Features
The Cayman Islands’ new restructuring officer regime
In the second article of a three-part series, Harneys partners Chai Ridgers in Hong Kong and Jessica Williams in the Cayman Islands consider the practicalities of the Cayman Islands’ proposed new restructuring officer regime, comparing it to the “light touch” provisional liquidation process that is currently in place – and explain why Asian practitioners in particular should pay attention.
29 June 2022
Heads-Up: Sylwia Maria Bea at Norton Rose Fulbright in Frankfurt
Featured in Heads-Up
The co-leader of Norton Rose Fulbright’s EMEA restructuring group Sylwia Maria Bea discusses the new German insolvency law StaRUG, her role setting up a women-only restructuring association and why ESG considerations should become more widespread over the rest of the year.
14 June 2022
MIE’s “unique” cross-border debt restructuring
Lawyers from Walkers take a step-by-step walk through the “unique” Cayman and US restructuring of Chinese oil and gas company MIE – particularly its novel adoption of an order for the conditional withdrawal of a winding up petition presented by a “friendly creditor” and corresponding discharge of provisional liquidators before the restructuring was completed.
09 June 2022
Cayman restructuring reform and its relevance to the US market
In the first article of a three-part series, Harneys partners Nick Hoffman and Paul Madden and associate Rhiannon Zanetic examine forthcoming changes to the Cayman Islands’ restructuring regime and how they have been designed to work in cooperation with the US Bankruptcy Code and other UNCITRAL Model Law jurisdictions.
31 May 2022
The Model Law on Cross-Border Insolvency: a silver lining but not a silver bullet
On the 25th Anniversary of UNCITRAL's adoption of the Model Law for Cross-Border Insolvency, INSOL International president Scott Atkins and International Insolvency Institute president John Martin explain why it reflects a silver lining but not a silver bullet for modified universalism and harmonisation.
30 May 2022
Luckin Coffee JPLs: “Trust and transparency was key”
Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.
19 May 2022
The new Austrian Restructuring Code in the light of Germany’s StaRUG and the Dutch WHOA
Matthias Stipanitz and Stephanie Rendl at Preslmayr Attorneys at Law in Vienna assess Austria’s implementation of the EU’s preventive restructuring frameworks directive, giving a quick comparison with the implementation in Germany and the Netherlands.
17 May 2022
Second time lucky for Smile Telecoms’ groundbreaking restructuring plan
Partner Mark Fine and senior associate Nicholas Jupp at McDermott Will & Emery in London examine two novel aspects to the restructuring plan that the English High Court sanctioned for African telecoms group Smile earlier this year: its exclusion of out-of-the-money creditors, and the fact it varied the rights of a foreign company’s shareholders.
11 May 2022
European column: Heiploeg judgment – European Commission, your move!
Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, discusses the consequences of a recent judgment from the Court of Justice of the European Union, which is important for pre-pack sales and employees alike – and suggests it should be taken into account in the EU’s next round of harmonisation measures.
09 May 2022
A cross-jurisdictional outlook for restructuring and recovery
Ogier partners Christian Burns-Di Lauro and Ray Wearmouth in the British Virgin Islands, and Mathew Newman in Guernsey, consider whether the outlook is really not so good from a global restructuring perspective, as pandemic-related government support measures come to an end and the geo-political climate brings high inflation and rising energy costs.
27 April 2022