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

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AlixPartners hires former PwC restructuring head in Dubai

AlixPartners hires former PwC restructuring head in Dubai

29 May 2020

AlixPartners has hired the former head of PwC’s Middle East restructuring practice Matthew Wilde as a managing director in Dubai.

Hyflux restructuring deal expires

Hyflux restructuring deal expires

29 May 2020

A restructuring deal agreed by embattled Singaporean utility Hyflux and UAE-based investor Utico last year has now expired – but the parties are continuing to negotiate.

Ex-Lehman Brothers Europe administrators discharged from liability

Ex-Lehman Brothers Europe administrators discharged from liability

29 May 2020

An English court has released the former administrators of Lehman Brothers’ European arm from liability, in the first order of its kind for a company now in liquidation.

Australian court dismisses new China reciprocity arguments in DOCA appeal

Australian court dismisses new China reciprocity arguments in DOCA appeal

29 May 2020

Unsecured creditors to an Australian-Chinese construction joint venture have failed to overturn a deed of company arrangement on appeal, after the Federal Court of Australia refused to consider new points on enforcing an Australian decision in China on the basis of reciprocity.

“Everything you could want”: Dutch pre-insolvency law to enter into force this summer

“Everything you could want”: Dutch pre-insolvency law to enter into force this summer

28 May 2020

The Dutch parliament has approved a final draft of its bill for an “innovative” new pre-insolvency tool, a week after adding amendments that further empower debtors.

Simpson Thacher & Bartlett recruits in New York

Simpson Thacher & Bartlett recruits in New York

28 May 2020

Sullivan & Cromwell special counsel David Zylberberg, who worked on the restructurings of SunEdison, Arcadia and Bristow Group, has joined Simpson Thacher & Bartlett in New York.

“Golden shares” cannot block bankruptcy, Delaware court rules

“Golden shares” cannot block bankruptcy, Delaware court rules

28 May 2020

A Delaware court has found that shareholders cannot use blocking rights to stop companies filing for bankruptcy, declining to follow a Fifth Circuit ruling on so-called “golden shares”.

Sports Direct successor files provisional liquidation against ex-Debenhams top co

Sports Direct successor files provisional liquidation against ex-Debenhams top co

27 May 2020

The UK retail group formerly known as Sports Direct International has applied to place Debenhams’ old top company in provisional liquidation, urging an investigation into the objectivity of its FTI Consulting administrators when they sold it to lenders last year.

Gibson Dunn & Crutcher re-hires finance partner in Dubai

Gibson Dunn & Crutcher re-hires finance partner in Dubai

27 May 2020

Gibson Dunn & Crutcher has re-hired Aly Kassam as a finance partner in the firm’s Dubai office.

GLAS recruits ex-Lehman in-house counsel for US expansion

GLAS recruits ex-Lehman in-house counsel for US expansion

27 May 2020

GLAS Americas, the US branch of the global loan agency and bond trustee services provider, has added to its New York team with the hire of former Lehman Brothers lawyer and Burford Capital investment manager Christy Searl.

J Crew wins rent relief in US

J Crew wins rent relief in US

27 May 2020

A US bankruptcy court has allowed apparel retailer J Crew to pause rent payments for two months, following similar orders handed down in Australia and England to protect retailers struggling from the covid-19 pandemic.

Chile’s Latam Airlines follows Avianca example with New York Chapter 11

Chile’s Latam Airlines follows Avianca example with New York Chapter 11

26 May 2020

Hot on the heels of the Colombian-Panamanian airline Avianca, South America’s largest passenger airline Latam has also become a US “bankruptcy tourist” - and has filed recognition proceedings in Chile and Colombia, as well as a parallel process in Peru.