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

Features

Europe column: Insolvency registers

Europe column: Insolvency registers

27 February 2017

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses new European rules on insolvency registration.

Dee Valley: Limits on a dissenting minority blocking a scheme of arrangement

Dee Valley: Limits on a dissenting minority blocking a scheme of arrangement

20 February 2017

Partners Rebecca Jarvis, Nick Le Masurier and Jo Windsor of Linklaters in London consider a recent landmark court ruling that poured cold water on the use of share or debt splitting strategies to block an English scheme of arrangement - and ask whether the time may have come to revisit the majority in number test in UK schemes.

Rough waters: why Hanjin’s rehabilitation process sank

Rough waters: why Hanjin’s rehabilitation process sank

17 February 2017

Hanjin Shipping Co, once the largest container transport company in Korea and a major player in the global supply chain, was officially declared bankrupt on 17 February, closing a difficult court-managed rehabilitation process that saw ships seized in international ports, while other vessels, crew and cargo were stranded offshore. GRR looks back on the six-month proceedings, and talks to maritime and insolvency lawyers on why speed and preparation are of the essence in getting courts to cooperate across borders, control disputes and protect a company’s assets.

India's Insolvency and Bankruptcy Code 2016: a paradigm shift

India's Insolvency and Bankruptcy Code 2016: a paradigm shift

17 February 2017

Pulkit Gupta, director at Ernst & Young in Delhi, talks through the new Indian Insolvency and Bankruptcy Code, arguing that while it is not perfect, it’s the best law India could have hoped for in the current circumstances.

Is the common law Gibbs rule outdated?

03 February 2017

It was in the context of a Chinese fishery group’s collapse that the Singapore High Court called last September for the “reformulation” of the century-old common law Gibbs rule, arguing that it was outdated. Is the 1890 rule, that a discharge or compromise of debt can only be effective when done in accordance with its governing law, past its use by date? GRR investigates.

Sovereign debt column: side stepping the pari passu injunction

Sovereign debt column: side stepping the pari passu injunction

20 January 2017

Andrew Shutter, partner at Cleary Gottlieb Steen & Hamilton in London, considers the future of sovereign debt restructuring in the face of pari passu injunctions – that is, court orders preventing certain creditors from receiving payments if other creditors have not been paid in full.

Asset recovery column: Challenges in cross-border relief and asset recovery as to individuals and holding companies

Asset recovery column: Challenges in cross-border relief and asset recovery as to individuals and holding companies

12 January 2017

Ed Davis and Annette Escobar, founding member and partner at Astigarraga Davis in Miami, discuss some of the challenges in obtaining cross-border relief and asset recovery against individuals and holding companies in Chapter 15 recognition before the US courts.

Singapore’s 3rd Regional Insolvency Conference

Singapore’s 3rd Regional Insolvency Conference

21 December 2016

Look Chan Ho, head of restructuring and insolvency in Asia for Freshfields Bruckhaus Deringer, participated in a panel in September that considered Singapore as an international centre for debt restructuring – and included a timely discussion on the relevance of the hundred-year-old common law Gibbs rule. Here, he discusses developments inside and outside the conference room.

BERLIN: the “new normal” breeds opportunity for NPL restructuring

BERLIN: the “new normal” breeds opportunity for NPL restructuring

19 December 2016

As Europe’s over-leveraged banks scramble to clean up their balance sheets in line with enhanced banking regulation, opportunities abound for non-performing loan (NPL) investors and workout experts, according to speakers at the latest NPL Connect in Berlin.

Europe column: If you’re the IP, I’m the Pifor

Europe column: If you’re the IP, I’m the Pifor

19 December 2016

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses new and proposed European rules for insolvency practitioners and new kid on the block “practioners in the field of restructuring”.

AMSTERDAM: Brexit beauty contest – who will wear the crown?

AMSTERDAM: Brexit beauty contest – who will wear the crown?

09 December 2016

A “Brexit beauty contest” at this year’s 12th Annual ABI International Insolvency & Restructuring Symposium in Amsterdam sized up various European cities as possible contenders for London’s European restructuring hub crown.

Scheming in Hong Kong: court hands down Winsway and Kaisa decisions

Scheming in Hong Kong: court hands down Winsway and Kaisa decisions

25 November 2016

Partner Sue Moore, senior associate James Watson and associate Eloise Fardon of Stephenson Harwood consider two notable decisions of the Hong Kong court handed down during the last week; the first in the matter of Winsway Enterprises Holdings and the second in the matter of Kaisa Group Holdings.