Bankruptcy

Judges appointed in Quebec as Canadian group gets new president

Two restructuring lawyers have been appointed as judges in Quebec, as the Insolvency Institute of Canada revealed one of Thornton Grout Finnigan’s founders as its new president.

21 October 2020

White & Case hires from Sidley again

Two weeks after hiring the co-chairs of Sidley Austin’s global restructuring practice, White & Case has picked up another partner from the firm in Chicago.

16 October 2020

Baker McKenzie launches Polish restructuring practice

Baker McKenzie has brought in lawyers from Clifford Chance and local firm Wardyński & Partners to lead its new restructuring practice in Poland.

16 October 2020

Avianca, LATAM secure court approval for DIP financings

Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.

14 October 2020

Altair Asia: Cayman court declines to follow Hong Kong ruling

In a rare example of judicial comity being sidelined in a cross-border insolvency, the Cayman Islands Grand Court has declined to follow an earlier ruling of the High Court of Hong Kong. Harneys partner Jessica Williams and associate Mark Burrows examine the case of Altair Asia.

13 October 2020

Kirkland & Ellis promotes in US, Europe and Asia

Kirkland & Ellis has promoted 13 new restructuring and debt finance partners across the US and in Munich, London and Hong Kong.

02 October 2020

Second Circuit hands Madoff customers’ profits to trustee

A US appeals court has ordered certain customers who unwittingly gained from the Bernie Madoff Ponzi scheme to hand their profits to the scheme’s liquidating trustee, finding they are not protected by the US Bankruptcy Code.

28 September 2020

Cayman bankruptcy and freezing orders recognised in Canada

An Alberta court has recognised Cayman Islands personal bankruptcy and freezing orders, rejecting arguments that granting the relief would be “an abuse of Canadian procedures” despite noting there were limited precedents.

24 September 2020

NautaDutilh partner charged over alleged money laundering at bankrupt retailer

Belgian prosecutors have charged NautaDutilh partner Elke Janssens in connection with a money laundering investigation into bankrupt fashion chain FNG, which collapsed following allegations of market manipulation.

22 September 2020

New York court rejects LATAM DIP financing

A New York court has rejected a US$2.4 billion debtor-in-possession loan secured by Chile's LATAM from its shareholders, finding it had the effect of forcing an equity swap in a future restructuring.

15 September 2020

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