Carillion loses pre-action disclosure bid as KPMG negligence suit looms

The liquidator of collapsed British construction group Carillion has lost a bid to force its former auditors, KPMG, to disclose documents ahead of a planned £250 million negligence suit.

Keen-Summit Capital Partners adds former IWIRC chair as MD

Former IWIRC chair Jennifer Meyerowitz has joined the real estate restructuring advisory firm Keen-Summit Capital Partners as a managing director, from its Colorado sister company.

Hogan Lovells and Cleary help amend Ecuador’s US$19 billion debt load

Hogan Lovells has helped the Republic of Ecuador and its state-owned oil company Petroamazonas EP reach consent solicitations with creditors to delay debt and interest payments and change the terms and conditions of various series of securities worth a combined US$19 billion.

Charles Russell Speechlys retained in footwear retailer’s UK administration

Charles Russell Speechlys is advising administrators appointed over footwear retailer Aldo’s UK business following its North American arm’s entry into CCAA and Chapter 15 proceedings.
Ropes & Gray hires Kirkland partner in London

A Kirkland & Ellis restructuring partner with credits in the Lehman Brothers, Noble Group and Ocean Rig cases has moved to Ropes & Gray in London.
Hong Kong judge targets “unrealistic and unhelpful” Mainland business groups

A Hong Kong judge has criticised a Chinese cinema group that tried to restructure its debts in a “piecemeal” way in the Mainland without including its Hong Kong-listed holding company.

Features

Substantive consolidation in the upcoming Brazilian Bankruptcy Law reform

Partner Fabiana Solano and associate Thiago Dias Costa at Felsberg Advogados in Saõ Paulo discuss new rules on substantive consolidation of debtors’ assets in the draft bankruptcy bill pending before Brazil’s Congress. While the new rules offer a clear improvement to the current regime, the authors argue the terms under which they are proposed to apply may result in different interpretations and ongoing uncertainty.

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Community

Ashurst re-hires Weil Gotshal partner in Melbourne

London-based Weil Gotshal & Manges counsel Alinta Kemeny has moved back to her native Australia to re-join Ashurst in Melbourne.

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Data & Surveys

GRR 100 2019

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Conference Reports

ABLI/INSOL International: What can Singapore (and the rest of Asia) learn from Japan?

Lawyers from Japan and Singapore discussed how debtors are benefiting from new out-of-court and cross-border processes in their respective jurisdictions and predicted that these debtor-friendly tools will be put through their paces amid a covid-19 restructuring surge.

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