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

Features

Distressed investors on the horizon?

Distressed investors on the horizon?

01 May 2020

The uncertainty in the Brazilian restructuring market has made it difficult to attract local investors, but there are signs that foreign investments are on the uptick. There is still work to be done, and lawyers say fixing the country’s DIP financing legislation would be a good start.

Even the past is uncertain: Brazil Worked Out

Even the past is uncertain: Brazil Worked Out

01 May 2020

For the latest of our ‘Worked Out’ features, GRR spoke to a crop of local practitioners about the lack of certainty in the Brazilian restructuring market and its side effects – from local banks trying to cut themselves out of restructurings to equity holders delaying filing before the country’s courts. Will proposed changes to the law bring more predictability? GRR investigates.

Covid-19: Spain introduces second round of insolvency measures

Covid-19: Spain introduces second round of insolvency measures

30 April 2020

José Carles and Carlos Cuesta, partners at Spanish insolvency and restructuring boutique Carles Cuesta, examine the second round of insolvency-related measures introduced in Spain, one of the countries worst-hit by covid-19.

Covid-19 calls: BVI partner Richard Brown at Carey Olsen

Covid-19 calls: BVI partner Richard Brown at Carey Olsen

30 April 2020

"Economic downturns tend to expose companies that have been run fraudulently and in the BVI we tend to see an increase of those cases in the wake of financial shocks". Carey Olsen’s London-based British Virgin Islands partner Richard Brown tells GRR that he expects the fallout from covid-19 to uncover some Ponzi schemes in the coming months.

Covid-19: Does D&O liability insurance offer protection from insolvency?

Covid-19: Does D&O liability insurance offer protection from insolvency?

29 April 2020

Francis Kean, partner at specialist insurance broker McGill and Partners, examines some of the traps into which directors of potentially insolvent companies can fall when it comes to seeking personal liability protection from their directors and officers liability insurance programmes.

Impact of covid-19 on resolution applicants under the IBC

Impact of covid-19 on resolution applicants under the IBC

24 April 2020

Supriyo Ranjan Mahapatra, an associate with Trilegal in New Delhi, discusses recent changes made to the Indian Bankruptcy Code 2016 to protect businesses during the pandemic, and suggests ways that resolution applicants can tackle some of the concerns they currently face – from adding force majeure clauses to resolution plans to renegotiating plans on the basis of revised asset valuations.

Covid-19 calls: Nick Pike at Pinsent Masons in London

Covid-19 calls: Nick Pike at Pinsent Masons in London

24 April 2020

“It is quite plain that we are not going to go back to anything like where we were two months ago.” Pinsent Masons partner Nick Pike tells GRR why he thinks consumer demand will take years to recover from the covid-19 crisis, how the UK government’s emergency measures have staved off an immediate wave of insolvencies, and why working from home might become the new normal.

It’s time to give winding up a rewind: from digital to analogue insolvency

It’s time to give winding up a rewind: from digital to analogue insolvency

22 April 2020

Howard Morris, head of business restructuring and insolvency at Morrison & Forester in London, argues we should look to the “analogue” tools of yesteryear – trading administration, provisional liquidation and liquidation – to tackle the nuclear winter that’s set to follow the coronavirus’ economic impact. These tools don’t have to be a death knell for businesses, he says: they can offer shelter and survival.

Covid-19 calls: Susheel Kirpalani and Dennis Hranitzky at Quinn Emanuel Urquhart & Sullivan in New York

Covid-19 calls: Susheel Kirpalani and Dennis Hranitzky at Quinn Emanuel Urquhart & Sullivan in New York

21 April 2020

“While our clients are obviously interested in maximising returns for investors, they are also respectful of the fact that countries like Ecuador have to address the incipient public health crisis that is presented by covid-19.” Quinn Emanuel’s Susheel Kirpalani and Dennis Hranitzky discuss the impact of the covid-19 pandemic on sovereign debt workouts in Argentina and Ecuador, and how the US response to the crisis has been marred by political enmities between federal and state governments.

Covid-19 calls: Natasha Labovitz at Debevoise & Plimpton in New York

Covid-19 calls: Natasha Labovitz at Debevoise & Plimpton in New York

20 April 2020

“It is easy to think that things will never be the same, but history repeats itself.” Co-chair of Debevoise & Plimpton’s restructuring group Natasha Labovitz discusses the limitations stopping some businesses from accessing government relief programs, how Debevoise solicited the advice of an epidemiologist to prepare for covid-19, and why US bankruptcy courts might be some of the most innovative courts in the country.

Names to know in Ireland

Names to know in Ireland

17 April 2020

A list of the key names to know in the Dublin restructuring scene, from Irish law firms to international law firms and non-lawyer insolvency practitioners.

Looking ahead and Brexit

Looking ahead and Brexit

17 April 2020

Ireland’s economy has been buoyant in recent years and the long tide of crash-era property enforcement work is subsiding, lawyers say. But more work is on its way thanks to Brexit and multinationals looking local.