Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
The late Bruce Leonard, founder of the International Insolvency Institute (III), received posthumous honours at GRR’s Charity Awards on 21 June, in the form of a poignant film tribute recorded a few days earlier at a meeting of the very organisation he helped found.
A Japanese company at the centre of the auto industry’s biggest-ever product recall has filed for bankruptcy protection in the US and Japan to give itself “a much needed breathing spell” while it finalises a US$1.6 billion sale to sponsor Key Safety Systems.
A Delaware court has ruled that fraudulent transfer claims under the US Bankruptcy Code can stretch to payments made abroad, and has separately agreed to hear unjust enrichment claims against Germany's BMW in the collapse of a US hybrid car manufacturer.
An offshore oil drilling group owned by Brazilian conglomerate Odebrecht has entered into agreements with creditors to restructure its 15 billion reais (US$4.5 billion) debt pile, and has signalled its intention to file for Chapter 15 recognition once the agreements receive court sanction.
More than 100 attendees enjoyed a glittering evening at GRR’s inaugural Charity Awards on 21 June, where the winners in nine individual categories – from most important recognition decision, to large law firm that impressed – were announced.
GRR’s first annual Charity Awards ceremony in London this week gave special honours to the 30 law firms that topped our GRR 100 research.
GRR’s inaugural Charity Awards took place in the elegant Palm Court of the Waldorf Hilton in London on the evening of 21 June. We bring you a selection of the best photos from the ceremony and dinner.
Following months of extensive research, Global Restructuring Review is pleased to unveil our inaugural GRR 100, an annual guide to approved law firms for cross-border restructuring and insolvency matters around the world - as well as the top ranked firms in our GRR 30.
Is judicial law-making fit for purpose in an age where courts are required to tackle the collapses of global businesses, the president of the UK Supreme Court, Lord David Neuberger, asked in his keynote speech at the International Insolvency Institute’s (III) annual conference in London this week.
A court in Bermuda has sanctioned a scheme of arrangement for global oil explorer Archer, the first Bermudan scheme used to amend the terms of Norwegian law-governed debt.
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discussess the role of the group coordinator under the new group provisions in the recast European Insolvency Regulation.
Alvarez & Marsal has recruited EY restructuring partner Ben Cairns in London, the latest hire in a sustained recruitment drive from the Big Four accounting firms.
“But where is the debtor’s centre of main interests (COMI) really located?” At a recent event in Germany, a British barrister ran through the recast European Insolvency Regulation’s new provisions that codify established case law on good and bad forum shopping, and fill an erstwhile statutory silence.
Takayuki Maruyama and Naoki Kondo
Low Poh Ling and Wilson Zhu