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

Features

Daniel Glosband: An architect of Chapter 15

Daniel Glosband: An architect of Chapter 15

07 June 2016

GRR sat down with Daniel Glosband, one of the primary draftsmen of the US Bankruptcy Code’s Chapter 15, at the ABI’s 34th annual spring meeting in Washington, DC, to discuss recently-proposed amendments to the Chapter, as well as some significant cross-border recognition decisions of the past year.

PRAGUE: Cleaning up non-performing loans in the CEE region

PRAGUE: Cleaning up non-performing loans in the CEE region

07 June 2016

Banks in central and eastern Europe looking to restructure or dispose of non-performing loans can help attract investors by providing high-quality data, adhering to international sales standards and trying to anticipate problems before they arise, panellists noted in Prague in March. Ultimately, though, the main driver of investment is a favourable legal environment and an experienced local servicing industry.

Anticipated legislative reforms in the Middle East

Anticipated legislative reforms in the Middle East

07 June 2016

Clifford Chance partner Adrian Cohen and senior associate Melissa Coakley offer an overview of the push for insolvency and restructuring reform in the Middle East

Many ways of standing still

Many ways of standing still

07 June 2016

Nick Lister, a senior associate at Allen & Overy in London, discusses how the Ukrainian steel and mining business Metinvest imposed a moratorium on noteholder action through an English scheme of arrangement – and ponders some of the jurisdictional issues that could face other scheme users in future.

Europe column: OHADA and the EU

Europe column: OHADA and the EU

07 June 2016

Bob Wessels, professor emeritus of international insolvency law at the University of Leiden, discusses the recent adoption by 17 African countries of a harmonised insolvency framework based on the UNCITRAL Model Law, and compares it to the EU’s current policy of “creeping” convergence.

Sovereign debt: the natural order of things

Sovereign debt: the natural order of things

07 June 2016

Trying not to upset the natural order of things is an approach that applies well to the world of sovereign debt restructuring. In his third column for GRR, partner Andrew Shutter at Cleary Gottlieb Steen & Hamilton in London, discusses what “the natural order of things” means in respect of who gets paid first in a sovereign restructuring situation.

How momentum shifted between Argentina and the holdouts

07 June 2016

GRR presents a timeline of events in the long and bitter fight - then prompt settlement - that characterised the relationship between Argentina and its holdouts.

GRR’s Brexit poll

GRR’s Brexit poll

07 June 2016

On 23 June, voters across the UK will go to the polls to decide the country’s future relationship with the European Union – should Britain remain a member state, subject to EU law and unrestricted in its access to the single market? Or should it “Brexit”, negotiate new trading relationships and enact standalone laws?

NEW YORK: Distressed companies must communicate bad news, say panellists

NEW YORK: Distressed companies must communicate bad news, say panellists

07 June 2016

Latin American companies facing insolvency amid turmoil in the commodities market and currency devaluations should be prepared to be transparent with creditors, take prompt action and release equity to ensure an efficient restructuring, heard attendees at the first Latin Lawyer - GRR Restructuring Summit, held in New York on Monday.

TOKYO: III celebrates a day of firsts

TOKYO: III celebrates a day of firsts

06 June 2016

At its first conference in Asia this week, the International Insolvency Institute (III) presented its inaugural founder’s award to octogenarian Japanese former judge Shinjiro Takagi, ahead of his forthcoming move to Singapore to help it become an international debt restructuring hub.

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.