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Ontario court rejects Nortel bondholder’s “interest stops” claim

06 November 2015

In a precedent-setting decision, a Canadian appeals court has ruled that unsecured bondholders in the defunct multinational telecoms operator Nortel will...

Kirkland & Ellis adds new partner in Hong Kong

Kirkland & Ellis adds new partner in Hong Kong

29 October 2015

Kelly Naphtali has left Lipman Karas to join Kirkland & Ellis as a partner in Hong Kong.

Insolvency litigator joins Corrs Chambers Westgarth as special counsel

Insolvency litigator joins Corrs Chambers Westgarth as special counsel

26 October 2015

Australian firm Corrs Chambers Westgarth has appointed Michelle Dean as special counsel in its Perth office.

Asian-focused gold miner files for bankruptcy in Canada

Asian-focused gold miner files for bankruptcy in Canada

26 October 2015

Canadian mining company Besra Gold has filed for protection under Canada’s Bankruptcy and Insolvency Act (BIA), as it seeks to restructure its gold mining operations in Vietnam and Malaysia.

ECB not liable for losses from Greek debt restructuring

ECB not liable for losses from Greek debt restructuring

23 October 2015

An EU court has dismissed claims by a group of bondholders against the European Central Bank over the Greek sovereign debt restructuring of 2012, ordering them to pay costs and ruling that their losses were a normal consequence of making an obviously risky investment.

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

21 October 2015

Insolvent Canadian payday loans company Cash Store has filed for chapter 15 protection in New York, winning a stay against a host of court proceedings on both sides of the border, including a federal securities lawsuit launched by a Japanese shareholder.

Italian fuel trader turns to US to stay Danish creditor suits

Italian fuel trader turns to US to stay Danish creditor suits

20 October 2015

An Italian fossil fuel trader has filed for bankruptcy protection in a Delaware court to safeguard it from US civil suits launched by Danish creditors.

Bankruptcy filings in four jurisdictions for Japanese shipper

Bankruptcy filings in four jurisdictions for Japanese shipper

16 October 2015

Japanese bulk shipping line Daiichi Chuo Kisen Kaisha has filed for bankruptcy protection in Tokyo, New York, Toronto and Sydney as it moves to restructure over $1 billion in debt.

Alabama bankruptcy judge joins Bailey & Glasser in DC

Alabama bankruptcy judge joins Bailey & Glasser in DC

15 October 2015

A US judge who presided over the 2011 municipal bankruptcy of Jefferson County, Alabama, has retired from the bench and joined law firm Bailey & Glasser as a partner in Washington, DC.

Channel Islands courts order cross-border asset pooling for shipping group

Channel Islands courts order cross-border asset pooling for shipping group

14 October 2015

Courts in Guernsey and Jersey have ordered an insolvent shipping group to pool the liquidated assets of two companies registered in different isles – the first time a successful cross-border pooling application has been brought in the Channel Islands.

Not so merry men: theme park directors ordered to pay for wrongful trading

Not so merry men: theme park directors ordered to pay for wrongful trading

07 October 2015

A UK court has issued a rare decision on wrongful trading under the Insolvency Act 1986, ordering two former directors of a Robin Hood-themed tourist attraction to pay compensation to its liquidators.

Paul Weiss ordered to reveal privileged information from investigation on behalf of bankrupt Chinese medical company

Paul Weiss ordered to reveal privileged information from investigation on behalf of bankrupt Chinese medical company

01 October 2015

A US court has demanded that Paul Weiss Rifkind Wharton & Garrison hand over privileged information from an internal investigation the law firm oversaw for China Medical Technologies (CMED) to the company’s liquidator.