Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
The recent oil price slump and attendant rise in oil and gas insolvencies has been exacerbated by the interference of political actors whose actions can both precipitate distress and damage turnarounds, a panel at the International Bar Association’s Annual Conference in Washington, DC has argued.
A New York court has approved the Chapter 11 plan of Cyprus-registered shipping firm Primorsk, giving a green light to the company to disperse the proceeds of a recent tanker fleet sale and wind down.
This year’s International Bar Association Annual Conference kicked off in Washington DC earlier this week with a panel discussing the promises and progress of the early years of the European Banking Union.
The Supreme Court of Gibraltar has recognised the liquidation of a web development company in the UK, with liquidators opting to use the European Insolvency Regulation over the peninsula’s brand new legislation based on the UNCITRAL Model Law.
A lawyer who worked on one of the first transnational involuntary liquidations in the US, Hugh Ray III, has joined Pillsbury Winthrop Shaw Pittman as a partner in the firm’s Houston insolvency and restructuring practice.
The Court of Justice of the European Union has dismissed a set of compensation claims for losses incurred as a result of the restructuring of two Cypriot banks in 2013, overturning an earlier ruling by the EU’s General Court that found it lacked jurisdiction to hear the cases.
A group of maritime lien creditors has lodged an appeal against a decision by the New Jersey District Court denying their request to circumvent bankrupt Korean cargo shipper Hanjin’s Chapter 15 protections in order to arrest its ships.
A New York appeals court has given the trustee to the noteholders of collapsed Greek telecoms company Hellas the chance to recover over half a billion dollars from a group of private equity firms.
Firms across the UK and US including Winston & Strawn and Paul Hastings have bolstered their respective insolvency offerings over the past several weeks.
A Chicago bankruptcy court has found that a Korean company should not have settled an arbitration in the US without its approval, making a landmark ruling that a Chapter 15 filing alone does not empower a foreign debtor to operate its US business or dispose of its US assets in the absence of a court's authority.
Year-on-year drops in economic growth and a ballooning debt bubble have placed China in a debt-to-GDP “danger zone”, similar to Japan in the late 1980s, and the UK and US ahead of 2008. With a banking crisis potentially on the horizon, the International Insolvency Institute (III) gathered a selection of speakers from around the world to examine the challenges facing China and its trading partners in this new era.
Shane Ramsey has left Kilpatrick Townsend & Stockton in New York to join Nelson Mullins Riley & Scarborough as a partner in its bankruptcy, restructuring and creditors’ rights team in Nashville.