German filmmaker’s estate files Florida Chapter 15

Funds in a Florida bank account belonging to the late German filmmaker and Federico Fellini collaborator Gideon Bachmann are at the centre of a new Chapter 15 application, two years after he died seemingly bankrupt in Germany.

Spanish court approves refinancing agreement for insolvent Isolux

Multinational construction group Isolux has secured approval of a refinancing agreement from a Spanish court, in an unusual decision outlining when homologation processes are open to companies already in insolvency proceedings.

Shareholders back Russian billionaire’s rescue plan for Spanish retailer

Uría Menéndez and Clifford Chance are advising the board of Spanish supermarket chain Distribuidora Internacional de Alimentación (Dia) in rescue talks, where shareholders have voted to back a plan put forward by Russian billionaire Mikhail Fridman.

Nine West exits Chapter 11 after settling Sycamore LBO dispute

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.
Maybank fails in interest claim over vessel transferred for free

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.
German wind turbine maker Senvion appoints London restructuring adviser

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.

Features

Divergent trends in COMI determination: Singapore’s position further drifts from European approach

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.

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Community

Gabriel Moss QC: a titan and a gentleman

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.

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Data & Surveys

GRR 100 2018

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Conference Reports

GRR Live, Offshore: Cooperation is key – Judge Carey on the state of modified universalism

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.

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