Bankruptcy

Pre-pack pioneer joins Teneo in New York

The former long-time chair of Skadden Arps Slate Meagher & Flom’s global restructuring group Jay Goffman has joined advisory firm Teneo in New York – two weeks after it acquired KPMG’s Cayman and BVI restructuring groups.

18 January 2022

Seadrill subsidiary completes pre-pack in 24 hours

Offshore rig operator Seadrill has come a step closer to completing its restructuring, after a group of its subsidiaries received court approval for a Chapter 11 pre-pack plan in just 24 hours, despite objections from the US trustee.

13 January 2022

Promotions round-up: new year, new partners

Jones Day, Norton Rose Fulbright, Hughes Hubbard & Reed and Harneys have made partner promotions around the world, while Davis Polk & Wardwell has named a new counsel and Cole Schotz has announced new members in North America.

11 January 2022

Purdue Pharma wins right to appeal bankruptcy plan rejection

Drug maker Purdue Pharma and its Sackler family owners have won the right to appeal a US district court ruling that threw out the company’s bankruptcy plan last month – while Judge Shelley Chapman has been asked to mediate negotiations to redraw the plan.

10 January 2022

Heads-Up: Joel Moss at Shearman & Sterling in New York

Featured in Heads-Up

Shearman & Sterling’s restructuring co-head Joel Moss speaks to GRR about changing sources of capital, a recent increase in creditor-on-creditor violence and a potential uptick in restructuring activity if central banks raise interest rates.

07 January 2022

New York’s Judge Chapman set to retire

Judge Shelley Chapman, who has presided over the Lehman Brothers bankruptcy since 2014, has announced plans to step down from the bench in New York.

15 December 2021

FTI Consulting marks first Dutch venture with Bold acquisition

US-headquartered advisory firm FTI Consulting has announced plans to enter the Dutch market with the acquisition of management consultancy Bold Capital Management.

15 December 2021

Bankrupt only has self to blame for Hong Kong COMI ruling, English court says

An English court has recognised a set of personal bankruptcy proceedings in Hong Kong under the Cross Border Insolvency Regulations, finding the contesting bankrupt had “only himself to blame” for a ruling that his centre of main interests wasn’t in the UK.

10 December 2021

Purdue Pharma judge seeks more info on bankruptcy abuse

A day after hearing an appeal of drug maker Purdue Pharma’s Chapter 11 plan, a US district judge has asked for more submissions on whether releases for the company’s former owners are “abusive” – noting the Sackler family increased the money they withdrew from the debtor in the decade before it filed for bankruptcy.

03 December 2021

Morgan Stanley executive director joins Alvarez & Marsal in London

Alvarez & Marsal has hired a new managing director in London with experience advising drilling services company Seadrill and South African retailer Edcon.

02 December 2021

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