News

GRR’s Women in Restructuring 2023 survey has found that the roll-out of flexible working practices brought in by the covid pandemic had a positive impact on women’s equality and diversity in the restructuring sector – though opinions were divided based on location and seniority.

01 June 2023

Two years and three plans down, Brazilian miner Samarco, its shareholders and creditors have finally reached a binding restructuring agreement that will need to be approved by a Brazilian bankruptcy court and recognised in New York.

01 June 2023

A Kentucky entity set up by Australia-based businessman Kenneth Wikeley has been reprimanded for violating a Chapter 15 stay obtained by liquidators appointed over the trustee of his family trust, which has been accused of fraud by a purported investor.

01 June 2023

Cash-strapped cash machine manufacturer Diebold Nixdorf has signed a restructuring support agreement with key creditors, as it set its sights on finishing a pre-packaged Chapter 11 and Dutch scheme within 80 days, with help from Jones Day and Jackson Walker.

31 May 2023

Purdue Pharma’s restructuring plan has been reinstated after a lengthy appeal – but the Second Circuit, conflicting with the Third Circuit, found the bankruptcy court that originally authorised the plan lacked constitutional authority to enter a final order approving releases for its non-debtor owners.

31 May 2023

O’Melveny & Myers’ former US restructuring co-chair has joined Gibson Dunn & Crutcher in New York, just over a month after O’Melveny recruited one of Gibson Dunn’s partners in London.

31 May 2023

The UK’s largest door-to-door pay day lender has secured sanction of its English scheme to deal with redress claims from 636,000 potential claimants.

30 May 2023

Hong Kong Airlines has been ordered to hold HK$56.3 million on trust after failing to convince a Hong Kong court that a construction group’s claim for breach of contract against it was discharged when the airline’s dual Hong Kong-UK restructuring became effective last month.

30 May 2023

The bankrupt former owner of Russia’s Vneshprombank has again asked an English Court to let him sell two London properties for his legal and living expenses, as his Moscow-based bankruptcy trustee tries to block the deal ahead of a UK Supreme Court hearing in November.

30 May 2023

Shareholders who hoped to block the restructuring of shipping group Vroon have failed in their attempt, after courts blessed the interlinked Dutch WHOA plan and English scheme within hours of each other today.

26 May 2023