News
Walkers secures first Cayman restructuring officer appointment
Walkers has secured the first ever appointment of restructuring officers in the Cayman Islands under the offshore jurisdiction’s new regime.
14 November 2022
UK energy suppliers’ officeholders secure directions on novel issues
UK energy companies who take responsibility for a failed supplier’s customers can claim back any credit balances they assume from its insolvent estate, according to a decision handed down by Mr Justice Zacaroli that has clarified a whole host of previously unresolved legal issues for the officeholders of 10 collapsed suppliers.
14 November 2022
Europe column: COMI and ascertainability by third parties
Bob Wessels comments on Lord Justice Lewison’s concurring opinion in the recent English Court of Appeal centre of main interests decision in East-West Logistics v Melars Group.
14 November 2022
Jefferies hires London co-heads from Rothschild and Lazard
New York-headquartered investment bank Jefferies is expanding in London with former co-heads of restructuring for the EMEA region from Lazard and Rothschild & Co.
14 November 2022
Crypto’s “Lehman” moment? FTX enters Chapter 11 after filings in Bahamas and Australia
The world’s second largest cryptocurrency institution FTX has filed for bankruptcy protection in the US after a tumultuous week, with lawyers expecting fresh regulation for digital assets among what some are calling crypto’s “Lehman” moment.
11 November 2022
INSOL at 40: president Scott Atkins discusses INSOL’s future plans as it hits a milestone age
INSOL International turned 40 this year and is using the opportunity to reimagine itself so it is still relevant in decades to come. GRR caught up with INSOL’s president Scott Atkins, global co-head of restructuring at Norton Rose Fulbright in Sydney, to talk about the association’s new 2030 strategy and how it is reframing itself from a regular membership organisation to a group with a broader societal impact, at a time when the global economic environment points to significant disruption.
11 November 2022
Hong Kong court sanctions guarantor’s scheme, ditches deed of contribution requirement
A Hong Kong court has sanctioned a guarantor’s scheme of arrangement for the first time, noting that it preferred the Singaporean approach to guarantor’s schemes over the English one, which usually requires a deed of contribution to establish “ricochet” claims between borrower and guarantor to discharge the third-party borrower’s debts.
11 November 2022
Fried Frank partner joins Jones Day in New York amid latest promotions round
Jones Day has recruited a longtime Fried Frank Harris Shriver & Jacobson partner who advised fashion brand Jack Wills on its pre-packaged sale to British retail giant Sports Direct – and announced partnership promotions for four of its US restructuring lawyers.
10 November 2022
E-House’s Cayman scheme sanctioned, US recognition set for next week
Chinese real estate services provider E-House has obtained court sanction of a Cayman scheme restructuring US$600 million in notes, a week after it secured creditor approval.
10 November 2022
Mediation agreed after judge blocks California from cutting clinic operator’s funds
California’s health authority has agreed to mediate with a struggling clinic operator and its unsecured creditors, two weeks after a US bankruptcy judge called it out for threatening to put the lives of Californian citizens at risk.
10 November 2022