Oil company chairman bankrupt in Hong Kong over personal guarantee

The chairman of Chinese oil company Brightoil has been declared bankrupt in Hong Kong over a personal guarantee for the company’s Singaporean subsidiary.

US court recognises Imperial Tobacco Canada’s bankruptcy proceeding

A US bankruptcy court has granted Chapter 15 protection to British American Tobacco’s Canadian arm, which faces nearly US$6.7 billion in class action claims north of the border.

AHAB considers Chapter 11 filing after second Saudi restructuring bid rejected

Saudi conglomerate Ahmad Hamad Algosaibi & Brothers is exploring appeals and a possible Chapter 11 filing after a court rejected its second application to restructure under Saudi Arabia’s new insolvency law.

Cambridge Analytica placed into liquidation in England

Political consultancy firm Cambridge Analytica’s six UK companies have been placed into liquidation, with their joint administrators from Crowe UK appointed as liquidators over objections from a New York-based creditor.
Eight firms close Brazil’s largest retail restructuring

Brazil’s Thomaz Bastos, Waisberg, Kurzweil Advogados and Pinheiro Neto have helped retailer Máquina de Vendas close a deal to restructure its 3 billion reais (US$779 million) debt, in what is thought to be the country’s largest ever retail debt restructuring.
Online travel platform obtains Singapore’s first super priority order

A Singapore court has issued the first-ever super priority order under the city-state’s new Companies Act, in favour of a creditor of struggling online travel platform Asiatravel.com Holdings.

Features

GRR/INSOL Europe Roundtable: What will the post-Brexit insolvency landscape look like?

Is the UK set to become a “third state” when it leaves the EU? Will insolvency proceedings opened in the UK be recognised by member states? Can UK schemes of arrangement maintain their dominance in the market? And how will legislative changes shape the post-Brexit landscape? GRR invited nine distinguished guests to find out.

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Community

Potter Anderson expands bankruptcy practice in Delaware

Delaware firm Potter Anderson & Corroon has added three lawyers to its bankruptcy practice from Whiteford Taylor Preston in Wilmington.

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Data & Surveys

GRR 100 2018

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Conference Reports

GRR Live Singapore: How to turn a bad hand around

Last weekend saw a rare public demonstration in Singapore by retail bondholders who say they've been shut out of the restructuring process for water treatment company Hyflux. Amid news Hyflux’s proposed rescue plan has collapsed, delegates at GRR Live earlier this week shared ideas on how to turn a bad hand in a restructuring into a winning one.

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