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Cayman court appoints liquidators over hedge fund accused of fraud

Cayman court appoints liquidators over hedge fund accused of fraud

25 August 2016

A court in the Cayman Islands has appointed joint liquidators to wind down the flagship offshore arm of hedge fund group Platinum Partners, which is facing investigations in the US over alleged fraud.

Puerto Rican court stays civil suits under PROMESA

Puerto Rican court stays civil suits under PROMESA

25 August 2016

A US district court has stayed three civil suits challenging the constitutionality of Puerto Rico’s recently enacted Moratorium Act, until February 2017 – but it will schedule a hearing in due course to see if there is cause for relief from the stay.

China Fishery's state-owned lenders object to Chapter 11 trustee

China Fishery's state-owned lenders object to Chapter 11 trustee

24 August 2016

Chinese state-owned lenders to the bankrupt industrial fishing conglomerate China Fishery Group have filed a string of objections in a US court, after an international consortium of financiers moved to appoint a Chapter 11 trustee.

Pacific Exploration gets go-ahead on debt deal

Pacific Exploration gets go-ahead on debt deal

24 August 2016

Canadian-Colombian oil company Pacific Exploration has won court approval in Canada for its restructuring deal with Canadian financier Catalyst.

Duff & Phelps moves London head to Hong Kong, recruits in New York

Duff & Phelps moves London head to Hong Kong, recruits in New York

24 August 2016

Advisory firm Duff & Phelps has relocated one of its London leaders to Hong Kong following predictions of an increase in defaults in the Asia region, while its New York office has hired a new managing director from Deloitte.

BRUSSELS: six points to consider when shifting COMI

BRUSSELS: six points to consider when shifting COMI

23 August 2016

A recent debate in Brussels considered the virtues of different insolvency regimes in the US and EU for the purpose of choosing a centre of main interest (COMI) – and found that forum shoppers are probably best off in America.

Deutsche Bank and JP Morgan settle claims over Washington Mutual default

Deutsche Bank and JP Morgan settle claims over Washington Mutual default

23 August 2016

JP Morgan Chase and Deutsche Bank have agreed a settlement with the receiver of the US banking group Washington Mutual’s estate, bringing an end to several long-running litigations arising from the bank’s 2008 collapse.

IWIRC announces new directors for 2016-17

IWIRC announces new directors for 2016-17

22 August 2016

The International Women’s Insolvency and Restructuring Confederation (IWIRC) has revealed a list of 39 restructuring specialists from across the globe who will sit on its board for 2016 to 2017, serving under new chair Nancy Valentine of US firm Ice Miller.

Borden Ladner Gervais adds partner from Davies Ward in Montreal

Borden Ladner Gervais adds partner from Davies Ward in Montreal

22 August 2016

Borden Ladner Gervais has added Montréal-based Hugo Babos-Marchand as a partner in its banking and insolvency groups.

Morrison & Foerster and Felsberg advise on alternative plan for Oi

Morrison & Foerster and Felsberg advise on alternative plan for Oi

19 August 2016

Morrison & Foerster and Brazilian firm Felsberg Advogados are working on an alternative restructuring plan for Brazilian Telecoms company Oi, along with São Paulo–based consultancy Integra Associados, and New York investment banking boutique ACGM.

Texas bankruptcy court modifies Canadian stay for US creditors

Texas bankruptcy court modifies Canadian stay for US creditors

19 August 2016

A Texas bankruptcy court has departed from earlier precedent on the application of foreign stays in the US under Chapter 15, establishing that US bankruptcy courts will not always apply the law of a foreign jurisdiction to US creditors and US-based claims.

LAST CHANCE TO VOTE - GRR's young insolvency and restructuring practitioners survey

LAST CHANCE TO VOTE - GRR's young insolvency and restructuring practitioners survey

19 August 2016

The voting deadline has been extended for GRR’s survey of the best of the younger generation of insolvency and restructuring practitioners – but polls must close on Monday.