Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
A US district court has stayed three civil suits challenging the constitutionality of Puerto Rico’s recently enacted Moratorium Act, until February 2017 – but it will schedule a hearing in due course to see if there is cause for relief from the stay.
Canadian-Colombian oil company Pacific Exploration has won court approval in Canada for its restructuring deal with Canadian financier Catalyst.
Chinese state-owned lenders to the bankrupt industrial fishing conglomerate China Fishery Group have filed a string of objections in a US court, after an international consortium of financiers moved to appoint a Chapter 11 trustee.
Advisory firm Duff & Phelps has relocated one of its London leaders to Hong Kong following predictions of an increase in defaults in the Asia region, while its New York office has hired a new managing director from Deloitte.
A recent debate in Brussels considered the virtues of different insolvency regimes in the US and EU for the purpose of choosing a centre of main interest (COMI) – and found that forum shoppers are probably best off in America.
JP Morgan Chase and Deutsche Bank have agreed a settlement with the receiver of the US banking group Washington Mutual’s estate, bringing an end to several long-running litigations arising from the bank’s 2008 collapse.
The International Women’s Insolvency and Restructuring Confederation (IWIRC) has revealed a list of 39 restructuring specialists from across the globe who will sit on its board for 2016 to 2017, serving under new chair Nancy Valentine of US firm Ice Miller.
Borden Ladner Gervais has added Montréal-based Hugo Babos-Marchand as a partner in its banking and insolvency groups.
Morrison & Foerster and Brazilian firm Felsberg Advogados are working on an alternative restructuring plan for Brazilian Telecoms company Oi, along with São Paulo–based consultancy Integra Associados, and New York investment banking boutique ACGM.
A Texas bankruptcy court has departed from earlier precedent on the application of foreign stays in the US under Chapter 15, establishing that US bankruptcy courts will not always apply the law of a foreign jurisdiction to US creditors and US-based claims.
“Mediation of restructuring and insolvency-related disputes is a growing trend,” GRR kept hearing repeatedly from practitioners at events and meetings around the world. We set out to investigate and found that, while mediation is widely encouraged and used in North America, the process seems to be quite different from what is understood as mediation in Europe - where it has yet to catch on.
Skadden Arps Slate Meagher & Flom has announced the promotion of one of its restructuring lawyers to counsel; US firm Hedrick Kring has hired a partner from Akin Gump; and a UK insolvency practitioner from AlixPartners has moved to accountancy and advisory firm Moore Stephens.
September 7-11, 2016, The Hard Rock, San Diego, United States