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

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European Academy of Law, Trier: The good, the bad and the COMI

European Academy of Law, Trier: The good, the bad and the COMI

27 June 2017

“But where is the debtor’s centre of main interests (COMI) really located?” At a recent event in Germany, a British barrister ran through the recast European Insolvency Regulation’s new provisions that codify established case law on good and bad forum shopping, and fill an erstwhile statutory silence.

Mountain Pass mine sold to Chinese-backed consortium

27 June 2017

A buyout group backed by a Chinese investment company is set to become the new owner of Molycorp Mineral’s rare earths mine in California, after submitting the winning bid at a contentious bankruptcy auction earlier this month.

Stroock & Stroock raids four firms in NY restructuring push

Stroock & Stroock raids four firms in NY restructuring push

27 June 2017

US firm Stroock & Stroock & Lavan has boosted its financial restructuring group with hires from Milbank Tweed Hadley & McCloy, Weil Gotshal & Manges,Morrison & Foerster and Haynes & Boone in New York.

Airbag maker Takata seeks protection in Delaware and Japan after massive recall

Airbag maker Takata seeks protection in Delaware and Japan after massive recall

26 June 2017

A Japanese company at the centre of the auto industry’s biggest-ever product recall has filed for bankruptcy protection in the US and Japan to give itself “a much needed breathing spell” while it finalises a US$1.6 billion sale to sponsor Key Safety Systems.

GRR lifetime achievement award – Bruce Leonard 1944-2017

GRR lifetime achievement award – Bruce Leonard 1944-2017

26 June 2017

The late Bruce Leonard, founder of the International Insolvency Institute (III), received posthumous honours at GRR’s Charity Awards on 21 June, in the form of a poignant film tribute recorded a few days earlier at a meeting of the very organisation he helped found.

Recast EU rules on cross-border insolvency enter into force

Recast EU rules on cross-border insolvency enter into force

26 June 2017

An updated form of the European Insolvency Regulation (EIR), the EU’s flagship legislation on cross-border insolvency, has become effective across the bloc, broadening the regulation to include pre-insolvency proceedings and addressing restructuring of corporate groups.

Odebrecht deals with US$4.5 billion debt in Brazil’s “largest ever” extrajudicial restructuring

Odebrecht deals with US$4.5 billion debt in Brazil’s “largest ever” extrajudicial restructuring

23 June 2017

An offshore oil drilling group owned by Brazilian conglomerate Odebrecht has entered into agreements with creditors to restructure its 15 billion reais (US$4.5 billion) debt pile, and has signalled its intention to file for Chapter 15 recognition once the agreements receive court sanction.

Delaware court upholds Lyondell on fraudulent transfers, will hear unjust enrichment claim against BMW

Delaware court upholds Lyondell on fraudulent transfers, will hear unjust enrichment claim against BMW

23 June 2017

A Delaware court has ruled that fraudulent transfer claims under the US Bankruptcy Code can stretch to payments made abroad, and has separately agreed to hear unjust enrichment claims against Germany's BMW in the collapse of a US hybrid car manufacturer.

GRR 30 in the limelight

GRR 30 in the limelight

22 June 2017

GRR’s first annual Charity Awards ceremony in London this week gave special honours to the 30 law firms that topped our GRR 100 research.

GRR Charity Awards 2017 – the winners

GRR Charity Awards 2017 – the winners

22 June 2017

More than 100 attendees enjoyed a glittering evening at GRR’s inaugural Charity Awards on 21 June, where the winners in nine individual categories – from most important recognition decision, to large law firm that impressed – were announced.

GRR Charity Awards 2017 – in pictures

GRR Charity Awards 2017 – in pictures

22 June 2017

GRR’s inaugural Charity Awards took place in the elegant Palm Court of the Waldorf Hilton in London on the evening of 21 June. We bring you a selection of the best photos from the ceremony and dinner.

The inaugural GRR 100 is here!

The inaugural GRR 100 is here!

21 June 2017

Following months of extensive research, Global Restructuring Review is pleased to unveil our inaugural GRR 100, an annual guide to approved law firms for cross-border restructuring and insolvency matters around the world - as well as the top ranked firms in our GRR 30.