Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
Carlyn Taylor, global co-leader of FTI Consulting’s corporate finance and restructuring segment, was named Woman of the Year 2016 by the International Women’s Insolvency and Restructuring Confederation (IWIRC) late last year. In an interview complementing our Women in Restructuring survey, she talked to GRR about cutting her teeth in the telecoms restructuring boom of the late 1990s, mentoring younger women in the industry and balancing work with family life.
The US government recently approved changes to the Bankruptcy Code designed to enhance too-big-to-fail regulations - but practitioners still harbour doubts over whether the court system is an appropriate means of resolving systemically important banks.
Global Restructuring Review surveyed female practitioners from around the world at all levels of their careers, to hear their diverse experiences of working in cross-border restructuring and insolvency.
An appeals court in the Netherlands has granted requests for two local affiliates of the embattled Brazilian telecoms company Oi to enter full bankruptcy, overturning a lower court’s earlier refusal to convert suspension of payments proceedings.
Eastern European regulators have seen a slew of reforms over the last few weeks: Hungary has taken a novel approach to addressing cross-border insolvencies; Azerbaijan has introduced a new framework for resolving banks; and Ukraine’s restructuring regime enacted last year came into force.
The US’s biggest manufacturer of solar power cells will seek assistance from the White House to protect its industry from foreign competition, according to the terms of a DIP financing agreement submitted in its Chapter 11 proceedings in Delaware.
A US subsidiary of Argentine energy company YPF has abandoned a Chapter 11 plan proposed by its parent company in favour of a new agreement supported by its largest unsecured creditor, chemical manufacturer Occidental Chemical.
Korean firm Yulchon has been advising debt-ridden shipbuilder Daewoo Shipbuilding & Marine Engineering, which reached a restructuring agreement with bondholders this week as a condition of a US$2.6 billion state bank bailout.
US entities belonging to global communications group Avaya have submitted a Chapter 11 plan in a New York court, with plans to restructure a US$6.4 billion international debt pile.
DLA Piper has appointed Brian Davison QC as chair of its restructuring group in Canada following the departure of Mary Buttery for Cassels Brock & Blackwell.
The US Second Circuit Court of Appeal recently reversed a controversial district court decision on noteholder protections under the Trust Indenture Act, finding that a for-profit education provider’s restructuring did not violate the law. Keenly watched by noteholders in the US, the decision has various implications for overseas parties too, as Weil Gotshal & Manges partners Andrew Wilkinson, Alexander Wood, Patrick Bright and Nitin Konchady, and consultant Kate Stephenson, note.
Mark Knight, a former partner at Kirkland & Ellis in London, has joined European non-performing loan adviser Pillarstone, after a year there on secondment.
Weil Gotshal & Manges partner Adam Plainer was revealed as the new president of the UK’s Insolvency Lawyers Association (ILA) at its annual conference on Saturday, where an international panel discussed whether the UK will be able to keep its place as a forum of choice for restructuring in future.
Takayuki Maruyama and Naoki Kondo
Low Poh Ling and Wilson Zhu
Thursday, 25 May 2017. 110 Fetter Lane, London, EC4A 1AY, United Kingdom
Monday, 5 June 2017. 200 Park Avenue, New York, NY 10166, USA