Multinational corporate groups

Judge Christopher Sontchi, who in November announced plans to step down from the Delaware bankruptcy bench to take up a new position on the Singapore International Commercial Court, has described how he is hoping to help the city-state attract more international insolvencies.

25 January 2022

South African retail conglomerate Steinhoff can begin to finally make payments to investors that lost out when its share price collapsed in 2017, after a court in Cape Town sanctioned its former holding company’s scheme.

24 January 2022

New York-headquartered corporate advisory firm M3 Partners has hired a former hedge fund manager who worked on the Nortel Networks and Caesars Entertainment bankruptcies.

23 December 2021

Saudi conglomerate Ahmad Hamad Algosaibi & Brothers has lost its appeal against a Cayman Islands court ruling that found it conspired with its former head of investment to “perpetrate one of the largest Ponzi schemes in history” – bringing an end to over 12 years of litigation.

22 December 2021

China’s Luckin Coffee has secured approval of its scheme of arrangement in the Cayman Islands and a New York court has given the restructuring full force and effect in the US.

17 December 2021

US-headquartered advisory firm FTI Consulting has announced plans to enter the Dutch market with the acquisition of management consultancy Bold Capital Management.

15 December 2021

Stephenson Harwood has launched a new restructuring practice in Paris, hot on the heels of its hire of Wedlake Bell partner Tal Goldmith in London.

10 December 2021

Credit rating agency Fitch has declared Chinese property group Evergrande’s foreign bonds in default after it missed interest payments earlier this week – while a German investor says it will file an insolvency application against the group’s holding company in the Cayman Islands in the next few days.

09 December 2021

Struggling Chinese property group Evergrande has established a risk management committee to help it “overcome the challenges it currently faces” – three days after it revealed plans to engage with offshore creditors on a restructuring plan.

06 December 2021

Global satellite group Intelsat said it has reached settlements with all objecting creditors and shareholders apart from one group of convertible noteholders, which claims advisers that signed off on its amended Chapter 11 plan were conflicted.

06 December 2021