Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Conference reports

The III arrives in Asia

The III arrives in Asia

15 August 2016

Increasing creditor participation in typically debtor-friendly Japan; new out-of-court workout rule rules in China and Korea; and Singapore’s recently announced ambition to become an international debt restructuring hub were all topics of discussion when the International Insolvency Institute (III) hosted its first-ever conference in Asia in June.

BRUSSELS: protecting the wealth of Europe

BRUSSELS: protecting the wealth of Europe

13 July 2016

The development of pre-insolvency mechanisms alongside formal tools such as schemes of arrangement has been a valuable response to complex financial issues and should be borne in mind by regulators attempting to harmonise regimes, speakers said at a conference in Brussels on 16 to 17 June.

NEW YORK: Brazil’s bankruptcy law must evolve as restructuring cases skyrocket

NEW YORK: Brazil’s bankruptcy law must evolve as restructuring cases skyrocket

05 July 2016

Legal uncertainty, corruption investigations and an undiversified financial system continue to affect clients’ confidence in Brazil’s 10-year-old bankruptcy laws, but a growing body of jurisprudence is gradually ironing out some of the kinks in the restructuring process, agreed lawyers at the Latin Lawyer - GRR Restructuring Summit in New York last month.

LONDON: Lawyers warn of proposed new US intercompany debt rules

LONDON: Lawyers warn of proposed new US intercompany debt rules

27 June 2016

Newly proposed intercompany debt regulations in the US could result in many debt instruments between related parties being characterised as equity, lawyers warned at a recent seminar, as they explored the impact of the potential changes on cross-border transactions.

Top São Paulo judge urges less procedural approach to restructuring

Top São Paulo judge urges less procedural approach to restructuring

23 June 2016

Daniel Carnio Costa, a bankruptcy judge at the First Bankruptcy Court of Brazil in São Paulo, called on his colleagues to ensure the social and economic benefits of corporate restructuring take precedence over the interests of the creditors and debtors, in a keynote speech at the Latin Lawyer - GRR Restructuring Summit earlier this month.

NEW YORK: Potential PDVSA default could resemble Argentina’s protracted holdout battle

NEW YORK: Potential PDVSA default could resemble Argentina’s protracted holdout battle

20 June 2016

Panellists speaking at the first Latin Lawyer - GRR Restructuring Summit held in New York earlier this month were split over whether Venezuelan state-owned oil company PDVSA is on track for an imminent default: but there was broad agreement that the legal aftermath will share many similarities with Argentina’s highly litigious 15-year sovereign debt battle.

NEW YORK: Distressed M&A deals in Latin America need cleaner strategies to soothe creditors

NEW YORK: Distressed M&A deals in Latin America need cleaner strategies to soothe creditors

16 June 2016

Lawyers representing debtors in distressed M&A deals in Latin America need to provide clearer communication strategies and valuation plans to avoid troubling creditors, guests at the first Latin Lawyer – GRR Restructuring Summit in New York heard last Monday.

READING: Comparing bank resolution regimes in the US & Europe

READING: Comparing bank resolution regimes in the US & Europe

15 June 2016

The traditional dichotomy between banking resolution and corporate resolution is obsolete, said speakers at a conference at the University of Reading, as they considered the practical, political and legal challenges that have distorted the development of a new regulatory landscape for financial institutions post-2008.

NEW YORK: DIP financing has broken ground in Latin America but remains “dysfunctional”

NEW YORK: DIP financing has broken ground in Latin America but remains “dysfunctional”

10 June 2016

A number of recent high-profile cross-border restructurings have brought changes to the way Latin American lawyers approach debtor-in-possession financing, but applicable laws remain “dysfunctional” according to a panel at Latin Lawyer – GRR Restructuring Summit in New York last Monday.

LONDON: On discovery and asset recovery

LONDON: On discovery and asset recovery

07 June 2016

Freezing injunctions and the extraterritorial application of the UK Insolvency Act’s section 236 were the focus of an evening seminar hosted by 9 Stone Buildings chambers in London last month, which looked at cross-border discovery and asset recovery in insolvency proceedings before the UK courts.

WASHINGTON, DC: Trends in US cross-border cases, Chapter 15, UNCITRAL and the EIR

WASHINGTON, DC: Trends in US cross-border cases, Chapter 15, UNCITRAL and the EIR

07 June 2016

A recent panel in the US grappled with the fate of Chapter 11 and Chapter 15 cases involving non-US entities, in the wake of the dismissal of Bahamian resort Baha Mar’s Chapter 11 filing in Delaware.

PRAGUE: Cleaning up non-performing loans in the CEE region

PRAGUE: Cleaning up non-performing loans in the CEE region

07 June 2016

Banks in central and eastern Europe looking to restructure or dispose of non-performing loans can help attract investors by providing high-quality data, adhering to international sales standards and trying to anticipate problems before they arise, panellists noted in Prague in March. Ultimately, though, the main driver of investment is a favourable legal environment and an experienced local servicing industry.