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

News

Spanish building materials company files for bankruptcy amid asbestos claims

Spanish building materials company files for bankruptcy amid asbestos claims

21 February 2020

Spain’s largest cement and asbestos company has filed for voluntary insolvency after litigation by former workers and residents near the company’s factory impeded its ability to secure liquidity.

Former OW Bunker trustee joins Copenhagen boutique

Former OW Bunker trustee joins Copenhagen boutique

21 February 2020

Plesner partner Pernille Bigaard, the former trustee in bankruptcy of shipping fuel supplier OW Bunker, has left the firm to join restructuring boutique Sundgaard.

Paul Hastings hires Winston & Strawn pair

Paul Hastings hires Winston & Strawn pair

20 February 2020

The head of Winston & Strawn’s restructuring practice, Justin Rawlins, has joined Paul Hastings in Los Angeles along with fellow Winston partner Phil Ratner in New York.

“The epitome of a cross-border restructuring”: Noble Unpacked

“The epitome of a cross-border restructuring”: Noble Unpacked

20 February 2020

A Bermuda-incorporated company, listed in Singapore, with a centre of main interest (COMI) in Hong Kong and operations across the world, commodities trader Noble Group was always going to be challenging to reorganise. In the latest in GRR’s Unpacked series, the practitioners tasked with solving this US$3.5 billion puzzle discuss how disgruntled shareholders, regulatory interventions and a disgruntled ex-employee’s blog made Noble’s restructuring one for the ages.

Swiss jeweller embroiled in “Luanda Leaks” files for bankruptcy

Swiss jeweller embroiled in “Luanda Leaks” files for bankruptcy

19 February 2020

A jewellery company linked to Angolan billionaire Isabel dos Santos has begun bankruptcy proceedings in Switzerland and the US.

UK crypto casualty files for California Chapter 15

UK crypto casualty files for California Chapter 15

19 February 2020

A UK-headquartered cryptocurrency exchange has filed a Chapter 15 petition in San Francisco after a cyber-theft plunged the company into administration.

Construction group wound up in Bermuda after Hong Kong delisting

Construction group wound up in Bermuda after Hong Kong delisting

19 February 2020

A Bermuda court has terminated the “light touch” provisional liquidation of construction group Hsin Chong Group Holdings after determining that the key benefit of its restructuring “no longer exists”.

IBC amendments smooth path to Indian steel mill sale

IBC amendments smooth path to Indian steel mill sale

18 February 2020

Indian steel mill Bhushan Power & Steel has had its sale approved, after amendments to the country’s bankruptcy code allowed it to be purchased free of money laundering allegations that halted the sale last year.

Dechert hires second partner from Shearman in London

Dechert hires second partner from Shearman in London

18 February 2020

Dechert has hired Shearman & Sterling partner Alastair Goldrein in its London office, following its hire of Solomon Noh from the same firm earlier this month.

Heads-Up: Ian Mann and Chai Ridgers at Harneys in Hong Kong

Heads-Up: Ian Mann and Chai Ridgers at Harneys in Hong Kong

18 February 2020

“If you can use your ingenuity to identify how stakeholders will benefit from the restructuring, you will get past the lack of a legal framework.” Offshore firm Harneys’ Asia managing partner Ian Mann and head of restructuring in Asia Chai Ridgers speak to GRR about China Agrotech, commodities and restructuring without a cross-border framework in Asia.

Brazilian airport’s restructuring plan approved

Brazilian airport’s restructuring plan approved

17 February 2020

Creditors to the operator of a Brazilian airport have approved a debt restructuring plan after a two-day meeting of general creditors.

Khaitan & Co recruits New Delhi partner

Khaitan & Co recruits New Delhi partner

17 February 2020

Indian firm Khaitan & Co has recruited a new banking, restructuring and insolvency partner in New Delhi.