Bankruptcy exit/ discharge
Singapore regulator rebukes crypto hedge fund as liquidators appointed in BVI
Two Teneo senior directors have been appointed as the joint liquidators of cryptocurrency hedge fund Three Arrows Capital in the British Virgin Islands, while Singapore’s financial regulator has accused its manager of providing false information.
30 June 2022
Alto Maipo receives court approval of Chapter 11 plan
Chilean hydroelectric project operator Alto Maipo has had its Chapter 11 plan approved by a Delaware court, after the company modified language related to third party releases in response to an objection by the US trustee.
20 May 2022
Scotsman’s bankruptcy discharge allowed after five years of inaction in Gibraltar
Gibraltarian bankruptcy trustees from Begbies Traynor and PwC have failed to stop a Scottish former hedge fund manager’s automatic discharge, after a local court found they didn’t engage with the bankrupt during the relevant statutory period.
22 March 2022
Aeroméxico exits Chapter 11 bankruptcy
Mexican flag carrier airline Aeroméxico has successfully emerged from its Chapter 11 restructuring, almost two years after it first entered the process.
22 March 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
CWT completes cross-border pre-pack Ch11 in 18 hours
Travel management company CWT and 37 international affiliates have secured confirmation of a pre-packaged Chapter 11 plan within 18 hours of filing for bankruptcy, in what is believed to be the first speedy Chapter 11 with a cross-border element.
17 November 2021
New York’s Judge Drain announces retirement
Judge Robert Drain of the United States Bankruptcy Court for the Southern District of New York, who presided over the Purdue Pharma and Sears bankruptcies, is set to retire next year.
29 September 2021
Alvarez & Marsal appointed as UK energy market feels the heat
Alvarez & Marsal partners have been appointed administrators to two UK energy groups in 24 hours and the firm is understood to be in talks with other suppliers too, as the UK faces a string of bankruptcies in the retail energy sector.
24 September 2021
Alvarez & Marsal moves into Indonesia
Alvarez & Marsal has launched a new restructuring and turnaround practice in Jakarta, making its expansion into Indonesia with an appointment from financial services and leasing group ORIX Corporation.
21 September 2021
Maples taps insolvency partner for British Virgin Islands role
Maples and Calder has hired a new British Virgin Islands partner with experience advising on the cross-border restructurings of China’s Luckin Coffee and Brazilian oil group Constellation.
15 September 2021