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A Switzerland-headquartered automotive parts supplier that entered Chapter 11 in the midst of hostile litigation over asbestos liabilities inherited from its former US parent will now be restructured through a consensual plan designed by that parent, in a case described as “a great example of what Chapter 11 can accomplish, even for a company with its centre of gravity outside of the US”.
23 April 2021
The trustee of a compensation trust set up as part of Takata’s Chapter 11 plan has been allowed to serve an adversary proceeding on a Japanese insurance company’s US counsel, after a Delaware court found the costs of complying with the Hague Convention for service overseas would reduce funds available to victims of its faulty airbags.
25 February 2021
Interest claims brought by ING Bank against Santander in London belong in Madrid an English judge has ruled, in a case she described as “more complex” than previous ones pitting the EU’s Insolvency Regulation against the recast Brussels Regulation.
23 December 2020
A case of “corporate desperation, greed and dishonesty” is how the one-time partner of bankrupt satellite company Intelsat has framed alleged bad faith and breach of contract claims that it has been allowed to bring against the debtor in a two-week trial next June.
08 December 2020
A Delaware-registered arm of bankrupt Thai-owned upmarket grocer Dean & DeLuca has filed an adversary claim in New York against its former Japanese joint venture partner and an affiliate, arguing they took advantage of the grocer’s insolvency to buy shares at a steep discount.
04 December 2020
Luxury department store chain Neiman Marcus is suing its largest unsecured creditor, which the US trustee has accused of coercing a rival bidder into dropping its interest in a Chapter 11 asset acquisition.
28 August 2020
A former shareholder of oil services company Paragon, who failed repeatedly to challenge its Chapter 11 plan, has now failed to challenge its UK administration too.
22 July 2020
The owners of Singaporean shipping company Ocean Tankers have applied to the city-state’s High Court to remove Rajah & Tann as counsel to its interim judicial managers EY.
15 July 2020
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