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

Features

Book Review: Commentary on the European Insolvency Regulation

Book Review: Commentary on the European Insolvency Regulation

11 May 2017

José Carles of Carles Cuesta Abogados in Spain praises a 2016 commentary on the European Insolvency Regulation edited by Reinhard Bork and Kristin van Zwieten – hailing the arrival of what will be a key text for practitioners in the coming years as the recast regulations are implemented.

Asset recovery column: Chapter 15 relief for parties not initially named as debtors

Asset recovery column: Chapter 15 relief for parties not initially named as debtors

02 May 2017

Ed Davis and Annette Escobar, founding member and partner at Sequor Law in Miami, present the methods available under US law, common law and in Brazil’s bankruptcy legislation to seek relief against parties not initially named as debtors in Chapter 15 proceedings.

Raising the buffers: how global banks are winning the race to end too-big-to-fail

Raising the buffers: how global banks are winning the race to end too-big-to-fail

28 April 2017

When GRR surveyed counsel to discuss how global banks could hope to keep pace with constantly changing regulations on capital buffers, it soon became clear that the banks’ own innovations aimed at raising loss-absorbing debt have outpaced the rate of reform.

Europe column: international jurisdiction for annex and related actions

Europe column: international jurisdiction for annex and related actions

27 April 2017

The recast European Insolvency Regulation will bring in new jurisdictional provisions for actions that either derive from, or are closely linked to, insolvency proceedings in the EU. Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, welcomes the changes and discusses how they can be further improved.

Pre-insolvency column: Spanish homologation proceedings – questions and (some still open) answers

Pre-insolvency column: Spanish homologation proceedings – questions and (some still open) answers

24 April 2017

Cuatrecasas partner Ignacio Buil in London and senior associate Carlos Ara in Barcelona office give an account of recent case law developing around the so-called “Spanish scheme of arrangement”, as part of a new pre-insolvency column produced in association with members of TMA Europe.

IWIRC's Woman of the year: Carlyn Taylor

IWIRC's Woman of the year: Carlyn Taylor

21 April 2017

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.

Marblegate: what does it mean for European restructurings?

Marblegate: what does it mean for European restructurings?

18 April 2017

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.

The fall and rise of the clawback claim under Cayman Islands law

The fall and rise of the clawback claim under Cayman Islands law

10 April 2017

Appleby partner Jeremy Walton, senior associate Jeremy Snead and associate Andrew Jackson discuss the future of voidable preference claims under Cayman Islands law and the implications for custodians, in light of a recent judgment from the Cayman Islands Court of Appeal.

Can Singapore’s new regime help tackle Asia’s looming wall of debt?

Can Singapore’s new regime help tackle Asia’s looming wall of debt?

04 April 2017

As a wall of debt comes due in the Asian bond markets, Singapore is making a timely play to become a regional and international restructuring hub. With the first steps – upgrades to the country's restructuring and insolvency laws – being implemented, Herbert Smith Freehills' Paul Apáthy and Emmanuel Chua take a closer look at the plan’s progress and what it could do to assist companies, creditors and investors.

Sovereign debt column: The Greek debt restructuring of 2012

20 March 2017

Athens was recently back in the headlines following a public disagreement between the Eurozone and the International Monetary Fund on future bailouts. In this edition of the sovereign debt column, Lee C Buchheit, a partner at Cleary Gottlieb Steen & Hamilton in New York, reflects back on Greece’s landmark 2012 debt restructuring, which he helped to craft.

Asset recovery column: Open issue - potential claims for fraudulent transfer and avoidance

Asset recovery column: Open issue - potential claims for fraudulent transfer and avoidance

10 March 2017

Ed Davis and Annette Escobar, founding member and partner at Astigarraga Davis in Miami, look at the limits to bringing fraudulent transfer and avoidance claims within Chapter 15 proceedings, as well as some of the loopholes to get around those limits.

International debt restructuring: can other jurisdictions compete with London and New York?

International debt restructuring: can other jurisdictions compete with London and New York?

01 March 2017

Legislative changes in Singapore and the EU, Brexit, and the increasing importance of jurisdictions servicing debt linked to China: could these developments shake up London and New York’s pre-eminent positions as hubs of cross-border insolvency and restructuring work? GRR invited 10 guests to find out.