Cambridge Analytica lawyers’ withdrawal postponed as liquidation reps appointed

Lawyers trying to exit the Chapter 7 bankruptcy of defunct political consultancy firm Cambridge Analytica because there’s nobody left to instruct them, have been told they need to wait until the court-appointed trustee selects a corporate representative to assist him with the controversial firm’s liquidation.

US$4.1 billion restructure draws nearer for Government Development Bank

Votes are being counted for what would mark the first consensual debt restructuring in Puerto Rico under the PROMESA Act, created in 2016 to rescue the island commonwealth from US$120 billion in debt and pension liabilities.

Asset recovery column: Tools in action

Edward Davis and Annette Escobar, of Sequor Law in Miami, discuss a massive Ponzi scheme in Chile involving the execution of asset recovery and cross-border recognition tools in multiple jurisdictions.

“Freefall”: A GRR Lehman special

A decade ago, on 15 September 2008, Lehman Brothers Holdings filed the biggest Chapter 11 filing in history, plunging the world into an economic vortex from which it has still not fully escaped. Douglas Thomson investigates the legacy that the collapsed bank left on cross-border insolvency law and what the next “Lehman” might look like.
UK government reveals “deeply concerning” cross-border insolvency guidance for no-deal Brexit

UK restructuring lawyers have warned of a “deleterious effect on creditor and debtor rights” after the British government issued its first bit of guidance on handling civil legal matters in the event of a “no deal” exit from the European Union.
Ukraine and Russia to have full English trial over disputed “tool of oppression” Eurobond

Russia and Ukraine, represented by Cleary Gottlieb and Quinn Emanuel, will play out a US$3 billion debt dispute in a full-blown English trial, the English Court of Appeal has ruled.

Features

Philosophers and streetfighters: Ukraine worked out

In the second of our Worked Out series, GRR looks at Ukraine, where an economic, military and political crisis has spurred a wealth of restructuring work. So far, much of that work has gone overseas – can Ukraine bring it back, and what do outside practitioners need to know when they get there? By Declan Bush

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Community

Hogan Lovells hires from GE Capital

Douglas Taber, formerly a senior in-house counsel at GE Capital, has joined Hogan Lovells’ business restructuring and insolvency practice in New York.

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Data & Surveys

Women in Restructuring

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Conference Reports

Corporate Restructuring Summit, Dubai: AHAB dispute will be “huge litmus test” for Saudi Arabia

The chief restructuring officer of Saudi conglomerate Ahmad Hamad Al-Gosaibi & Brothers (AHAB) says the group may use Saudi Arabia's new bankruptcy law to try and see an end to its decade-long restructuring saga, in what will be a “huge litmus test” for the Kingdom.

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