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

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Dentons recruits from DLA Piper in Melbourne as covid-19 fuels demand

Dentons recruits from DLA Piper in Melbourne as covid-19 fuels demand

01 April 2020

International firm Dentons has recruited a pair of restructuring lawyers from DLA Piper in Melbourne, including its Australian head of restructuring, as it braces itself for a coronavirus-fuelled growth in demand.

Sullivan & Cromwell helps Key Energy Services restructure amid sustained oil price plunge

Sullivan & Cromwell helps Key Energy Services restructure amid sustained oil price plunge

01 April 2020

Sullivan & Cromwell helped the American oilfield services provider Key Energy Services complete an out-of-court restructuring earlier this month, three years after the company completed a Chapter 11.

Singapore is latest to propose COVID-19 insolvency relief

Singapore is latest to propose COVID-19 insolvency relief

01 April 2020

Hot on the heels of countries such as Germany and Australia, Singapore plans to temporarily relax insolvency-related obligations due to the coronavirus pandemic – a move welcomed by local practitioners after bleak economic estimates for the island.

Cryptoassets – how are they treated in an English insolvent estate?

Cryptoassets – how are they treated in an English insolvent estate?

01 April 2020

Goodwin Procter partner Simon Thomas and associate Emily Lockhart in London argue that, when the economy returns to normal, UK officeholders will be “in a prime position” to deal with the challenges of realising crytoassets for the benefit of creditors.

Ashurst and Freshfields seek rescue administrations for Carluccio’s and BrightHouse

Ashurst and Freshfields seek rescue administrations for Carluccio’s and BrightHouse

31 March 2020

Ashurst and Freshfields Bruckhaus Deringer are advising administrators on what they hope will be the rescue of a UK restaurant chain and a rent-to-own retailer, as the economic impact of coronavirus starts to take effect on the British high street.

Public contract fraud settlements wiped out under CCAA, appeal court says

Public contract fraud settlements wiped out under CCAA, appeal court says

31 March 2020

A Quebec appeal court has blocked the City of Montreal from setting-off claims arising from a fraud settlement with a global engineering company, against money it owed to the company for municipal work carried out after it obtained CCAA protection.

FRP hires “industry stalwart” from US fund in London

FRP hires “industry stalwart” from US fund in London

31 March 2020

FRP Advisory has appointed former KPMG director Ian Corfield as a partner in its restructuring group in London.

COVID-19: What measures has the French government put in place?

COVID-19: What measures has the French government put in place?

31 March 2020

Alexandra Szekely, partner at French litigation boutique Le 16 Law, examines the measures introduced by the French government to stave off large-scale corporate collapses in response to the COVID-19 pandemic.

Government-backed Bermudan property developer obtains stay in New York

Government-backed Bermudan property developer obtains stay in New York

31 March 2020

A New York court has granted emergency Chapter 15 relief to a Bermudan property developer that defaulted on two tranches of loans backed by the territory’s government.

UK joins other nations in suspending wrongful trading

UK joins other nations in suspending wrongful trading

30 March 2020

Updated: The UK has become the latest country to suspend its wrongful trading laws and potentially change other aspects of its insolvency regime, in a bid to avoid mass filings during the coronavirus crisis. GRR examines the changes proposed around the world so far.

Dentons advising developer on Singapore and Malaysia proceedings

Dentons advising developer on Singapore and Malaysia proceedings

30 March 2020

Cayman Islands-incorporated property developer Capital World has entered court-supervised restructuring proceedings in Singapore and Malaysia, with counsel from Dentons’ Singaporean arm.

English court approves payment scheme for Ukrainian bank’s bondholders

English court approves payment scheme for Ukrainian bank’s bondholders

30 March 2020

The trustee for US$375 million in defaulted eurobonds issued on behalf of a Ukrainian bank can follow an arbitral tribunal’s directions to pay certain bondholders and not others, the High Court in London has ruled.