News

Sidley hires new global leader from Kirkland

Stephen Hessler has joined Sidley Austin in New York as the new global leader of its restructuring group, after almost two decades at Kirkland & Ellis where he advised on the Frontier Communications and Windstream Holdings Chapter 11 cases.

06 July 2022

Kirkland advising as Voyager Digital journeys to New York for Ch11

Canadian cryptocurrency brokerage Voyager Digital and two of its US subsidiaries have filed for bankruptcy protection in New York, blaming its woes on the collapse of crypto hedge fund 3AC, one of its largest debtors.

06 July 2022

Weil advising as Scandi flag carrier lands in New York bankruptcy court

Scandinavian flag carrier SAS has jetted to New York to seek Chapter 11 relief after strike action grounded half its fleet.

05 July 2022

Abengoa companies enter pre-insolvency after state aid refused

Spanish engineering conglomerate Abengoa has placed a slew of its companies – including the holding entities for the operating parts of the group – into pre-insolvency proceedings, after a failed bid for state aid scuppered its restructuring plan with an American fund.

05 July 2022

Nevada-based cannabis company continues out-of-court restructuring

A year after it restructured two sets of Canada-listed debentures, US cannabis producer Flower One has restructured its term debt and agreed to defer payments owed on an equipment lease to give it access to more liquidity.

05 July 2022

Weil and Kremer Levin partners appointed SDNY bankruptcy judges

Partners from Weil Gotshal & Manges and Kramer Levin, who between them have credits on the Chapter 11 restructurings of Washington Mutual bank, airbag maker Takata and drug manufacturer Mallinckrodt, will be appointed as bankruptcy judges in New York in the coming months.

04 July 2022

Common law recognition not available for solvent liquidations, Hong Kong court confirms

Mr Justice Harris has granted a trio of Cayman court-appointed provisional liquidators the power to act as agents of a solvent, offshore-incorporated mutual fund in Hong Kong, while clarifying that his recent comments on common law recognition being assessed on COMI grounds are not relevant to solvent liquidations.

04 July 2022

Three Arrows Capital’s BVI liquidators seek Chapter 15 recognition

The British Virgin Islands joint liquidators of cryptocurrency hedge fund Three Arrows Capital have sought recognition in New York to stop US litigation and preserve the fund’s assets, just three days after their appointments.

04 July 2022

Heads-Up: Luc Despins and Kris Hansen at Paul Hastings in New York

Featured in Heads-Up

The co-chairs of Paul Hastings’ restructuring practice, Luc Despins and Kris Hansen, recently brought to work together when Stroock Stroock & Lavan's restructuring team moved to the firm in March, tell GRR their expectations for the global economy in the next 12 months, why Singapore and the Cayman Islands are emerging jurisdictions for restructuring, and their secrets for good brief writing.

01 July 2022

Irish court annuls Estonian businessman’s bankruptcy for disclosure failure

A day before an Estonian businessman was due to be automatically discharged from bankruptcy in Ireland, a court has annulled the June 2021 order declaring him bankrupt because he did not disclose he was already subject to an Estonian proceeding.

01 July 2022

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