Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
South Africa’s struggling state-owned airline South African Airways (SAA) has entered business rescue proceedings under a US$1.3 billion debt burden.
The High Court of Singapore has recognised the Chapter 11 bankruptcy of an American toy drone maker, despite raising “serious concerns” about the fitness to serve of its foreign representative, who is himself subject to Chapter 7 proceedings in Texas.
The liquidation trustee of collapsed Ponzi scheme The Woodbridge Group has sued Sidley Austin and nine other firms for allegedly helping the company defraud investors.
The Court of Justice of the European Union has blocked an English-court appointed trustee from seeking a French court order invalidating the sale of an apartment complex, finding the claim belongs in England.
US firm Drinker Biddle & Reath has recruited a new restructuring partner in New York.
The UK Supreme Court has ruled that the off-market sale of an insolvent Scottish logistics company’s place of business was not justified on the ground of urgency.
“While India seems ripe with a lot of opportunity, there’s also a feeling that China is primed for a wave of restructurings": The co-head of Ropes & Gray’s restructuring practice Stephen Moeller-Sally talks to GRR about the professionalisation of distressed investing, the challenge of managing tensions in creditor groups, and why he believes foreign funds are going to be more active in US restructurings.
US firm Weil Gotshal & Manges has elected four new partners to its business finance and restructuring practice in New York and London.
The UNCITRAL model law on recognition of insolvency-related judgments could “fix” the impact caused by the decisions in Rubin and Gibbs if enacted in the UK, panellists at the ABI’s international conference in Paris have said.