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McDermott International’s contested English restructuring would have gone to mediation and would likely have resulted in a settlement if it was playing out in the US, according to a former bankruptcy judge who acted as an expert in the case.
27 February 2024
India’s Insolvency and Bankruptcy Code has helped cure “almost life-threatening” levels of non-performing assets faster than anybody anticipated, an international audience heard this weekend. As the country gears up to become the world’s third largest economy, the question is how to sustain growth for the next 25 years, and the challenge is encouraging foreign private investment in its debt.
12 February 2024
Saudi Arabia’s bankruptcy law may be young, but it has adopted best practices from across the globe and has already successfully restructured some “mega businesses”, the general secretary of the Bankruptcy Commission of Saudi Arabia told attendees at INSOL International’s inaugural conference in Riyadh last week.
31 January 2024
As the US Supreme Court mulls over a potentially game-changing ruling in the Purdue Pharma restructuring, lawyers and judges clashed over the use of bankruptcy law to deal with mass torts and the legitimacy of Texas two-step transactions at the 42nd annual Jay Westbrook Bankruptcy Conference.
10 January 2024
In the year that witnessed the downfalls of Silicon Valley Bank, First Republic and Credit Suisse, judges, lawyers and academics gathered in Rome to discuss the growing need for a model law specific to distressed financial institutions that will not be perceived as a risk to state sovereignty.
24 November 2023
In a fireside chat with Hong Kong’s Official Receiver Phyllis McKenna, the Hong Kong High Court's Madam Justice Linda Chan advocated adopting the UNCITRAL Model Law and heralded the potential impact of a new arrangement with Mainland China due next year, for the mutual enforcement of civil and commercial judgments.
01 November 2023
Where did the Gibbs rule come from? How have certain courts allowed parties to get around it? And what are the sticking points for obtaining recognition of foreign restructuring or insolvency judgments in jurisdictions like Hong Kong and the US? An illustrious panel of international judges gave attendees at INSOL’s Tokyo conference their insights – and a brief history lesson.
26 October 2023
Former New York bankruptcy judge Allan Gropper has called for the US to adopt an English-style scheme of arrangement in comments made during the American Bankruptcy Institute’s cross-border insolvency program in New York.
25 October 2023
The stigma of liability management has gone and higher interest rates are driving a new wave of transactions, according to a panellist at the National Conference of Bankruptcy Judges’ annual conference in Texas.
18 October 2023
One of the architects of the UNCITRAL Model Law has warned against Chapter 15 being used to avoid US policy, while a former New York bankruptcy judge has suggested choice of law analysis could be a “proper solution” for disputes over the enforcement of foreign court rulings.
13 October 2023
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