News
Heads-up: Allen & Overy’s Katrina Buckley in London and Sigrid Jansen in Amsterdam
Featured in Heads-Up
The co-heads of Allen & Overy’s global restructuring practice, Katrina Buckley in London and Sigrid Jansen in Amsterdam, discuss the need for a workable stay to support the UK’s Part 26A plan, and how new restructuring procedures across Europe have decreased holdout creditors’ power.
21 September 2023
Deloitte and international firms drive KBBO case to sanction in Abu Dhabi
Trustees from Deloitte working with local and international counsel have helped investment group KBBO secure court sanction of the first major restructuring in the UAE under its 2016 Bankruptcy Law, in a case that included super senior money financing from UK investment manager Fidera.
21 September 2023
Purdue releases not authorised by Bankruptcy Code, US Trustee says
In a much-anticipated brief filed with the US Supreme Court, the US Trustee has argued that third-party releases granted to Purdue Pharma’s non-debtor owners are not authorised by the Bankruptcy Code.
21 September 2023
Greensill’s German and UK administrators go head to head over €40 million fund
Administrators can make Part 36 settlement offers under the UK’s Civil Procedure Rules in the context of a directions application, an English judge has ruled, in a case that reveals a dispute between Greensill’s UK and German officeholders over a €40 million fund.
20 September 2023
All female boutique expands in Cayman
A year after it launched in the Cayman Islands, all female insolvency, litigation and regulatory boutique Claritas has expanded with the addition of a former barrister who previously worked at Walkers in Singapore.
20 September 2023
Baker & Partners brings in new partner to grow BVI offering
A cross-border civil fraud and asset-recovery specialist has joined Baker & Partners in the British Virgin Islands, after working for the firm as a consultant for two months.
20 September 2023
Sunac seeks US recognition after Hong Kong scheme approval
Chinese real estate developer Sunac has sought Chapter 15 recognition in New York, one day after creditors voted to support a Hong Kong scheme dealing with US$9 billion of its offshore debt.
19 September 2023
IWIRC reveals Asia Women of the Year for 2023
The International Women's Insolvency and Restructuring Confederation has named Nishimura & Asahi partner Yuri Sugano as its Asia Woman of the Year in Restructuring for 2023, at its first international conference outside North America.
19 September 2023
UAE bank turns to UK after Abu Dhabi court declares personal guarantees unenforceable
The English High Court has been asked to consider whether it can enforce two UAE judgment debts that became unenforceable in Abu Dhabi when a recent law limiting the use of personal guarantees was applied retroactively.
19 September 2023
HK court reaffirms COMI approach as ex-director challenges liquidators in the BVI
A Hong Kong court has granted interim relief to the local, COMI-appointed liquidators of China Properties Group against opposition from an ex-group director who claimed it would interfere with the jurisdiction of the courts in the British Virgin Islands, the place of incorporation of some of the group’s subsidiaries.
18 September 2023