Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Features

Unpacked: How did they solve a problem like Mriya?

Unpacked: How did they solve a problem like Mriya?

17 May 2019

GRR looks back at the restructuring of Ukrainian farming conglomerate Mriya: how counsel got it across the line against a backdrop of more than US$1 billion in debt, expiring land leases, a former owner accused of embezzlement, a convoluted corporate structure spread across Ukraine and Cyprus, and – in its darkest hours – armed men in fields trying to seize assets by force.

Heads-up: Cyril Shroff at Cyril Amarchand Mangaldas in Mumbai

Heads-up: Cyril Shroff at Cyril Amarchand Mangaldas in Mumbai

01 May 2019

“There’s mountains of money sitting outside and there is a mountain of opportunity in India.” GRR meets Cyril Shroff of Cyril Amarchand Mangaldas, in the first of a new series of features profiling the heads of restructuring practices around the world and asking them for their industry forecasts.

IWIRC’s Asia Woman of the Year: Marie Rowbotham

IWIRC’s Asia Woman of the Year: Marie Rowbotham

26 April 2019

GRR interviews Marie Rowbotham, restructuring and insolvency director for PwC in Hong Kong, who was named the inaugural Asia Women of the Year by the International Women’s Insolvency and Restructuring Confederation at the end of last year.

GRR Live, Hong Kong: new questions for international insolvencies

GRR Live, Hong Kong: new questions for international insolvencies

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?

ABI, Washington DC: The challenges of pursuing assets abroad

ABI, Washington DC: The challenges of pursuing assets abroad

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.

India Column: Insolvency and Bankruptcy Code 2016 – evolution over the first two years

India Column: Insolvency and Bankruptcy Code 2016 – evolution over the first two years

15 April 2019

Pulkit Gupta and Rob Downey, directors at Ernst & Young India, talk through the evolution of the Indian Insolvency and Bankruptcy Code in its first two years and consider what to expect in the near future. They argue that, while the Code is not perfect, there has been a drastic improvement and it is the best possible law India could have hoped for in the circumstances.

GRR/INSOL Europe Roundtable: What will the post-Brexit insolvency landscape look like?

GRR/INSOL Europe Roundtable: What will the post-Brexit insolvency landscape look like?

02 April 2019

Is the UK set to become a “third state” when it leaves the EU? Will insolvency proceedings opened in the UK be recognised by member states? Can UK schemes of arrangement maintain their dominance in the market? And how will legislative changes shape the post-Brexit landscape? GRR invited nine distinguished guests to find out.

Asset recovery column: Recognition of an individual debtor’s insolvency proceeding – beware the perils

Asset recovery column: Recognition of an individual debtor’s insolvency proceeding – beware the perils

27 March 2019

Shareholders Edward Davis Jr and Leyza Blanco, and attorney Juan Mendoza from Sequor Law in Miami discuss the things to watch out for when seeking recognition of an individual debtor’s foreign insolvency proceedings in the US.

Divergent trends in COMI determination: Singapore’s position further drifts from European approach

Divergent trends in COMI determination: Singapore’s position further drifts from European approach

11 March 2019

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel to the European Commission, and Ilya Kokorin, researcher/lecturer at Leiden University, discuss the consequences of the High Court of Singapore’s Zetta Jet decision earlier this month, previously reported by GRR.

On and off the bench: an interview with Judge Shelley Chapman

On and off the bench: an interview with Judge Shelley Chapman

08 March 2019

Judge Shelley C Chapman, the New York bankruptcy judge who took the reins of Lehman five years ago, met GRR to talk about “too big to fail” financial institutions, US bankruptcy law, and her career on and off the bench.

Europe column: NK v BNP Paribas Fortis – Insolvency Regulation or Brussels I regulation?

Europe column: NK v BNP Paribas Fortis – Insolvency Regulation or Brussels I regulation?

11 February 2019

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel to the European Commission, and Gert-Jan Boon, researcher/lecturer at Leiden University, discuss the fallout from the 6 February decision of the Court of Justice of the EU that a Dutch so-called Peeters-Gatzen action falls within scope of the Brussels I Regulation.

Singapore’s restrictions on ipso facto clauses: what comes next?

Singapore’s restrictions on ipso facto clauses: what comes next?

01 February 2019

Singapore’s new restrictions on ipso facto clauses are welcome news to the local restructuring community, and a strong step towards establishing it as one of the region’s premier restructuring hubs. But how will these restrictions affect innocent counterparties and existing commercial contracts, ask partner Guan Feng Chen and associate Jonathan Tang at Morgan Lewis Stamford?