Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
16 November 2017
What level of corruption is necessary to stop a US court granting Chapter 15 recognition to a foreign company? And do US avoidance provisions have international reach? A panel of four well-known names in the US tackled these questions in the context of Russian bankruptcies and courts split on extraterritoriality.
08 November 2017
In a multinational group insolvency, how do you safeguard and maximise the value of healthy parts of the business? Speakers at GRR Live New York compared the bankruptcies of telecoms group Nortel and imaging software company Kodak, concluding that Nortel benefited from selling the right kind of intellectual property, at the right time.
03 November 2017
A panel of American lawyers sitting in Ireland discussed why foreign companies in distress are increasingly choosing the US as the destination for their restructuring – and told delegates how to ensure they get their case heard in an American bankruptcy court once they’ve chosen the US as a jurisdiction.
02 November 2017
Panellists at the first GRR Live event in New York discussed whether jurisdictional competition for control of global insolvency proceedings is a positive development, taking in subjects from forum shopping to "Brexit" and recent developments at UNCITRAL.
23 October 2017
The European Union’s Single Resolution Mechanism (SRM) rose to its first challenge – the resolution of Spain’s Banco Popular – in summer 2017, but obstacles to the smooth functioning of the regulation could still arise when it is applied to cases that cross Europe’s borders, according to speakers at the Single Resolution Board’s second annual conference in Brussels.
20 October 2017
As massive new markets emerge in Asia and elsewhere, how can Greece remain relevant to NPL investors? That was the question posed in a keynote presentation by David Edmonds, financial advisory global head at Deloitte, at DDC Financial’s European Investment Summit in Athens last week.
20 October 2017
The EU Commission Directive proposal on preventive restructuring frameworks contains some "extremely useful" measures but could have minimal impact in some member states, according to speakers on the opening panel of INSOL Europe's 2017 congress in Warsaw.
19 October 2017
A panel at the inaugural GRR Live in Hong Kong considered the future of schemes of arrangement – and the future availability of other restructuring mechanisms in the special administrative region – against practical realities such as the court’s unwillingness to sanction the use of provisional liquidators solely for restructuring purposes.
18 October 2017
On 17 October, GRR held its first conference in Hong Kong at offices of Freshfields Bruckhaus Deringer, featuring a keynote speech by Hong Kong Companies Court Judge Jonathan Harris.
17 October 2017
Ten international insolvency brains came together at the United Nations building in Vienna to argue their case for what UNCITRAL’s Working Group V should pick up next: from a model law on sovereign debt restructuring, to an UNCITRAL-sponsored “law to die by”.
06 October 2017
China’s official non-performing loan (NPL) ratio is just 1.74% with portfolios up for grabs worth US$250 billion, according to the government. But the true figure could be up to US$1 trillion, two speakers argued at an event in London last week, as they discussed opportunities and stumbling blocks for investing in the People’s Republic – a market so big investors could hunt for things to buy “with possibly no competition”.
18 September 2017
The Southern District of New York's Chief Judge Cecilia Morris highlighted a series of decisions by of a host of "courageous, creative and pragmatic" jurists that have helped cross-border restructuring evolve, in her keynote speech at GRR Live New York last week.