News
RSM hires from Moorfields in London
Former Moorfields Advisory partner Tom Straw has joined RSM in London, bringing with him experience working on the wind down of the UK arm of international toy retailer Toys “R” Us.
04 November 2022
IBA, Miami: valuation advice from the US to Europe
As valuation disputes are expected to become more prevalent in Europe following the introduction of the EU’s preventative restructuring directive, a US lawyer said there is only ever one result if valuation is left to be assessed by a judge: “he or she is going to get it wrong”.
03 November 2022
Locke Lord adds two partners from Dykema in Chicago
Locke Lord has appointed a new leader for its commercial mortgage-backed securities special servicer team and added a creditors’ rights and loan enforcement partner to its Chicago office, from US firm Dykema.
03 November 2022
PwC trio tipped to act as administrators for British online furniture retailer
A subsidiary of online furniture and homeware outlet Made.com has announced it will file a notice of intention to appoint administrators from PwC, after it failed to secure a buyer during a formal sale process it began in September.
03 November 2022
Davis Polk advising as Brazilian engineering giant files Ch15
One of Latin America’s largest engineering groups has sought recognition of its Brazilian restructuring in New York to stay a claim brought by Missouri-headquartered UMB Bank, which is seeking to recover over US$40 million owed under notes that matured last year.
02 November 2022
Linklaters, Haitong hired as another Chinese property developer halts offshore debt payments
Cayman Islands-incorporated, Shanghai-headquartered property developer CIFI Holdings has hired Linklaters and Haitong International Securities Company for advice on a “holistic” restructuring solution, after suspending all payments on its offshore debt.
02 November 2022
DWF hires in Riyadh
London-listed international firm DWF has recruited a new partner in Riyadh from Saudi industrial investments company Dussur, who has credits on several restructurings in the MENA region.
02 November 2022
UK’s highest court considers whether bankrupt has standing to challenge trustee
The UK Supreme Court has been asked to weigh in on whether a bankrupt has standing under Section 303(1) of the Insolvency Act to challenge transactions entered by their trustee, when the relief sought would have no impact on their position within the bankruptcy.
01 November 2022
All eyes on creditor-on-creditor violence, after Boardriders up-tiering decision
US lawyers are watching a burgeoning trend for creditor-on-creditor violence closely, after New York Supreme Court allowed minority lenders to challenge a clothing brand’s priming transaction, which subordinated their debt to a new super-priority facility following allegedly secret refinancing negotiations.
01 November 2022
IBA, Miami: “information is an asset”
As a dispute over property requirements for Chapter 15 debtors heads for a potential circuit clash in Florida, a panellist at the International Bar Association’s annual conference has said information should be reconceptualised as an asset.
01 November 2022