutch creditor of Brazilian telecoms company Oi has commenced involuntary bankruptcy proceedings against one of its affiliates in an Amsterdam court, as Oi confirmed it had received provisional relief from a UK court.

Russian railcar leaser bids to restructure Eurobonds following stalled negotiations

Akin Gump is advising Russia-focused railcar leasing company Brunswick Rail, which has announced the terms of a recapitalisation for US$600 million worth of guaranteed notes after negotiations with Eurobond holders reached an impasse earlier this month.

LONDON: Lawyers warn of proposed new US intercompany debt rules

Newly proposed intercompany debt regulations in the US could result in many debt instruments between related parties being characterised as equity, lawyers warned at a recent seminar, as they explored the impact of the potential changes on cross-border transactions.

Many ways of standing still

Nick Lister, a senior associate at Allen & Overy in London, discusses how the Ukrainian steel and mining business Metinvest imposed a moratorium on noteholder action through an English scheme of arrangement – and ponders some of the jurisdictional issues that could face other scheme users in future.

Bryan Cave hires from Bracewell in New York

Bracewell & Giuliani’s former aerospace and defence chair Andrew Schoulder has joined Bryan Cave’s bankruptcy team in New York.

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Events

Latin Lawyer - GRR Restructuring Summit

09.00 AM, Monday June 6, 2016, The Metlife Building, Paul Hastings, 200 Park Avenue, New York, NY 10166, USA

INSOL International Academics’ Colloquium

July 13-15, 2016, London United Kingdom