The High Court of Justice in London has ruled on the distribution of over US$10 billion in subordinated liabilities of two UK Lehman Brothers entities, reaching different conclusions on their priority rankings.
LATAM Airlines Brasil has joined in the New York Chapter 11 proceedings of its South American parent, as the group secured recognition of its US bankruptcy in Chile and Colombia.
The UK’s audit and accountancy regulator, the Financial Reporting Council, has set out its principles for the operational separation of the Big Four’s audit practices.
Australia’s largest swimwear retailer Seafolly, which is backed by French fashion conglomerate LVMH Moët Hennessy Louis Vuitton, has filed for voluntary administration in Sydney, with Norton Rose Fulbright and Ashurst advising.
Weil and Richards Layton & Finger are advising one of the oldest US apparel retailers, which has sought bankruptcy protection as it plots to sell its assets and drop “burdensome” leases.
Canadian specialty tea retailer DAVIDsTEA has been granted court protection in Canada and applied for Chapter 15 recognition, as it restructures its business model from shops to online.
Supriyo Ranjan Mahapatra, an associate with the disputes practice at Trilegal in New Delhi, provides a brief overview of the Indian approach towards group insolvencies so far - including key trends ranging from the balancing test applied to the consolidation of assets, to cross-border concerns.
Hong Kong-based Harneys consultant Lorinda Peasland and its head of restructuring in Asia, Chai Ridgers, set out their case for a formal restructuring regime in Hong Kong. With corporates facing “unprecedented pressure” at the moment, they say the lack of a formal regime could push otherwise viable businesses into liquidation.
Daniel Wikel, the co-founder of global management consulting firm Huron Consulting Group, has joined FTI Consulting in Chicago.
European private equity and special situations investor Sandton Capital Partners has recruited former EY restructuring executive Jordan Kay in London and ex-THM Partners senior associate Emmanuel Atlan in Paris.
Global Restructuring Review is the only news and analysis service with a laser focus on cross-border restructuring.
Get unlimited access to all Global Restructuring Review content
Brazil Worked Out • Noble Group • Debra Dandeneau • INSOL Insights • Ireland Worked Out • Ian Mann andChai Ridgers • China Agrotech • Europe column • Asset recovery column • GRR Live New York • ABI: Paris & New York
Get unlimited access to all Global Restructuring Review content
