Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events
12 July 2019
The GRR Live-Latin Lawyer 4th Annual Restructuring conference took place in New York on 11 July, focusing on Brazil, Mexico and Venezuela, as well as on oil company and airline insolvencies. Click on the headline to see pictures from the event!
11 July 2019
The “astonishing” diversity of Venezuela’s US$150 billion debt pile means its potential sovereign debt workout will be unlike any seen before, the opposition government’s adviser Lee Buchheit has said, as he raised scepticism about state oil company PDVSA entering Chapter 15 bankruptcy in the US.
02 July 2019
How have restructuring opportunities developed in China in the past few years; what challenges do practitioners face, and do the courts or the government have too big a role in bankruptcy proceedings? Speakers at GRR Live Hong Kong shared their experiences of working on the ground in China’s growing bankruptcy market.
18 June 2019
The International Insolvency Institute’s (III) first female president has taken the helm at a handover ceremony in a 14th century shipyard that today functions as Barcelona’s Maritime Museum.
16 May 2019
The UNCITRAL Model Law on Enterprise Group Insolvency will be ready for adoption in July, the commission’s secretary Anna Joubin-Bret has said.
25 April 2019
Hong Kong’s restructuring scene is one of the most cross-border in the world, with three quarters of its listed companies incorporated offshore and most restructurings having a mainland China connection. But the territory still lacks a statutory regime for cross-border recognition – as recently brought into focus in the restructuring of Singaporean engineering company CW Group. What does this mean for international insolvencies in the region?
23 April 2019
The General Data Protection Regulation (GDPR) has made it harder to get discovery in the EU, while it’s so easy in the US that some Latin American insolvency practitioners know about debtors’ foreign assets before the debtor even knows a foreign proceeding has been opened against them. Panellists from Florida, the Cayman Islands and Hong Kong recently discussed how to overcome the challenges of pursuing overseas assets.
04 April 2019
Milbank partners David Zemans and Jacqueline Chan chaired the second GRR Live in Singapore this week looking at some of the cases that have tested the city-state’s new restructuring regime so far, and examining the huge growth in activity in India.
04 April 2019
Last weekend saw a rare public demonstration in Singapore by retail bondholders who say they've been shut out of the restructuring process for water treatment company Hyflux. Amid news Hyflux’s proposed rescue plan has collapsed, delegates at GRR Live earlier this week shared ideas on how to turn a bad hand in a restructuring into a winning one.
14 March 2019
The Second Edition of GRR Live Offshore in the Cayman Islands closed against the backdrop of a setting Caribbean sun, after speakers and delegates had examined questions of modified universalism, comity and the determination of centre of main interests.
14 March 2019
Assessing the current state of modified universalism, Judge Kevin Carey from the Delaware bankruptcy court discussed how a new UNICTRAL Model Law could push the UK away from the territorialism of Rubin and Gibbs, and considered the potential impact on international comity of a recent US appeal court decision on extraterritorial avoidance.
26 February 2019
The EU’s new restructuring directive is based on UK schemes and Chapter 11, while planned reforms for a post-Brexit UK will borrow from Chapter 11, ostensibly to keep up with the EU. Speakers at GRR Live New York concluded that we are taking steps towards convergence, mostly as a result of the changing face of creditors.