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

News

Alleged real estate fraudster files Chapter 15 in Florida

Alleged real estate fraudster files Chapter 15 in Florida

15 January 2020

The bankruptcy trustee of a Canadian mortgage investor who allegedly oversaw a “massive” fraudulent scheme has filed for Chapter 15 protection in Florida.

Flybe rescue prompts EU state aid complaint from BA owner

Flybe rescue prompts EU state aid complaint from BA owner

15 January 2020

The UK government has swooped in to rescue regional airline Flybe, prompting the owner of rival airline British Airways to file a state aid complaint to the European Commission.

US Supreme Court says bankruptcy stay orders are “immediately appealable”

US Supreme Court says bankruptcy stay orders are “immediately appealable”

15 January 2020

A bankruptcy court’s decision to deny a creditor’s motion for relief from the automatic stay is an “immediately appealable” order, the US Supreme Court has ruled.

Norton Rose and Hughes Hubbard promote in Australia, US and UK

Norton Rose and Hughes Hubbard promote in Australia, US and UK

14 January 2020

Norton Rose Fulbright have made restructuring and insolvency partner promotions in Sydney and London while Hughes Hubbard & Reed have announced a new partner in New York.

Mainland Chinese liquidators recognised in Hong Kong for first time

Mainland Chinese liquidators recognised in Hong Kong for first time

14 January 2020

A Hong Kong court has recognised a mainland Chinese liquidation for the first time, granting a stay on creditor proceedings after declining to follow a 110-year-old English precedent.

Lupatech Chapter 15 closed for second time

Lupatech Chapter 15 closed for second time

13 January 2020

A New York court has closed the Chapter 15 case of Brazilian oil and gas company Lupatech for the second time, after the case was reopened in 2018.

Two dissolved Scottish companies to face IP lawsuit in Texas

Two dissolved Scottish companies to face IP lawsuit in Texas

13 January 2020

A Scottish court has agreed to restore two liquidated engineering companies so they can properly face a host of civil claims brought against them in the United States.

HWW partner appointed preliminary administrator to German solar company

HWW partner appointed preliminary administrator to German solar company

13 January 2020

A Chinese-owned solar technology company has filed for preliminary insolvency in Germany, months after the bankruptcy of two of its German and Swedish affiliates.

Advisory firms make hires across UK

Advisory firms make hires across UK

10 January 2020

Advisory firms Alvarez & Marsal, Quantuma and BDO have made promotions and hires across their UK offices.

Kenya’s first administration ends in liquidation

Kenya’s first administration ends in liquidation

10 January 2020

Creditors of Kenyan supermarket chain Nakumatt have voted to place the company into liquidation, two years after becoming the first company to use Kenya’s administration procedure.

Creditors approve steel company’s Singapore scheme after English recognition

Creditors approve steel company’s Singapore scheme after English recognition

10 January 2020

UPDATED: Steel producer H&C S Holdings has obtained creditor approval for a Singapore scheme of arrangement, 10 months after securing the first English recognition of the country’s moratorium law.

Hyflux seeks proofs of claim while new investor offers debt buyout

Hyflux seeks proofs of claim while new investor offers debt buyout

10 January 2020

Singapore’s struggling water treatment company Hyflux has asked creditors to file proofs setting out their claims, as it looks to convene scheme meetings to vote on its restructuring deal with UAE utility Utico.