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A Switzerland-headquartered automotive parts supplier that entered Chapter 11 in the midst of hostile litigation over asbestos liabilities inherited from its former US parent will now be restructured through a consensual plan designed by that parent, in a case described as “a great example of what Chapter 11 can accomplish, even for a company with its centre of gravity outside of the US”.
23 April 2021
Nevada-based cannabis producer Flower One has temporarily delisted its debentures in Canada so it can implement a restructuring; and struggling Canadian cannabis company CannTrust has secured an US$18 million credit facility in Ontario.
21 April 2021
Struggling flexible office space operator Knotel has received court approval for its sale to a subsidiary of US commercial real-estate giant Newmark, after its Chapter 11 proceedings were recognised in Canada.
24 March 2021
Months after completing a balance sheet restructuring, Canadian retail energy provider Just Energy Group has entered CCAA protection in Toronto and sought Chapter 15 recognition, blaming an “unforeseeable liquidity trap” caused by Texas’ unprecedented winter storm.
10 March 2021
Business advisory firm Ankura has strengthened its turnaround and restructuring group in New York with a new senior managing director from Goldman Sachs.
10 December 2020
Brazil’s senate has approved a long-tabled bankruptcy law, which is set to introduce cross-border provisions based on the UNCITRAL Model Law to the country’s regime.
27 November 2020
Online travel agency Asiatravel.com is pursuing a scheme of arrangement in Singapore and a second round of super-priority rescue financing, after becoming the first Singaporean company to secure such funding last year.
11 November 2020
Months after it approved a restructuring plan for telecoms company Frontier Communications, a New York court has appointed Evercore Group as its financial adviser and set its fees at a “reasonable” level, after repeat objections from creditors that they were “excessive”.
04 November 2020
Alexander Wood, a partner at Shearman & Sterling in London whose firm advised on the establishment of the Abu Dhabi Global Market’s legal and regulatory framework, discusses why parties to regional restructurings and insolvencies should now consider the ADGM regime.
23 October 2020
Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.
14 October 2020
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