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

Features

Pre-insolvency column: Crisis management under Italy’s new Rordorf law

Pre-insolvency column: Crisis management under Italy’s new Rordorf law

13 December 2017

Partner Enrica Maria Ghia and associate Filippo Bosazzi of Studio Legale Ghia in Milan summarise the new Rordorf Law passed in Italy in October, in the latest edition of GRR’s pre-insolvency column in association with TMA Europe.

Europe column: Crossing insolvency swords between India and the Netherlands

Europe column: Crossing insolvency swords between India and the Netherlands

07 December 2017

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, laments the “unpredictable” regime in the Netherlands for parties from outside the EU – an issue evidenced by a recent case between Dutch and Indian companies.

GRR Live, Hong Kong: Scheme jurisdiction in a multi-jurisdictional context

GRR Live, Hong Kong: Scheme jurisdiction in a multi-jurisdictional context

22 November 2017

The Gibbs rule - that a contractual debt can only be compromised under the law governing it - has received a fair amount of negative press since a Singapore court declined to apply it in Pacific Andes last year. But in his keynote at GRR Live Hong Kong last month, Companies Court judge Jonathan Harris said the rule had been helpful locally in providing a “sufficient connection” for the sanctioning of schemes relating to foreign companies.

Pre-insolvency column: Ruling on Abengoa’s homologation challenges - case law breaks through the Spanish statutory mist

Pre-insolvency column: Ruling on Abengoa’s homologation challenges - case law breaks through the Spanish statutory mist

17 November 2017

Partner Ignacio Buil, senior associate Carlos Ara and associate Guillermo Ruiz Medrano at Cuatrecasas in London, take a magnifying glass to a recent Spanish court ruling that exempted some creditors of energy company Abengoa from the terms of its homologated restructuring plan, in our latest pre-insolvency column in association with TMA Europe.

Sovereign debt column: Venezuela’s restructuring - a realistic framework

Sovereign debt column: Venezuela’s restructuring - a realistic framework

10 November 2017

Amid news that Venezuela has called foreign creditors to a meeting in Caracas on 13 November, Mark Walker, head of sovereign advisory at Millstein & Co, and senior restructuring partner Richard Cooper of Cleary Gottlieb Steen & Hamilton offer an in-depth analysis of the current situation in the state, and put forward the case for restructuring.

Australia’s insolvency law reform bonanza – an update from Down Under

Australia’s insolvency law reform bonanza – an update from Down Under

30 October 2017

Partner Paul Apáthy, senior associate Rowena White and Katherine Mackellar at Herbert Smith Freehills in Sydney discuss a trio of forthcoming Australian restructuring and insolvency law reforms, including new safe harbour protections for directors; restrictions on ipso facto clauses; and a crackdown on “phoenixing” – the transfer of assets from a near-insolvent company to avoid paying creditors.

Hong Kong bank resolution update – three months post FIRO

Hong Kong bank resolution update – three months post FIRO

24 October 2017

Etelka Bogardi, a partner in the financial services regulatory group at Norton Rose Fulbright in Hong Kong, looks at the region’s new bank resolution framework that came into effect in July, and assesses what it has meant in practice for distressed financial institutions in its first three months.

Europe column: Public policy – a tight exception

Europe column: Public policy – a tight exception

23 October 2017

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, explains the meaning of the public policy exception to automatic recognition of foreign insolvency judgments under the European Insolvency Regulation.

Vienna: What UNCITRAL did next

Vienna: What UNCITRAL did next

17 October 2017

Ten international insolvency brains came together at the United Nations building in Vienna to argue their case for what UNCITRAL’s Working Group V should pick up next: from a model law on sovereign debt restructuring, to an UNCITRAL-sponsored “law to die by”.

Hong Kong Companies Court Judge Jonathan Harris talks provisional liquidation, recognition – and Tai Chi

Hong Kong Companies Court Judge Jonathan Harris talks provisional liquidation, recognition – and Tai Chi

16 October 2017

Justice Jonathan Harris of the Hong Kong High Court met GRR in August to discuss some of his recent landmark decisions, particularly Z-Obee and Rennie Produce in which he assisted foreign liquidators.

GRR 100 data: Where is the work coming from?

GRR 100 data: Where is the work coming from?

13 October 2017

New restructuring legislation and the involvement of new types of lenders and advisers earlier in the restructuring process have opened different work opportunities for law firms than were available a decade ago. GRR has analysed data collected during our GRR 100 research to show where restructuring and insolvency departments have been getting their work from in recent years and how this differs from the origins of instructions in the past.

GRR meets Delaware Bankruptcy Judge Kevin Carey

GRR meets Delaware Bankruptcy Judge Kevin Carey

29 September 2017

GRR met Judge Kevin Carey of the US Bankruptcy Court for the District of Delaware at the Association of Insolvency and Restructuring Advisors’ 33rd annual conference and in Dallas, where he talked about how his legacy won’t be a series of written decisions, but the time and skill he expended focusing on bankruptcy cases in the court room – and the insolvency world outside of it.