Features

Venezuela’s debt restructuring: predictable uncertainties – part 2

In the second part of his feature examining the “predictable uncertainties” in any eventual restructuring of Venezuela’s debt, Steven Kargman of Kargman Associates looks at the role China and Russia have to play as major bilateral creditors of Venezuela, and details the importance of oil price projections for any future debt sustainability analysis.

11 June 2020

Covid-19 calls: GLAS Group president Mia Drennan in London

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Mia Drennan, president and founder of the global administrative agency and trustee services firm GLAS Group, says the post-covid-19 financial crisis has caused a rise in rapid, round-the-clock and weekend work on transactions. At first her firm met demand for drawdowns, then emergency funding requests and later for more complex restructurings: GLAS has since battened the hatches for a “long cycle”.

10 June 2020

Venezuela’s debt restructuring: predictable uncertainties – part 1

In the first of a two-part feature, Steven Kargman, founder and president of the eponymous New York-based international restructuring advisory firm Kargman Associates, examines the “predictable uncertainties” that will be key to any future Venezuelan debt restructuring.

10 June 2020

Covid-19 calls: Look Chan Ho of Des Voeux Chambers in Hong Kong

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Look Chan Ho of Des Voeux Chambers in Hong Kong tells GRR about two recent judgments recognising Mainland liquidations in Hong Kong, and his hopes that courts in the Mainland will reciprocate. He says local judges are also using an uptick in the number of defaults to increase calls to introduce a provisional liquidation regime.

05 June 2020

Substantive consolidation in the upcoming Brazilian Bankruptcy Law reform

Partner Fabiana Solano and associate Thiago Dias Costa at Felsberg Advogados in Saõ Paulo discuss new rules on substantive consolidation of debtors’ assets in the draft bankruptcy bill pending before Brazil’s Congress. While the new rules offer a clear improvement to the current regime, the authors argue the terms under which they are proposed to apply may result in different interpretations and ongoing uncertainty.

20 May 2020

Covid-19 calls: Sumant Batra at Kesar Dass B & Associates in India

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Kesar Dass B & Associates’ head of insolvency and corporate law, managing partner Sumant Batra in New Delhi, explains why all insolvency stakeholders need to switch gears to focus on the Indian economy as covid-19 lockdowns for labour disrupt industries. He speaks of the challenges that a suspension of India’s new Bankruptcy Code is bringing to its nascent restructuring and insolvency profession.

15 May 2020

Covid-19 calls: Robert van Galen at NautaDutilh in Amsterdam

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“Insolvency legislation on its own will not do the trick.” GRR speaks to NautaDutilh partner Robert van Galen in Amsterdam, the Dutch representative to UNCITRAL Working Group V and a past president of INSOL Europe, who says the Netherlands’ new restructuring law will solve some of the problems presented by the covid-19 pandemic, and explains why it's important the European Union remains united through the crisis.

12 May 2020

Covid-19 calls: FHB co-founder Hélène Bourbouloux in Paris

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“The first week was like a big storm.” Hélène Bourbouloux, the managing partner and co-founder of French boutique FHB, discusses how the pandemic could lead to the modernisation of France's insolvency regime, how private equity and hedge funds could provide solutions for struggling companies, and why she thinks the European Commission should relax its competition regulations.

07 May 2020

The world’s “most iconic” gym seeks Chapter 11 workout

International fitness chain Gold’s Gym is seeking Chapter 11 protection in Texas, claiming the covid-19 pandemic has left it unable to collect membership or ordinary franchising fees.

05 May 2020

Circumventing arbitration via a winding-up petition

After a long-awaited ruling by the Singapore Court of Appeal, Debby Lim of restructuring and insolvency boutique BlackOak and Arvin Lee of Wee Swee Teow in Singapore consider how creditors may seek to circumvent an arbitration agreement by means of a winding-up petition and how a debtor can combat such moves.

01 May 2020

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