Features
ADGM: A commercially fair and efficient Middle Eastern regime
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
Universality and comity: the Royal Court of Jersey and Lydian International
Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.
21 October 2020
Altair Asia: Cayman court declines to follow Hong Kong ruling
In a rare example of judicial comity being sidelined in a cross-border insolvency, the Cayman Islands Grand Court has declined to follow an earlier ruling of the High Court of Hong Kong. Harneys partner Jessica Williams and associate Mark Burrows examine the case of Altair Asia.
13 October 2020
Should Jersey have a corporate rescue regime?
Partner Stephen Alexander and associate Max Galt at Mourant in Jersey set out why a traditionally creditor-friendly offshore jurisdiction like Jersey, with its commercially minded and flexible Royal Court, would still benefit from introducing a statutory reorganisation process.
24 September 2020
Sovereign debt restructuring in times of stress: lessons from Ecuador and Argentina
Hogan Lovells partner Evan Koster and associate Juan Moreno investigate the use of aggregated collective action clauses in the recent restructurings of Ecuador and Argentina, describing them as an “important development” in the restructuring process of sovereigns.
23 September 2020
African Minerals Limited: using a scheme to unlock value for all creditors
Partner Richard Hornshaw and counsel Tom Laidler from Akin Gump Strauss Hauer & Feld’s London litigation team discuss how a Cayman litigation trust and an English scheme were used to get around creditor differences on pursuing significant litigation, in the context of the administration of an iron ore miner in Sierra Leone.
22 September 2020
Argentina’s quest for the moral high ground: the road ahead
In the final part of his feature examining Argentina’s strategy in its recent debt negotiations with bondholders, Steven Kargman of Kargman Associates looks at what lies ahead for the country as it prepares for a fresh round of negotiations with the IMF. Kargman asks whether the country will be able to develop a sustainable economic strategy for the coming years, or whether it will continue to lurch from one economic (and sovereign debt) crisis to another.
17 September 2020
Argentina’s quest for the moral high ground: the professoriate weighs in
In the third part of his feature examining Argentina’s “quest for the moral high ground” in its recent restructuring negotiations, Steven Kargman of Kargman Associates looks at the role played by some of the world’s leading academics and Argentina’s position on debt sustainability and collective action clauses.
16 September 2020
Covid-19 calls: Goodwin partner Simon Thomas in London
Featured in Covid-19 calls
Simon Thomas, a partner at Goodwin’s financial restructuring practice in London, compares the current covid-19 related crisis to the global financial crisis, and discusses the legacies it will leave behind: from debt and high taxation, to fraud, and innovation.
15 September 2020
Argentina’s quest for the moral high ground: challenges during a pandemic
In the second instalment of his four-part feature, Steven Kargman of Kargman Associates begins his exploration of the “three P’s” relied on by Argentina during its recent restructuring negotiations, focusing on the roles played by the covid-19 pandemic and the Pope.
15 September 2020