Financial restructuring

Ropes & Gray hires second Kirkland partner in London

Kirkland & Ellis special situations partner Samuel Norris has moved to Ropes & Gray in London – six months after restructuring partner Matt Czyzyk made the same move.

02 December 2020

Dean & Deluca’s fifth Chapter 11 plan gets court approval

Thai-owned gourmet retailer Dean & DeLuca has won court approval for its several-times renegotiated Chapter 11 restructuring plan, after former bankruptcy Judge Kevin Carey helped it reach a mediated settlement with stakeholders.

30 November 2020

Brazilian senate approves long-awaited law

Brazil’s senate has approved a long-tabled bankruptcy law, which is set to introduce cross-border provisions based on the UNCITRAL Model Law to the country’s regime.

27 November 2020

Centerbridge-linked funds set to challenge Steinhoff’s UK scheme

South African retail conglomerate Steinhoff has won court approval to convene two meetings for creditors to vote on its latest English scheme of arrangement – but funds controlled by distressed investor Centerbridge Partners are preparing to oppose it.

26 November 2020

Simpson Thacher, Weil and White & Case announce promotions

Simpson Thatcher & Bartlett and Weil Gotshal & Manges have named new partners in New York, while White & Case has announced promotions in Germany.

25 November 2020

Weil partners join new firms in the US and Hong Kong

Two Weil Gotshal & Manges partners who were also former colleagues at Kirkland & Ellis have departed for Ropes & Gray and White & Case.

24 November 2020

Business rescue not available for foreign companies in South Africa

An Italian construction company has failed to open business rescue proceedings in South Africa, after an appellate court found the process was not open to foreign companies, while also refusing to recognise its Italian restructuring.

23 November 2020

Argentine energy provider amends Canadian restructuring

A Buenos Aires-headquartered power plant producer has modified the terms of a restructuring it is carrying out under the Canada Business Corporations Act, ahead of an upcoming creditors vote.

23 November 2020

Bill Clinton at the ABI: “We need to get back into the tomorrow business”

Former US president Bill Clinton said the country’s federal government needs to provide at least one more round of “significant” investment to deal with the economic consequences of the covid-19 pandemic, as he addressed the American Bankruptcy Institute’s International Insolvency Forum.

20 November 2020

Alvarez & Marsal, Mayer Brown and Chapman Tripp announce promotions

Mayer Brown has promoted partners in London and Singapore, while Alvarez & Marsal has appointed a new restructuring co-head in North America and New Zealand firm Chapman Tripp has announced a new special counsel.

20 November 2020

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