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Maybank fails in interest claim over vessel transferred for free

Maybank fails in interest claim over vessel transferred for free

21 March 2019

A Malaysian bank has failed to convince a Singaporean court that it had a superior security interest over a vessel transferred to a Saudi third party for free.

Shareholders back Russian billionaire’s rescue plan for Spanish retailer

Shareholders back Russian billionaire’s rescue plan for Spanish retailer

21 March 2019

Uría Menéndez and Clifford Chance are advising the board of Spanish supermarket chain Distribuidora Internacional de Alimentación (Dia) in rescue talks, where shareholders have voted to back a plan put forward by Russian billionaire Mikhail Fridman.

Nine West exits Chapter 11 after settling Sycamore LBO dispute

Nine West exits Chapter 11 after settling Sycamore LBO dispute

21 March 2019

US clothes retailer Nine West Holdings has emerged from Chapter 11 bankruptcy, having cut its debt by US$1 billion and settled a creditor dispute with its private equity sponsor Sycamore Partners.

German wind turbine maker Senvion appoints London restructuring adviser

German wind turbine maker Senvion appoints London restructuring adviser

20 March 2019

Hamburg wind turbine maker Senvion has hired a London-based restructuring adviser with credits on several cases that have seen centre of main interests and governing law shifts from Europe to the UK to help it seek a refinancing.

New York court approves pre-pack for Indonesian shipper

New York court approves pre-pack for Indonesian shipper

20 March 2019

The SDNY bankruptcy court has approved a pre-packaged restructuring plan for Indonesian shipping company Arpeni’s Dutch note-issuing subsidiary, seven years on from the parent company’s first restructuring.

Singapore court refuses to extend CNA Group’s judicial management order

Singapore court refuses to extend CNA Group’s judicial management order

20 March 2019

The judicial manager of Singapore-incorporated CNA Group has been refused a seventh request to extend a judicial management order originally issued in September 2015, after an agreement entered with Malaysian buyers fell through.

Ezra Holdings tries to claw back US$50 million in US as Singapore JM looms

Ezra Holdings tries to claw back US$50 million in US as Singapore JM looms

19 March 2019

Offshore oil and gas services group Ezra Holdings has sued a bank creditor to claw back US$50 million paid out before its Chapter 11 filing, as it awaits judicial management in Singapore following its abandonment of a local scheme.

Plan approved for aerospace manufacturer Nordam Group

Plan approved for aerospace manufacturer Nordam Group

19 March 2019

The Delaware bankruptcy court has approved a Chapter 11 plan and disclosure statement for aircraft parts manufacturer Nordam Group, months after approving its settlement of the Canadian contract dispute that led the company into bankruptcy.

Sahoo and Shroff to headline GRR Live Singapore

Sahoo and Shroff to headline GRR Live Singapore

19 March 2019

Indian legal legend Cyril Shroff and the chair of the Insolvency and Bankruptcy Board of India MS Sahoo will both speak at GRR Live Singapore on 1 April - early bird tickets are still available, but not for long!

Cleary overturns Brussels’ rejection of Italian bank rescue

Cleary overturns Brussels’ rejection of Italian bank rescue

19 March 2019

An EU court has upheld the 2014 rescue of Italy's troubled Banca Tercas, accepting a challenge to a European Commission state aid ruling from a banking consortium represented by Cleary Gottlieb Steen & Hamilton.

Cambridge Analytica seeks winding-up in London as US creditor objects

Cambridge Analytica seeks winding-up in London as US creditor objects

18 March 2019

The joint administrators of Cambridge Analytica’s six UK companies have applied for winding-up orders and to have themselves appointed as liquidators - but a New York-based creditor has raised concerns about their independence.

Gabriel Moss QC: a titan and a gentleman

18 March 2019

Gabriel Moss QC, an internationally recognised barrister, scholar and part-time judge described as a “titan of the insolvency and restructuring world” by his chambers, died unexpectedly on 15 March.