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

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CJEU pre-packs employment ruling met with warning

CJEU pre-packs employment ruling met with warning

21 May 2019

A European court has ruled that pre-packaged sales are not exempt from EU restrictions on employee redundancies, with one practitioner warning the ruling may stifle restructurings.

Trademark users win in US Supreme Court ruling

Trademark users win in US Supreme Court ruling

21 May 2019

Trademark licensees can continue to sell merchandise when the trademark owner ends a licensing agreement upon filing for bankruptcy protection, the US Supreme Court has ruled.

English High Court recognises winding-up of solvent Bermudian fund

English High Court recognises winding-up of solvent Bermudian fund

20 May 2019

An English court has recognised the Bermudian winding-up of a solvent investment fund, finding that insolvency is not a requirement for recognition under the UK's Cross-Border Insolvency Regulations.

Using foreign judgments to get your debt paid under India’s Insolvency and Bankruptcy Code

Using foreign judgments to get your debt paid under India’s Insolvency and Bankruptcy Code

20 May 2019

Last year, the Ghanaian branch of African bank Stanbic became the first party to use an English judgment as evidence of a debt to trigger insolvency proceedings under India’s Insolvency and Bankruptcy Code 2016. The bank’s English counsel – Thomas Williams of Sultan Al-Abdulla & Partners, and Anna Booth and Michael Lee of Womble Bond Dickinson – explain how they did it.

INSOL’s first female president outlines new diversity policies

INSOL’s first female president outlines new diversity policies

20 May 2019

Alvarez & Marsal managing director Julie Hertzberg has outlined her plans to improve diversity at networking group INSOL International, after becoming its first female president.

GRR Awards 2019 – diversity

GRR Awards 2019 – diversity

20 May 2019

GRR is delighted to reveal the nominees for our first “Diversity in restructuring” award for a team or practice.

Jersey court distributes Yugoslav refinancing trust assets to successor states

Jersey court distributes Yugoslav refinancing trust assets to successor states

17 May 2019

A Jersey court has ended a 15-year deadlock over how to split the assets of a former Yugoslav state-owned trust among five of the country’s successor states, in the tale of a sovereign debt refinancing waylaid by war.

Unpacked: How did they solve a problem like Mriya?

Unpacked: How did they solve a problem like Mriya?

17 May 2019

GRR looks back at the restructuring of Ukrainian farming conglomerate Mriya: how counsel got it across the line against a backdrop of more than US$1 billion in debt, expiring land leases, a former owner accused of embezzlement, a convoluted corporate structure spread across Ukraine and Cyprus, and – in its darkest hours – armed men in fields trying to seize assets by force.

GRR Awards 2019 – litigation

GRR Awards 2019 – litigation

17 May 2019

The list of nominees for “Most significant restructuring or insolvency-related litigation” at the GRR Awards 2019 is out.

Croatia’s Uljanik shipyard enters bankruptcy

Croatia’s Uljanik shipyard enters bankruptcy

16 May 2019

A shipyard in the Croatian city of Pula has entered bankruptcy proceedings after years of struggle, but looks unlikely to receive state support in the form of an emergency restructuring as Agrokor did.

Ferrier Hodgson appointed over lossmaking Hyflux asset

Ferrier Hodgson appointed over lossmaking Hyflux asset

16 May 2019

As Singaporean water treatment company Hyflux announces new interest from potential overseas investors, Malaysia’s Maybank has appointed Ferrier Hodgson as receivers over its major asset – a water treatment facility whose lossmaking performance dragged the company into insolvency.

GRR Awards 2019 - jurisdiction

GRR Awards 2019 - jurisdiction

16 May 2019

GRR Awards 2019: the nominees for the “Jurisdiction of the year” award are now online.