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GRR Awards 2017 – first shortlist revealed

GRR Awards 2017 – first shortlist revealed

24 May 2017

With just under a month to go before the inaugural Global Restructuring Review awards ceremony in London, the shortlists of nominees for each category have been decided.

Court approves Maxus Chapter 11 plan despite trustee objection

Court approves Maxus Chapter 11 plan despite trustee objection

24 May 2017

A Delaware court has dismissed an objection from the US trustee of Argentine-owned oil and gas company Maxus Energy and four of its US affiliates and confirmed a Chapter 11 liquidation.

Hong Kong court criticises “failed” liquidators in property proceeds dispute

Hong Kong court criticises “failed” liquidators in property proceeds dispute

23 May 2017

A Hong Kong court has criticised liquidators from local outfit Vantage Advisory for failing to investigate competing claims over the proceeds of sale of a multi-million-dollar property – saying their “inaction” was particularly surprising given they had obtained a pre-emptive costs order to pay for the work.

Norwegian oil explorer seeks Chapter 15 protection for Bermudan scheme

Norwegian oil explorer seeks Chapter 15 protection for Bermudan scheme

23 May 2017

Norway-based oil driller Archer has sought Chapter 15 recognition in Texas of scheme proceedings pending before a Bermudan court.

Owner of world’s largest lead producer to fight involuntary Chapter 11 action

Owner of world’s largest lead producer to fight involuntary Chapter 11 action

22 May 2017

An group of lenders led by a Cayman hedge fund have filed an involuntary Chapter 11 petition against a holding company that owns the world’s largest lead producer, saying it “has not paid one cent” towards its €1.8 billion obligations.

Community roundup: New appointments at Pepper Hamilton, Gardere Wynne Sewell and CMS

Community roundup: New appointments at Pepper Hamilton, Gardere Wynne Sewell and CMS

22 May 2017

Pepper Hamilton, Gardere Wynne Sewell and CMS Cameron McKenna Nabarro have all witnessed lateral partner hires and promotions over the past few weeks, while consultancies announced changes at the top in England, Scotland and Canada.

Linklaters poaches special situations partner from Ropes & Gray

Linklaters poaches special situations partner from Ropes & Gray

22 May 2017

Linklaters’ London restructuring team has made its second senior hire in two months, with Ropes & Gray partner James Douglas set to join the firm.

White & Case, Bowmans advising Kenya Airways on capital restructuring

White & Case, Bowmans advising Kenya Airways on capital restructuring

19 May 2017

White & Case in London and Bowmans in Nairobi have been advising Kenya’s struggling flagship airline as it nears the completion of a capital restructuring.

AlixPartners’ Caribbean team forms new outfit - Kalo

AlixPartners’ Caribbean team forms new outfit - Kalo

19 May 2017

AlixPartners’ Caribbean restructuring team has relaunched as a new advisory firm in the British Virgin Islands and Cayman Islands.

Paragon Offshore files for administration in the UK to clinch Chapter 11 plan

Paragon Offshore files for administration in the UK to clinch Chapter 11 plan

19 May 2017

Oil drilling services company Paragon Offshore has filed an application for administration in the UK as a key step of towards completing its Chapter 11 plan in the US.

Speakers announced for Latin Lawyer-GRR Live restructuring summit

Speakers announced for Latin Lawyer-GRR Live restructuring summit

19 May 2017

The Latin Lawyer-GRR Live 2nd Annual Restructuring Summit taking place in New York next month will offer an analysis of cross-border restructuring developments in Latin America, from why practitioners in some countries are avoiding Chapter 15, to the impact of President Trump’s election.

Supreme Court throws out currency conversion claims in Lehman Waterfall I ruling

Supreme Court throws out currency conversion claims in Lehman Waterfall I ruling

18 May 2017

The UK’s highest court has denied additional payments to creditors with unsecured US dollar-denominated claims against Lehman Brothers’ European arm, who argued they would offset the fall in the pound between the date of the group’s administration and the date they were paid.