Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Singaporean commodity trader placed under interim judicial management

The Singapore High Court has placed commodity trader Agritrade International under interim judicial management after fraud allegations from a group of banks scuppered its application for a moratorium.

Former OW Bunker trustee joins Copenhagen boutique

Plesner partner Pernille Bigaard, the former trustee in bankruptcy of shipping fuel supplier OW Bunker, has left the firm to join restructuring boutique Sundgaard.

Spanish building materials company files for bankruptcy amid asbestos claims

Spain’s largest cement and asbestos company has filed for voluntary insolvency after litigation by former workers and residents near the company’s factory impeded its ability to secure liquidity.

“The epitome of a cross-border restructuring”: Noble Unpacked

“The epitome of a cross-border restructuring”: Noble Unpacked

A Bermuda-incorporated company, listed in Singapore, with a centre of main interest (COMI) in Hong Kong and operations across the world, commodities trader Noble Group was always going to be challenging to reorganise. In the latest in GRR’s Unpacked series, the practitioners tasked with solving this US$3.5 billion puzzle discuss how disgruntled shareholders, regulatory interventions and a disgruntled ex-employee’s blog made Noble’s restructuring one for the ages.

Heads-Up: Ian Mann and Chai Ridgers at Harneys in Hong Kong

Heads-Up: Ian Mann and Chai Ridgers at Harneys in Hong Kong

“If you can use your ingenuity to identify how stakeholders will benefit from the restructuring, you will get past the lack of a legal framework.” Offshore firm Harneys’ Asia managing partner Ian Mann and head of restructuring in Asia Chai Ridgers speak to GRR about China Agrotech, commodities and restructuring without a cross-border framework in Asia.

Dechert hires second partner from Shearman in London

Dechert has hired Shearman & Sterling partner Alastair Goldrein in its London office, following its hire of Solomon Noh from the same firm earlier this month.

ABI International, Paris: “Why can’t we all just get along?”

ABI International, Paris: “Why can’t we all just get along?”

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.