Financial restructuring

III, New York: thought leadership project assesses restructuring responses to covid-19

An International Insolvency Institute panel has presented the results of a thought leadership project it set up in 2020 to assess public and private restructuring responses to the covid-19 pandemic and discuss new ways of dealing with the economic fallout - from government-run emergency restructuring entities, to distressed asset funds underwritten by the public purse.

20 October 2021

Does the UK have a new “business judgment test”?

Should the growing enthusiasm of the English courts in challenging commercial aspects of cases be a cause for concern? Morrison & Foerster restructuring head Howard Morris, counsel Amrit Khosa and trainee Julia Kotamäki examine the recent cases of subprime lender Amigo Loans and oil company Hurricane Energy, in which the High Court refused to sanction the proposed restructurings.

18 October 2021

SEC harmed public investors, says Hertz counsel

Counsel to car rental company Hertz, which emerged from bankruptcy in June, says the US Securities and Exchange Commission harmed the interests of public investors when it intervened in the company’s share sale last summer.

15 October 2021

Baker McKenzie recruits insolvency head in Madrid

Baker McKenzie has hired the former head of DA Lawyers’ restructuring practice to lead its own insolvency offering in Madrid.

13 October 2021

Dechert launches Asia restructuring practice with Kirkland hire

Eight months after adding a new global co-head of restructuring in London, Dechert has hired Kirkland & Ellis partner Daniel Margulies to lead its new Asia restructuring practice and help “capture the growth” in activity in the region.

12 October 2021

Insolvency resolution for non-banking financial companies in India

Following the “path-breaking” restructuring of Dewan Housing Finance Corporation and the ongoing resolution process for Infrastructure Leasing & Financial Services, New Delhi-based Utkal Law Chambers partner Supriyo Ranjan Mahapatra discusses recent trends in the resolution framework for distressed non-banking financial companies in India.

11 October 2021

Latest WHOA decision rules on Biofuel Plant owner’s subordinated debt

A Dutch biofuel plant owner has secured sanction of its WHOA restructuring plan despite objections from the province of Overijssel, which claimed it was wrongly classified as a subordinated creditor.

06 October 2021

Sidley hires Kirkland partner on the East Coast

Preparing for creditor patience to run out and a spike in demand for restructuring lawyers next year, Sidley Austin has recruited a Kirkland & Ellis partner to its New York and Washington, DC offices.

05 October 2021

China Fishery permitted to hold UK restructuring plan meetings

A Peruvian arm of industrial fishing conglomerate China Fishery Group has been allowed to convene two creditor meetings for its UK restructuring plan, while the BVI liquidators of another part of the group have asked a US court to dismiss the Chapter 11 proceedings of a Pacific Andes subsidiary.

01 October 2021

Gibbs trips Prosafe recognition in Scotland

Norwegian vessel operator Prosafe has failed to obtain recognition of its Singaporean moratoria in Scotland, with a Scottish court reasoning they were akin to schemes that the Gibbs rule prevented from binding an English law-governed debt owed to a Chinese shipbuilder.

27 September 2021

Get unlimited access to all Global Restructuring Review content