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ArcelorMittal plan for Essar Steel approved

ArcelorMittal plan for Essar Steel approved

11 March 2019

Luxembourg-headquartered steel manufacturer ArcelorMittal has won approval for its 500 billion rupee (US$7.15 billion) resolution plan for debt-laden Essar Steel India from a National Company Law Tribunal in Ahmedabad.

On and off the bench: an interview with Judge Shelley Chapman

On and off the bench: an interview with Judge Shelley Chapman

08 March 2019

Judge Shelley C Chapman, the New York bankruptcy judge who took the reins of Lehman five years ago, met GRR to talk about “too big to fail” financial institutions, US bankruptcy law, and her career on and off the bench.

Flybe cleared for takeover as UK scheme approved

Flybe cleared for takeover as UK scheme approved

08 March 2019

The English High Court has approved a shareholders' scheme for UK regional airline Flybe, finalising its takeover by a consortium led by Virgin Atlantic as part of a January rescue deal.

English appeal court weighs in on floating charge avoidance

English appeal court weighs in on floating charge avoidance

08 March 2019

In the absence of any previous authorities, an English appeal court has given guidance on how to value payments exempt from the UK Insolvency Act’s section on avoidance of floating charges.

Reimer hires new head of litigation from Arnold & Porter

Reimer hires new head of litigation from Arnold & Porter

08 March 2019

German bankruptcy boutique Reimer has hired Alexander Druckenbrodt as its new head of litigation in Frankfurt.

Jones Day hires Weil trio in Paris

Jones Day hires Weil trio in Paris

07 March 2019

Weil Gotshal & Manges partner Fabienne Beuzit has joined Jones Day along with two associates.

Bankruptcy technology firm acquires US software company

Bankruptcy technology firm acquires US software company

07 March 2019

A US technology firm co-owned by the former Kirkland & Ellis and Pachulski Stang Ziehl & Jones lawyers behind Kurtzman Carson Consultants, has acquired software company CINgroup, in a move that it says will “create the only end-to-end bankruptcy-technology platform in the market.”

US court orders Madoff trustee to redraft letter of request to Bermuda Supreme Court

US court orders Madoff trustee to redraft letter of request to Bermuda Supreme Court

07 March 2019

A US court has ordered the trustee of Bernie Madoff’s investment firm to narrow the deposition requests he plans to make to the Supreme Court of Bermuda, citing principles of international comity.

Young Conaway advising jeans maker Diesel on Chapter 11

Young Conaway advising jeans maker Diesel on Chapter 11

06 March 2019

Young Conaway Stargatt & Taylor is advising the US arm of Italian jeans maker Diesel, which has filed for Chapter 11 protection hoping to shed retail leases through a pre-packaged plan.

Singapore court recognises Zetta Jet’s Chapter 7 proceedings

Singapore court recognises Zetta Jet’s Chapter 7 proceedings

06 March 2019

The US trustee of luxury private plane operator Zetta Jet has obtained full recognition of its Chapter 7 proceedings from the High Court of Singapore, over 12 months after the same court found his appointment contravened public policy.

GRR Awards 2019: nominations open!

GRR Awards 2019: nominations open!

06 March 2019

Nominations are open for the GRR Awards 2019, which will be taking place in the beautiful city of Barcelona this year on Saturday 15 June.

Venezuelan opposition wades into PDVSA dispute with insolvent Canadian miner

Venezuelan opposition wades into PDVSA dispute with insolvent Canadian miner

05 March 2019

Venezuela’s opposition government has asked to intervene before a US court to stay enforcement proceedings against a state-owned oil company brought by insolvent Canadian miner Crystallex, arguing the case could frustrate the transition of presidential power.