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

Features

MILAN: New NPL law is a silver lining in the storm clouds

MILAN: New NPL law is a silver lining in the storm clouds

24 May 2016

The IBA Insolvency Section's 22nd annual global insolvency and restructuring conference opened with both figurative and literal storm clouds overhead, as speakers gave an update on the state of insolvency law and creditors' rights in Greece, to a backdrop of thunder. There was one silver lining on the horizon, however: a series of legal changes to liberalise the market for non-performing loans.

READING: Rise of global debt requires less regulation, more monitoring

READING: Rise of global debt requires less regulation, more monitoring

23 May 2016

The continuing rise of corporate, banking and sovereign debt around the world requires less regulation and more supervision, argued sovereign debt expert Professor Rodrigo Olivares-Caminal of Queen Mary, University of London, at a conference held by the University of Reading this week.

Nortel's Timeline

Nortel's Timeline

12 April 2016

Seven years of court proceedings and mediation: a timeline of Nortel's deathspan.

Nortel: Death is not the end

Nortel: Death is not the end

12 April 2016

In 2009, Canada’s Nortel Networks Corporation, the global telecoms and data-networking powerhouse that, at its height, accounted for more than a third of the total valuation of the companies in the Toronto Stock Exchange, filed for protection from its creditors in Canada, the US and the UK. Seven years on, without a penny paid to creditors and with very few of the parties willing to speak freely about the state of play, Richard Woolley looks back on the key events over the lifespan – or deathspan – of Nortel.

Nortel’s Dramatis Personae

11 April 2016

UPDATED: In his judgment of 12 May 2015, Judge Kevin Gross of the Delaware bankruptcy court wondered why the Nortel parties “all represented by the ablest of lawyers” were unable to reach a settlement in the case. While Gross’s question remains unanswered, a glance as the list of key legal players in the matter bears out his assessment of their talents.

The dark side of the Nortel decisions

The dark side of the Nortel decisions

11 April 2016

Bruce Leonard, senior counsel at Miller Thomson LLP in Toronto and a lawyer on the creditors' side, shares his personal views on “Nortel at seven”.

Restructuring on the rise for Venezuelan companies

Restructuring on the rise for Venezuelan companies

11 April 2016

Pedro Jimenez and Amanda Parra Criste of Jones Day in Miami look at the current dire straits of the Venezuelan economy, and suggest some ways out.

Europe column:
What language in EU cross-border cases?

Europe column: What language in EU cross-border cases?

11 April 2016

Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, sets out the care that needs to be taken when dealing in multiple languages in cross-border cases in the EU.

Atlas – ironing out a transparent Australian restructuring

Atlas – ironing out a transparent Australian restructuring

11 April 2016

As the iron ore industry faces difficulties from a dramatic drop in price, panellists in Singapore discussed the role of information gathering and transparency in the successful first stage of the turnaround of Australia’s Atlas Iron.

Investing in sovereign debt through arbitral awards

Investing in sovereign debt through arbitral awards

11 April 2016

Investment arbitration awards can create sovereign debt at one stroke, said Peter Griffin, founder of the consultancy Slaney Advisors, as he discussed what investors in distressed scenarios should look out for when considering opportunities to capitalise on arbitration in emerging markets.

Sovereign debt column:
Single vote cross-series collective action clauses – a “how to” guide

Sovereign debt column: Single vote cross-series collective action clauses – a “how to” guide

11 April 2016

In his second article for GRR, Andrew Shutter, a partner at Cleary Gottlieb Steen & Hamilton in London, looks at “single limb” cross-series collective action clauses: the stick of dynamite in the sovereign debt restructuring toolbox.

WIESBADEN: International insolvency legislation – separated by a common language?

WIESBADEN: International insolvency legislation – separated by a common language?

11 April 2016

Different implementing legislation for the UNCITRAL Model Law in the US and the UK has created two countries separated by a common language, speakers argued at a recent panel in Germany – as a former Cologne bankruptcy judge argued that Germany’s own international insolvency law is sufficient to get along without the Model Law.