Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
The bankruptcy trustee of an Irish former billionaire and rugby star has sought US Chapter 15 recognition of his Bahamian insolvency proceedings to stop the reopening of a civil case brought by the bankrupt’s former personal nurse for unpaid debts.
Guernsey-based investment fund Juridica, which claimed to be the “first significant litigation funder”, is preparing to wind itself up following several disappointing litigation outcomes.
A New York judge has granted “urgently needed” interim relief to Brazilian oil and gas driller Serviços Petróleo de Constellation, to ward off creditors as it struggles to restructure a nearly US$1.5 billion in debt.
The trustee of a “nomadic” Russian bankrupt’s estate has failed to convince a US court to recognise Russian insolvency proceedings under Chapter 15.
Sidley Austin pharmaceuticals client Famar has completed a €174 million debt restructuring in Greece with support from a KKR bad loan management platform advised by Weil Gotshal & Manges.
Brazilian airline Avianca Brasil has secured a stay on lawsuits brought against it by aircraft lessors so it can continue to fly, after filing for bankruptcy protection in São Paulo.
Hong Kong’s Secretary for Justice Teresa Cheng SC has told GRR she is “determined” to resolve the gaps in the special administrative region’s legislative framework with a new package of measures.
Former DLA Piper partner Selinda Melnik, a founder of the International Women’s Insolvency and Restructuring Confederation and its first chair, as well as an active member of GRR’s editorial board, has passed away after a long illness.
Mr Justice Jonathan Harris, the judge in charge of Hong Kong’s company law and insolvency law cases, used his keynote at GRR Live to call for a mutual recognition protocol for insolvency orders between mainland Chinese courts and their Hong Kong counterparts, and to raise scepticism over the cross-border moratorium provisions in Singapore’s recent restructuring reforms – the subject of his recent decision in CW Technologies.
Takayuki Maruyama and Naoki Kondo
Low Poh Ling and Wilson Zhu