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

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Rothschild restructuring director joins PwC

Rothschild restructuring director joins PwC

01 December 2015

PricewaterhouseCoopers has hired a former director of Rothschild’s restructuring practice as a partner in its London office.

Amendments to Kazakh bankruptcy law signed and enacted

Amendments to Kazakh bankruptcy law signed and enacted

01 December 2015

The Republic of Kazakhstan has introduced amendments to its bankruptcy law, setting forth new measures to prevent a company from going into liquidation.

Greenberg launches energy restructuring team with McDermott hire

27 November 2015

Greenberg Traurig has hired McDermott Will & Emery partner Iskender “Alex” Catto as the head of its newly created power industry projects and restructuring group in New York.

Irish billionaire declared bankrupt in the Bahamas despite challenge from Irish creditor

Irish billionaire declared bankrupt in the Bahamas despite challenge from Irish creditor

26 November 2015

The Bahamian Supreme Court has declined to register a personal insolvency arrangement for Irish former billionaire and international rugby player Sir Anthony O’Reilly and declared him bankrupt instead, amid calls from a creditor bank that he was trying to avoid paying a judgment debt awarded by a court in Ireland.

Paul Hastings hires Linklaters Lehman partner

Paul Hastings hires Linklaters Lehman partner

24 November 2015

A former Linklaters partner who represented Lehman Brothers’ administrators before the UK courts is joining the London office of US firm Paul Hastings.

UK scheme approved for Ukraine’s largest bank

UK scheme approved for Ukraine’s largest bank

20 November 2015

Ukraine’s PrivatBank has become the first Ukrainian bank to successfully restructure its public debts through an English scheme of arrangement sanctioned by the UK High Court.

Argentina passes law to codify UN principles on sovereign debt

Argentina passes law to codify UN principles on sovereign debt

20 November 2015

Argentina has passed a law adopting the recently agreed UN Basic Principles on Sovereign Debt Restructuring into law.

Canadian steelmaker crumples under global supply pressure

Canadian steelmaker crumples under global supply pressure

20 November 2015

Canada’s Essar Steel Algoma has filed for bankruptcy protection in US and Canadian courts, just eight months after exiting a restructuring process filed last year and in the midst of a civil action by a raw material supplier.

Hong Kong’s highest court finds jurisdiction to wind up BVI company

Hong Kong’s highest court finds jurisdiction to wind up BVI company

18 November 2015

The Hong Kong Court of Final Appeal has ruled for the first time on its statutory jurisdiction to wind up a foreign entity, ordering the liquidation of a BVI-registered holding company for a famous Hong Kong restaurant.

UK court gives Nortel administrators final call on distributions

UK court gives Nortel administrators final call on distributions

17 November 2015

The UK High Court has, for the first time, delivered guidance on distributions during the administration of non-UK companies.

UK court diverges from MF Global on extra-territoriality

UK court diverges from MF Global on extra-territoriality

17 November 2015

Departing from the England & Wales High Court’s recent decision in MF Global, a regional court in the UK has ruled that the Insolvency Act 1986 can be used to order production of documents overseas, permitting the receiver of a wound-up UK pension scheme trustee to seek evidence from Hong Kong.

Lehman on the hook for $1 billion over failed Intel share deal

Lehman on the hook for $1 billion over failed Intel share deal

16 November 2015

A US bankruptcy court has held that Lehman Brothers owes over US$1 billion to Intel Corporation after a failed share repurchase deal.