Bankruptcy

Opioid maker Purdue submits US$10 billion Chapter 11 plan

A year and a half since it entered bankruptcy, Purdue Pharma has submitted a U$10 billion Chapter 11 plan before a New York court that it says will shift it from opioid drug marketer to a company owned by a public trust dedicated to addressing addiction.

16 March 2021

Mayer Brown adds partner from Proskauer in New York

Mayer Brown has continued its transatlantic hiring spree with the addition of partner Lucy Kweskin from Proskauer in New York.

11 March 2021

Canadian energy provider enters CCAA, files for US recognition

Months after completing a balance sheet restructuring, Canadian retail energy provider Just Energy Group has entered CCAA protection in Toronto and sought Chapter 15 recognition, blaming an “unforeseeable liquidity trap” caused by Texas’ unprecedented winter storm.

10 March 2021

McDermott strengthens practice in Atlanta

McDermott Will & Emery has hired former DLA Piper partner Daniel Simon for its restructuring and insolvency practice in Atlanta.

08 March 2021

California court reverses recognition of Australian judgment

An Australian woman’s US$1.2 million claim in a skin care manufacturer’s US bankruptcy has been thrown out after a California district court reversed the recognition of an Australian judgment.

05 March 2021

Ocean Tankers owners fail to remove Rajah & Tann

Rajah & Tann has successfully struck-down attempts by members of Singaporean billionaire Lim Oon Kuin’s family to have it removed as counsel to the judicial managers of  shipping company Ocean Tankers and oil trader Hin Leong.

25 February 2021

Sycamore-owned Belk seals record-breaking Ch11 plan

American department store chain Belk has secured the fastest ever confirmation of a pre-packaged Chapter 11 plan, with Kirkland & Ellis, Latham & Watkins, O’Melveny & Myers and Willkie Farr all taking instructions.

24 February 2021

Israeli trustee ineligible for assistance, BVI appeal court rules

A BVI appeal court has upheld the local recognition of an Israeli personal bankruptcy but found that the bankrupt’s Israeli officeholder cannot be granted assistance, a decision the court said it came to “with some regret”.

24 February 2021

Baker Botts hires in Houston

Texas-headquartered Baker Botts has strengthened its Houston team with the hire of a partner from Greenberg Traurig.

18 February 2021

Funder applies to wind-up Cayman client after Albanian bailiff seizes award

An Australian disputes funder has applied to wind up its Cayman oil company client after discovering that a US$12.6 million arbitral award it helped secure was sequestered by a bailiff in Albania.

15 February 2021

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