Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
Spanish renewable energy company Abengoa’s finances could face fresh scrutiny after a Seville court granted compulsory insolvency proceedings against one of its subsidiaries.
The Dallas office of K&L Gates has hired a new partner from Norton Rose Fulbright.
An Australian beef supplier has been given the go-ahead to begin proceedings to invalidate a deed of company arrangement over an Australian subsidiary of Chinese corporation Chinatex.
An English High Court judge has expanded on his reasons for sanctioning Asian commodity trader Noble Group’s scheme this week, noting that its centre of main interests shift from Hong Kong to the UK was just one of several factors giving him jurisdiction.
After two-and-a-half years of negotiations, the British government has published its draft agreement for the UK’s withdrawal from the European Union – but insolvency professionals have warned that a “poisonous” lack of legal certainty remains.
KPMG has created a new special situations group in the UK, bringing together members of its restructuring, debt advisory and performance improvement teams, in response, it says, to rising demand from clients for guidance through hard times over the past 18 months.
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses the theory of modified universalism as a way of governing cross-border insolvency, and whether this terminology is correct for the EU.
London-based Howard Kennedy has hired contentious insolvency and fraud litigation specialist Dominic Offord as a partner in its disputes group.
A Singaporean judge has questioned whether the doctrine of separate legal personality as an unshakeable principle should be re-examined when restructuring multinational corporate groups – and raised a “fascinating twist” to the concept of synthetic secondary proceedings as a way of managing cross-border insolvencies.
Takayuki Maruyama and Naoki Kondo
Low Poh Ling and Wilson Zhu