Multinational corporate groups

Crédito Real Ch11 moves to Delaware

Shadow bank Crédito Real has won a New York court’s approval to transfer its involuntary Chapter 11 case to Delaware, where it sought recognition of its Mexican liquidation last month.

02 August 2022

Paul Weiss, PJT and A&M advising as Revlon falls into bankruptcy

Multinational cosmetics group Revlon has sought Chapter 11 protection in New York, blaming supply chain disruption and rising inflation.

16 June 2022

Host of global firms advise as Chinese oil group completes “unique” restructuring

Chinese oil company MIE Holdings has completed a global restructuring using a Cayman scheme and a Chapter 15 filing in New York – along with a novel order that conditionally discharged its joint provisional liquidators before the restructuring was completed.

14 April 2022

Smile Telecoms secures landmark sanction

Mauritius-registered telecoms group Smile Holdings has won sanction of its restructuring plan, after the English High Court found it had jurisdiction to alter the constitution and share capital of the company without the need for a parallel plan in its place of incorporation.

30 March 2022

Smile seeks sanction of latest plan amid creditor complaints

African telecoms group Smile Telecoms has asked the High Court in London to sanction its second restructuring plan in a year, arguing the plan is likely to be effective in its key jurisdictions of Mauritius, Nigeria and South Africa.

10 March 2022

China’s Modern Land enters RSA, Evergrande accused of criminal conduct

Beleaguered Chinese property developer Modern Land has announced plans to file a restructuring scheme in the Cayman Islands and seek recognition of it in the US, while an Evergrande creditor has lodged a criminal complaint against the real estate giant.

01 March 2022

Smile restructuring plan delayed as creditor challenges valuations

A senior lender to African telecoms group Smile Telecoms has raised last-minute valuation issues with the company’s restructuring plan, despite the English High Court finding it was out of the money last month.

28 February 2022

Pacific Andes wins Ch11 plan confirmations

Two groups of companies that sit within industrial fishing conglomerate Pacific Andes have secured Chapter 11 plan confirmations in New York, after agreeing to remove third-party releases.

17 February 2022

Mallinckrodt to enter Irish examinership after US plan approved

American-Irish pharmaceuticals manufacturer Mallinckrodt will file examinership proceedings in Dublin in the coming days, after the Delaware bankruptcy court approved its Chapter 11 plan to slash about US$1.3 billion in debt.

04 February 2022

Paul Weiss hires “incredible asset” from Lazard in New York

Lazard managing director Ken Ziman has joined Paul Weiss Rifkind Wharton & Garrison as a partner in New York, bringing with him experience working on the debtor side of the PG&E and Takata mass tort bankruptcies.

28 January 2022

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