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

High Court extends Nortel administrators’ terms, but not past Brexit

A UK court presiding over the insolvency proceedings of Nortel’s European, Middle East and Africa arms has extended the appointment of EY as administrators of the 19 companies to January 2019, but agreed that Brexit has made it imprudent to extend the term beyond the following March.

GRR Live, Hong Kong: Corporate rescue proposals due in 2018 to be influenced by Australian administration

Brazilian oil group secures Chapter 15 recognition

Germany’s Phoenix Solar files insolvency case in Munich after US customer demands payment

Canadian environmental company files second Chapter 11 petition amid fraud saga

Temporary shelters group sells US subsidiary after noteholders settlement

Temporary buildings provider Algeco Scotsman Global has sold a valuable North American subsidiary as part of efforts to restructure its debt obligations, days after reaching a settlement with senior unsecured noteholders who claimed in court that the sale breached indenture covenants and constituted a fraudulent conveyance.

Pre-insolvency column: Crisis management under Italy’s new Rordorf law

Partner Enrica Maria Ghia and associate Filippo Bosazzi of Studio Legale Ghia in Milan summarise the new Rordorf Law passed in Italy in October, in the latest edition of GRR’s pre-insolvency column in association with TMA Europe.

US Supreme Court declines appeal by alleged alter egos of bankrupt steel group

A group of Brazilian mining companies will be able to pursue enforcement of a US$48 million arbitral award against the alleged alter egos of a bankrupt Swiss steel group, after the US Supreme Court refused to consider an appeal.

Pre-insolvency column: Ruling on Abengoa’s homologation challenges - case law breaks through the Spanish statutory mist

Partner Ignacio Buil, senior associate Carlos Ara and associate Guillermo Ruiz Medrano at Cuatrecasas in London, take a magnifying glass to a recent Spanish court ruling that exempted some creditors of energy company Abengoa from the terms of its homologated restructuring plan, in our latest pre-insolvency column in association with TMA Europe.

VIDEO: GRR lifetime achievement award - Bruce Leonard 1944-2017

The late Bruce Leonard, founder of the International Insolvency Institute (III), received posthumous honours at GRR's Charity Awards on 21 June, in the form of a poignant film tribute recorded a few days earlier at a meeting of the very organisation he helped found.

GRR Live, Hong Kong: Corporate rescue proposals due in 2018 to be influenced by Australian administration

Hong Kong’s official receiver, Phyllis McKenna, explained to delegates at GRR Live that long-awaited corporate rescue proposals in the special administrative region won’t be a debtor-in-possession regime like the US, and more recently Singapore – but they are taking inspiration from Australia.