Features

Sovereign debt: the natural order of things

Trying not to upset the natural order of things is an approach that applies well to the world of sovereign debt restructuring. In his third column for GRR, partner Andrew Shutter at Cleary Gottlieb Steen & Hamilton in London, discusses what “the natural order of things” means in respect of who gets paid first in a sovereign restructuring situation.

07 June 2016

WASHINGTON, DC: Trends in US cross-border cases, Chapter 15, UNCITRAL and the EIR

A recent panel in the US grappled with the fate of Chapter 11 and Chapter 15 cases involving non-US entities, in the wake of the dismissal of Bahamian resort Baha Mar’s Chapter 11 filing in Delaware.

07 June 2016

Many ways of standing still

Nick Lister, a senior associate at Allen & Overy in London, discusses how the Ukrainian steel and mining business Metinvest imposed a moratorium on noteholder action through an English scheme of arrangement – and ponders some of the jurisdictional issues that could face other scheme users in future.

07 June 2016

WASHINGTON, DC: Cross-border group insolvency laid bare

What restructuring options are open to a multinational fashion retailer facing trouble from lawsuits in Canada and the US over a problematic, see-through garment? A group of top female insolvency lawyers laid out the different routes available at a conference in Washington, DC.

07 June 2016

Anticipated legislative reforms in the Middle East

Clifford Chance partner Adrian Cohen and senior associate Melissa Coakley offer an overview of the push for insolvency and restructuring reform in the Middle East

07 June 2016

Europe column: OHADA and the EU

Bob Wessels, professor emeritus of international insolvency law at the University of Leiden, discusses the recent adoption by 17 African countries of a harmonised insolvency framework based on the UNCITRAL Model Law, and compares it to the EU’s current policy of “creeping” convergence.

07 June 2016

BOOK REVIEW: Resolution and Insolvency of Banks

Simon Gleeson, a partner at Clifford Chance in London, reviews Michael Schillig's 2016 book Revolution and Insolvency of Banks, and says its breadth reminds us that the list of policy tools available for dealing with failing banks has never been longer.

07 June 2016

LONDON: On discovery and asset recovery

Freezing injunctions and the extraterritorial application of the UK Insolvency Act’s section 236 were the focus of an evening seminar hosted by 9 Stone Buildings chambers in London last month, which looked at cross-border discovery and asset recovery in insolvency proceedings before the UK courts.

07 June 2016

Asset recovery column: limitations to claims and relief in cross-border insolvencies

In their third column for GRR, founding member Ed Davis and partner Annette Escobar of Astigarraga Davis in Miami look at two key limitations to asset recovery in cross-border insolvency cases under Chapter 15, and suggest ways to get around them.

07 June 2016

Daniel Glosband: An architect of Chapter 15

GRR sat down with Daniel Glosband, one of the primary draftsmen of the US Bankruptcy Code’s Chapter 15, at the ABI’s 34th annual spring meeting in Washington, DC, to discuss recently-proposed amendments to the Chapter, as well as some significant cross-border recognition decisions of the past year.

07 June 2016

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