Bankruptcy

Speedcast Chapter 11 sale approved in Texas

Australian satellite communications group Speedcast has won a Texan court’s approval for a Chapter 11 sale plan after reaching a creditor settlement that allows it to potentially file for voluntary administration in Australia.

22 January 2021

French firm Franklin expands in Paris

A year on from the foundation of its restructuring practice under Numa Rengot, France’s Franklin has expanded in Paris with a hire from Deloitte’s French firm Taj.

21 January 2021

Community roundup: hires at Simmons, Dentons and Hunton Andrews Kurth, as Begbies Traynor acquisition launches it offshore

Simmons & Simmons, Dentons and Hunton Andrews Kurth have hired in London, Portland in Maine and Bangkok respectively; while Begbies Traynor has acquired insolvency advisory group CVR Global, adding its first overseas offices.

18 January 2021

Gleiss Lutz advising German retailer on self-administration

UPDATED: A German clothes retailer with international stores has filed preliminary insolvency proceedings, marking the first test of Germany’s newly strengthened self-administration rules.

15 January 2021

Hemp-related products company’s Chapter 11 dismissed in Colorado

A US producer of hemp-related CBD products has had its Chapter 11 case thrown out in Colorado, following government concerns about the status of its intellectual property licensing business under federal law.

14 January 2021

US community round-up: Armstrong Teasdale, Jones Walker and Sheppard Mullin make hires

Missouri-headquartered Armstrong Teasdale has announced plans to open an office in Delaware with a four-partner hire from Elliott Greenleaf, while Jones Walker has added a bankruptcy litigator in Atlanta and Sheppard Mullin has snapped up a debt finance partner from Hogan Lovells in Los Angeles.

08 January 2021

Chapter 15: Hertz seeks US recognition, as drain tech co secures stay

Car rental group Hertz has sought US recognition of an English scheme of arrangement with help from Richards Layton & Finger and White & Case; while the UK administrators of a drainage technology company have secured an emergency stay on US litigation.

07 January 2021

Singapore Mareva injunction upheld against Cayman holding company

A Singapore court has upheld a Mareva injunction issued against a Cayman holding company and its Canadian director, rejecting challenges to its jurisdiction over a foreign law dispute.

04 January 2021

Brazilian extension applications are “collective proceedings” under UK’s Model Law

A Brazilian judicial administrator who has been trying to extend a dairy company’s bankruptcy to two related entities for some years, has had those extension proceedings recognised as “collective proceedings” under the UK’s version of the UNCITRAL Model Law.

22 December 2020

Air Berlin fails to block English Etihad litigation on appeal

Air Berlin’s administrator must face an English challenge to his €2 billion German contract breach claim against Etihad Airways, after a London appeal court ruled that EU law allowed the dispute to be heard in England under an “asymmetric” jurisdiction clause.

18 December 2020

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