Moratorium

UK monitors liable for costs of failed Australian recognition request

An Australian court has ordered the UK moratorium monitors of waste oil re-refiner Hydrodec Group to pay costs to a creditor who opposed their failed recognition attempt.

19 November 2021

DLA Piper hires Walkers’ head of restructuring in Ireland

DLA Piper has hired a new head of restructuring for its office in Dublin, which opened its doors in 2019.

11 November 2021

UK bill proposes arbitration scheme for covid rent disputes

Local lawyers speak to GRR about a newly published UK bill that aims to establish a binding arbitration process for commercial landlords and tenants who fail to reach an agreement on rent arrears caused by coronavirus.

10 November 2021

Sir David Richards joins One Essex Court

Former English Court of Appeal judge Sir David Richards has joined One Essex Court in London with plans to take appointments as an arbitrator, as he says the growth in cross-border cases has led experts to see arbitration as a sensible way of resolving disputes in restructurings.

08 November 2021

Cayman beauty group’s liquidators obtain emergency US relief

The liquidators of a Cayman Islands beauty products e-commerce company have secured emergency relief from a New York bankruptcy court to freeze funds held in the local payment processing account of one of the company’s former clients, amid an international dispute over who owns the funds.

05 November 2021

What we know (so far) from GCC restructuring reforms

King & Spalding partner Mike Rainey in Dubai examines how recent reforms to the bankruptcy regimes in Saudi Arabia and the UAE are changing local markets – and identifies debt-for-equity swaps, non-performing loan transactions and the sale of healthy parts of a business in the context of restructuring as areas ripe for further development.

05 November 2021

FCA wins appeal over Carillion regulatory action

The UK’s financial regulator does not need court permission to take certain regulatory action against collapsed construction group Carillion, an English High Court judge has ruled.

29 October 2021

Hydrodec Group – reconsidering COMI?

Goodwin partner Simon Thomas and associate Emily Lockhart discuss the key takeaways from a “somewhat curious” recent Australian ruling, which dismissed an application brought by UK-incorporated oil re-refining company Hydrodec Group for recognition of its use of the UK’s new moratorium tool as a foreign main proceeding under the UNCITRAL Model Law.

28 October 2021

Interpath adds from SME adviser Bibby Financial Services

Interpath, the independent advisory firm spun out of KPMG’s restructuring practice, has hired Ben Smith as a director in its debt advisory team, from Bibby Financial Services.

13 August 2021

Dutch cooling-off period extended, unequal treatment permitted

The Court of the Hague has extended a WHOA cooling-off period and permitted unequal treatment of unsecured creditors where it was necessary to make sure Dutch bank Rabobank cooperates with a restructuring plan.

28 July 2021

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