Insolvency
Indian court affirms that plans bind applicants on creditor approval
An Indian appellate court has affirmed that corporate resolution plans are binding on their applicants once a committee of creditors has approved them, in the restructuring of a solar power company.
22 October 2020
Judges appointed in Quebec as Canadian group gets new president
Two restructuring lawyers have been appointed as judges in Quebec, as the Insolvency Institute of Canada revealed one of Thornton Grout Finnigan’s founders as its new president.
21 October 2020
Bremen court reverses German Property Group jurisdiction decision
After competing proceedings in Hanover and accusations waged against its original Görg administrator, the billion-euro insolvency proceedings of a German property investment group that targeted foreign pensioners will be heard in Bremen and managed by BBL Brockdorff.
20 October 2020
Settlement clears way for oil major Noble's Chapter 11 plan
London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.
19 October 2020
White & Case announces new partner promotions
Five lawyers with restructuring experience have been promoted to partners in White & Case's London, New York, Frankfurt and Paris offices, effective from January 2021.
12 October 2020
Kobre & Kim hires Walkers insolvency head in Hong Kong
Kobre & Kim has hired the head of Walkers’ insolvency and dispute resolution group in Hong Kong, a partner with credits in the Saad liquidation and the Winsway restructuring.
08 October 2020
Canadian court upholds anti-deprivation rule
The Supreme Court of Canada has upheld the common law "anti-deprivation" rule that parties cannot enforce contractual provisions triggered by insolvency where they remove value otherwise available to creditors.
07 October 2020
“Open for business”: BVI court approves third party litigation funding
In the first written judgment of its kind, a British Virgin Islands court has approved third party funding agreements for litigation and other liquidation fees and expenses in relation to a multinational Ponzi scheme.
01 October 2020
Bremen court says it lacks jurisdiction to hear German Property Group insolvency
A Bremen court has found it lacks jurisdiction to oversee the insolvency of a German property investment group that targeted foreign pensioners, after the group’s founder challenged its relocation from Hanover and accused its Bremen administrator of sneaking onto the case.
30 September 2020
Abu Dhabi court appoints Alvarez & Marsal as NMC Healthcare’s administrators
NMC Health’s UAE entities have been placed into administration in Abu Dhabi’s financial free zone, after successfully applying for protection against enforcement of debt claims this weekend.
28 September 2020
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