Insolvency

Enyo hires from Eversheds following Greensill’s UK recognition

Just weeks after helping the German administrator of Greensill Bank secure recognition in the UK, Eversheds Sutherland partner Jamie Leader has left the firm for Enyo Law.

26 April 2021

Greensill and Archegos losses lead to Credit Suisse class action

Credit Suisse is facing a proposed class action in New York over allegations it hid defects in its risk policies so it could extend excessive leverage to scandal-hit trade finance provider Greensill and family office Archegos Capital – exposing it to billions of dollars of losses.

20 April 2021

Chinese-backed GreatStar Europe acquires insolvent German toolmaker

Teams from Heuking Kühn Lüer Wojtek, Hengeler Mueller and numerous other firms have helped insolvent German toolmaker Joh Friedrich Behrens sell its international business operations to a subsidiary of Chinese-backed tools manufacturer GreatStar Europe.

20 April 2021

JŠK hires from Clifford Chance in Prague

Czech corporate boutique JŠK has recruited the chair of INSOL Europe's Academic Forum from Clifford Chance in Prague.

19 April 2021

New jurisdictional framework for actions "closely linked" to EU insolvencies

To help avoid time-consuming and costly jurisdictional disputes, the European insolvency law thinktank CERIL has created a framework for EU practitioners and courts to identify the kinds of actions that qualify “as deriving directly from insolvency proceedings” under Article 6(1) of the recast European Insolvency Regulation.

16 April 2021

MoFo advising as Wirecard seeks US recognition

The German administrator of scandal-hit payment processor Wirecard has asked a Pennsylvania court to recognise its Munich-based insolvency and to block securities litigation pending in the US.

12 April 2021

IBA releases toolkit on insolvency and arbitration

The International Bar Association has released a toolkit providing guidance for when a party to an arbitration is subject to insolvency proceedings.

08 April 2021

Interim recognition in Australia for Greensill Bank administrator

Greensill Bank’s German insolvency administrator has obtained interim recognition in Australia and has used Eversheds Sutherland to make a similar application in the UK.

07 April 2021

Community roundup: Shearman & Sterling, Kroll, FTI Consulting and EY

Shearman & Sterling has continued its London expansion while FTI Consulting has strengthened its Madrid and Abu Dhabi offices, Kroll has promoted four new managing directors in the UK, and EY has hired in Bermuda.

01 April 2021

Greensill enters provisional liquidation in Singapore

Greensill’s Asia arm has entered provisional liquidation in Singapore, following the finance group’s UK and Australian administration proceedings, German insolvency filing and US Chapter 11.

30 March 2021

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