Loans & secured financing

Colorado Ch15 planned as construction group files in Canada

A US subsidiary of Calgary-based construction company Nilex has been dragged into Canadian bankruptcy proceedings by its parent to sell its US assets, with the group revealing plans to seek Chapter 15 recognition of the sale in Colorado.

30 November 2022

Irish lessors lose latest round in fight to overturn Garuda’s restructuring plan

Two Irish lessors fighting the US$9.5 billion restructuring of Indonesia’s national airline have failed to wind up the company in Australia after a judge in Sydney found it is "immune" from the jurisdiction of the Australian courts.

28 November 2022

Freshfields advising Naftogaz as one tranche of bondholders agrees deferral deal

Freshfields Bruckhaus Deringer has advised Ukrainian state-owned natural gas company Naftogaz on a deal reached with one tranche of Eurobond holders to defer repayments for two years – but negotiations with two more tranches are ongoing.

05 September 2022

US relief sought in nine more 1MDB-linked offshore liquidations

Less than a week after Malaysia’s former Prime Minister Najib Razak was ordered to begin a 12-year prison sentence for fraud linked to the 1MDB sovereign wealth fund, the liquidators of nine more offshore investment vehicles believed to be linked to the fraud have filed for recognition in Miami.

01 September 2022

Walkers advising as another crypto investor seeks winding up in Cayman

The Cayman voluntary liquidators of a holding company for a group of cryptocurrency investors have asked a local court to take over supervision of the case, after its director failed to sign a declaration of solvency.

11 July 2022

Holland & Knight advises as BVI fund targets Delaware borrower

The liquidators of a British Virgin Islands fund have lodged a breach of contract claim against Delaware-registered borrower Tremont International in New York, where they secured Chapter 15 recognition in 2019.

27 May 2022

Fieldfisher taps CMS partner and team to develop Düsseldorf practice

Fieldfisher has hired a CMS partner who advised on sex shop chain Beate Uhse’s restructuring, and his team of three associates, to build out the firm’s practice in Düsseldorf.

11 April 2022

Singapore appeal court rules on fresh security as a transaction at an undervalue

Granting fresh security for an existing debt does not constitute a transaction at an undervalue in principle – but granting it for a third-party debt may do so, the Singapore Court of Appeal has found, addressing the issues in the jurisdiction for the first time.

29 March 2022

Brazilian agribusiness group files Chapter 15

Three affiliates of Brazilian sugar and alcohol producer USJ Group have filed for Chapter 15 recognition of a restructuring plan approved in Brazil last month.

28 March 2022

GLAS hires former Greensill general counsel and VP

Debt administration services group GLAS has expanded in the US, hiring a lawyer and fintech specialist from insolvent trade finance group Greensill.

03 February 2022

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