Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
US clothes retailer Nine West Holdings has emerged from Chapter 11 bankruptcy, having cut its debt by US$1 billion and settled a creditor dispute with its private equity sponsor Sycamore Partners.
A Malaysian bank has failed to convince a Singaporean court that it had a superior security interest over a vessel transferred to a Saudi third party for free.
Hamburg wind turbine maker Senvion has hired a London-based restructuring adviser with credits on several cases that have seen centre of main interests and governing law shifts from Europe to the UK to help it seek a refinancing.
The SDNY bankruptcy court has approved a pre-packaged restructuring plan for Indonesian shipping company Arpeni’s Dutch note-issuing subsidiary, seven years on from the parent company’s first restructuring.
The judicial manager of Singapore-incorporated CNA Group has been refused a seventh request to extend a judicial management order originally issued in September 2015, after an agreement entered with Malaysian buyers fell through.
Offshore oil and gas services group Ezra Holdings has sued a bank creditor to claw back US$50 million paid out before its Chapter 11 filing, as it awaits judicial management in Singapore following its abandonment of a local scheme.
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel to the European Commission, and Ilya Kokorin, researcher/lecturer at Leiden University, discuss the consequences of the High Court of Singapore’s Zetta Jet decision earlier this month, previously reported by GRR.
Gabriel Moss QC, an internationally recognised barrister, scholar and part-time judge described as a “titan of the insolvency and restructuring world” by his chambers, died unexpectedly on 15 March.
Assessing the current state of modified universalism, Judge Kevin Carey from the Delaware bankruptcy court discussed how a new UNICTRAL Model Law could push the UK away from the territorialism of Rubin and Gibbs, and considered the potential impact on international comity of a recent US appeal court decision on extraterritorial avoidance.
Takayuki Maruyama and Naoki Kondo
Low Poh Ling and Wilson Zhu