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

Telecoms company HiTs Chapter 15

Cayman-based HiTs Africa, a holding company for various African telecom subsidiaries, has filed for Chapter 15 protection in New York so its liquidators can investigate US banks’ wire transfer records.

Fairfield Sentry wins BVI costs appeal in Madoff claim sale dispute

Lehman Brothers’ English scheme recognised in New York

UAE’s Abraaj enters provisional liquidation in the Cayman Islands

Oi's Brazilian plan gains recognition in US

ABI, Washington, DC: Why do foreign companies choose Chapter 11?

Many debtors around the world have sought protection under the wing of the US Bankruptcy Code’s Chapter 11, taking advantage of its expansive jurisdictional ambit. But is it right for everybody?

Lehman Brothers’ European arm secures “momentous” scheme sanction in UK

In what was described by lawyers as a “momentous day” in London, the High Court has sanctioned a scheme of arrangement proposed by the administrators of Lehman Brothers’ main trading arm in Europe, signalling the end of a decade’s worth of litigation.

GRR Live Offshore, Grand Cayman: Is Ocean Rig the Cayman cure-all, and other questions

With bold new precedents established in Ocean Rig, and planned restructuring law reforms on the horizon, Cayman practitioners considered how they square against the competition in the battle to win cross-border work, at the inaugural GRR Live Offshore.

  • GRR Live Offshore - in pictures

    GRR's first ever offshore event attracted important names from New York, London, Hong Kong, Singapore, Chile and of course, the host jurisdiction, the Cayman Islands. Click on the headline for photos from the day.

  • AHAB appeals in Saad dispute

    The Saudi conglomerate at the centre of “one of the largest Ponzi schemes in history” is appealing a Cayman Islands ruling that dismissed US$4 billion worth of fraud claims , accusing the Grand Court of reaching conclusions that “were not supported by evidence”.

  • Madoff trustee reaches settlement with feeder fund

    The trustee liquidating Bernard Madoff’s company has reached a US$280 million settlement with one of the scheme’s earliest investors, marking “another win” for the Ponzi-operator’s victims.

Singapore Worked Out

Singapore Worked Out

GRR profiles Singapore in the first of a new type of feature, assessing different jurisdictions around the world to see how amenable they are for cross-border insolvency and restructuring.

Former EY partner heads to Eight Advisory in London

Former EY partner Steve Taylor has joined consultancy firm Eight Advisory’s London office as head of UK valuations.

GRR – Latin Lawyer, New York: Calls for better DIP finance to help Brazilian restructurings

Brazilian restructuring lawyers have called for better debtor-in-possession (DIP) financing provisions and more ways to protect restructuring plans from challenges in Brazil, as US colleagues showed confidence they would get there.