A Dutch subsidiary of Indian multinational conglomerate Jain Irrigation Systems has won permission to poll creditors on its English scheme of arrangement while the group seeks a connected restructuring in India.
Harneys has published a set of “schemarios” or scheme scenarios explaining where it believes parallel schemes of arrangement are necessary to give effect to a foreign restructuring, in the wake of court criticism over its advice in China Oil Gangran Energy last week.
German furniture manufacturer Münsterland Gruppe has successfully thrown out a breach of contract claim in New York after a US district court granted comity to its German insolvency proceedings.
One month after securing Chapter 15 recognition in New York, Brazilian miner Samarco Mineração has proposed a judicial reorganisation plan that could see unsecured creditors take an 85% haircut on their claims.
The Singapore Court of Appeal has set out two general rules to prevent directors and shareholders from using a company’s funds to pursue unmeritorious appeals against winding-up orders when the monies should …
The British Virgin Islands liquidators of a vehicle that invested in a Manhattan skyscraper have sought recognition in New York so they can investigate an allegedly “carefully crafted scheme” to dissipate the …
Cross-border recognition of schemes of arrangement is only available where legislated for, note Harneys Asia managing partner Ian Mann, global head of restructuring Chai Ridgers, and senior associate Katherine McMenamin: in the meantime, parallel schemes are the safest course to de-risking a restructuring.
Against the backdrop of the covid-19 pandemic and soon-to-be-rescinded government support schemes, local principal Emmanuel Chua and associate Shriram Jayakumar at Baker & McKenzie Wong & Leow in Singapore discuss three key trends to look for in the "new normal".
Updated: White & Case has hired Kirkland & Ellis partner Gregory Pesce in Chicago, who has credits on the liquidation of securities broker MF Global and industrial fishing conglomerate China Fishery’s bankruptcy.
London-based turnaround and restructuring firm Buchler Phillips has re-hired an insolvency specialist after a 25-year hiatus and appointed the former chairman of Tottenham Hotspur football club as a partner.
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Smoking hot: Canada Worked Out • Names to know in Canada • No guarantees: Tiger Resources Unpacked • Heads-Up: David Fleming at Duff & Phelps in Manchester • Using a scheme to unlock value for all creditors • Altair Asia • Legal liberalisation and the covid-19 pandemic • Abu Dhabi Global Ma...
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