Bank recovery

Hong Kong billionaire declared bankrupt after landmark ruling

Hong Kong billionaire Pan Sutong has been declared bankrupt after a landmark court ruling analysed why multiple bankruptcy petitions are permissible against a single debtor in Hong Kong, capping off a three-year dispute with creditors.

13 July 2022

Clifford Chance and Teneo appointed in Sberbank special administration

Clifford Chance is representing special administrators from Teneo appointed over a UK investment banking arm of Russia’s Sberbank – the latest casualty of sanctions on Russian-state owned companies.

04 April 2022

EU reaches rescue decision on Russian Sberbank’s European arms

The European Union’s central bank resolution authority has declined to rescue the Austria-headquartered company that holds Sberbank’s European operations, while transferring its Croatian and Slovenian subsidiaries to local competitors.

03 March 2022

EU’s top court throws out Banco Popular bondholders' appeal

The European Court of Justice has dismissed appeals from two former Banco Popular bondholders, who queried the EU bank resolution authority’s decision not to order a final independent valuation of the Spanish lender before its resolution in 2017.

28 January 2022

Suspected Ponzi schemer’s bankruptcy recognised in New York

A New York bankruptcy court has recognised the Israeli insolvency proceedings of investment company EGFE Israel and its CEO – a “wanted” alleged fraudster who is suspected to be behind one of the largest Ponzi schemes in Israeli history.

03 November 2021

PJT Partners hires Anchorage’s former restructuring head in New York

Charles Tauber, the former head of restructuring at US hedge fund Anchorage Capital Group, is joining PJT Partners as a partner in September.

24 August 2021

“Persistent failure”: Paul Weiss report shows how Credit Suisse overlooked Archegos risks

Credit Suisse exercised a “persistent failure” to manage and remediate risks associated with Archegos Capital before its eventual collapse, according to an independent investigation conducted by Paul Weiss Rifkind Wharton & Garrison.

02 August 2021

BonelliErede helps rescue Italian Greensill casualty

Italy’s BonelliErede is advising Venice-based bank Ifis on its purchase of a local lender out of compulsory liquidation, after it collapsed under the weight of its exposures to Greensill’s German banking subsidiary.

28 May 2021

EU bailout fund to get greater powers over bank rescues

European finance ministers have agreed to a long-awaited reform of the EU’s bailout fund, giving it greater powers over future bailout programs and introducing single-limb collective action clauses to override holdout bondholders.

04 December 2020

ECB wins appeal over Banco Espírito disclosure

The European Central Bank gave sufficient reasons as to why it refused to disclose information on its suspension of credit flows to Portuguese “bad bank” Banco Espírito Santo ahead of the bank's resolution six years ago, the EU’s highest court has said, partially overturning a lower court’s ruling.

26 October 2020

Get unlimited access to all Global Restructuring Review content