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

Features

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.

No city-state is an island

No city-state is an island

11 April 2016

Kannan Ramesh SC is a Judicial Commissioner of the Singapore Supreme Court with a long-time focus on cross-border insolvency and restructuring. He spoke to GRR about the city-state's adoption of the UNCITRAL Model Law, cross-border cooperation in the context of the Trans-Pacific Partnership, and why his elderly grandfather was disappointed when he became a lawyer.

SINGAPORE: Court-to-court protocols are the key to cross-border consensus

SINGAPORE: Court-to-court protocols are the key to cross-border consensus

11 April 2016

Two judges and a lawyer from China, Singapore and the US discussed how to better manage cross-border insolvencies across Asia, agreeing that court-to-court protocols are a better solution than trying to harmonise different countries’ laws.

Asset recovery column: Why fraudsters should fear cross-border insolvency

Asset recovery column: Why fraudsters should fear cross-border insolvency

11 April 2016

Founding member Ed Davis and partner Annette Escobar of Astigarraga Davis in Miami discuss how recognition of foreign insolvency proceedings under the UNCITRAL Model Law can be a very effective tool in asset recovery.

Lessons learned from judging Lehman

Lessons learned from judging Lehman

11 April 2016

One week in September 2008 changed the life of Judge James Peck. He talks to GRR about the proposed changes for the restructuring of systemically important financial institutions since Lehman, and suggests ways to enhance international cooperation between bankruptcy courts and regulators in the event of another crisis of that scale.

Asset recovery column: Is insolvency the nuclear bomb of asset recovery?

Asset recovery column: Is insolvency the nuclear bomb of asset recovery?

01 March 2016

In the first of a series of columns on asset recovery, Edward Davis, a founding member of Astigarraga Davis in Miami and repeat winner of Who’s Who Legal’s Asset Recovery Lawyer of the Year award since 2013, considers asset tracing in the context of insolvency and how the two distinct legal practices can help each other.

Restructuring the eurozone

Restructuring the eurozone

01 March 2016

GRR recently met Spanish academic Ignacio Tirado, a specialist in sovereign insolvency, in Madrid’s Ritz Hotel - a venue that belies any sign of a eurozone crisis. There, the professor from the Autonomous University of Madrid discussed the the need for an international treaty on sovereign debt restructuring, as well as the pros and cons of the EU’s post-crisis financial stability mechanism.

Sovereign debt column: Where we are now with collective action clauses

Sovereign debt column: Where we are now with collective action clauses

01 March 2016

Andrew Shutter, a partner at Cleary Gottlieb Steen & Hamilton in London, argues that the ability to impose the wishes of the majority creditors on the minority by operation of law, often used in corporate insolvencies, can also be beneficial in sovereign debt restructurings.