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

Agrokor trustee resigns amid conflict questions

The restructuring manager of Agrokor, Croatia’s biggest company, has stepped down from his role after media reports of a possible conflict of interest.

Dana Gas told to pay BlackRock costs for English trial

CGG restructuring ends

Singapore court divides Berau noteholders ahead of creditors’ meeting

FTI recruits from EY in New York

Keith McGregor has joined FTI Consulting as a senior managing director in the firm’s New York corporate finance and restructuring segment.

Saudi Arabia to get its first bankruptcy law

Saudi Arabia's Council of Ministers has reportedly approved the kingdom's first bankruptcy law in a bid to draw business investment, according to Saudi counsel.

FTI adds Iain Graham from PwC

FTI Consulting has appointed financial adviser Iain Graham as a managing director of its London corporate finance and restructuring practice.

  • Second Circuit throws out Madoff feeder complaint

    A US appeal court has found that claims against Swiss and Luxembourgish banks accused of supporting two feeder funds into Bernard Madoff’s Ponzi scheme belong in US federal rather than state courts, but ultimately rejected jurisdiction of the claims on the merits.

  • Sea Trucks' liquidators sell ships to raise cash for cross-border recoveries

    The British Virgin Islands liquidators of ship operator Sea Trucks have nearly halved its debt by selling four vessels to a new UAE-headquartered company, allowing them to pursue the recovery of assets in Nigeria.

  • Guernsey scheme of arrangement gets court greenlight

    A court in Guernsey has approved a US-owned slot machine manufacturer’s purchase of a recently-refinanced sports wagering company via a scheme of arrangement, saying it fulfilled the sanction criteria set out last year in the Puma Brandenburg case.

BRRD: Challenges to Europe’s resolution ambitions

With the past year bringing new challenges to the EU’s Bank Resolution and Recovery Directive, GRR investigates why some bank restructurings appear to have followed the directive more closely than others – and what opposition to certain resolutions has demonstrated about the ability of European authorities to achieve their goals.

Steinhoff appoints former KPMG heavyweight to lead restructuring efforts

South African retail conglomerate Steinhoff has appointed former KPMG global restructuring head Richard Heis as chief restructuring officer as it attempts to stabilise following a potential accounting scandal.

ABI, New York: Jurisdictional dilemmas for Brazilian and US bankruptcy courts

Speakers at the ABI’s Cross-Border Insolvency Programme in New York discussed some recent jurisdictional dilemmas before Brazilian and US bankruptcy courts as regards the opening of proceedings for foreign-registered companies, the termination of contracts and third party releases.