Ares sued for ‘rigged’ sale of LATAM’s aircraft

A global investment manager is being sued for the second time in three years for allegedly implementing a “sham foreclosure sale” of a bankrupt airline's aircraft.

12 September 2023

Mayer Brown expands in London

A former Morgan Lewis partner with a focus on secured transactions, asset-based lending and supply chain financing has joined Mayer Brown’s London team.

12 September 2023

INSOL Tokyo: Atkins’ term extended as focus turns to 2030 plan’s implementation

INSOL International’s president Scott Atkins is extending his term to see through a strategic plan launched last year to reimagine the organisation to 2030. In his opening remarks at INSOL’s first annual conference in Japan, he said the plan’s implementation had “rapidly advanced”, announcing two new regional advisory councils and a soon-to-be-launched ThinkTank.

12 September 2023

McDermott International to file parallel UK-Dutch restructurings with Ch15 in US

Three years since Houston-headquartered oil and gas engineering group McDermott International exited a pre-packaged Chapter 11, it has entered an agreement with creditors and bank lenders that will see its UK subsidiary launch an English restructuring plan and two Netherlands entities pursue WHOA proceedings.

11 September 2023

Singapore court approves priority status for liquidation funding creditors

A Hong Kong-based supplier and a Cayman Islands fund have secured an order in Singapore giving them priority over other creditors of an international commodities trader, after agreeing to finance the company’s liquidation.

11 September 2023

Crypto-focused partner joins Appleby in BVI

Appleby has hired a new partner from Ogier who has been providing counsel to the liquidators of multi-billion-dollar crypto hedge fund Three Arrows Capital in the British Virgin Islands.

11 September 2023

Lenders take over Celsa Group amid shareholder objections

Following months of valuation disputes, a Barcelona court has sanctioned Spanish steelmaker Celsa’s creditor-proposed restructuring plan using a new cramdown mechanism, in what is the first non-consensual restructuring under Spain’s recently reformed insolvency law.

08 September 2023

Failed SPAC seeks Cayman liquidation as New York litigation looms

The voluntary liquidators of a failed SPAC that is facing a class action in New York have asked a Cayman Islands court to appoint them as official liquidators and supervise the company’s winding up.

08 September 2023

Kirkland & Ellis partner departs for Katten in Chicago

After an eight-year stint at Kirkland & Ellis, partner Joshua Altman has joined Katten Muchin Rosenman’s office in the Windy City.

08 September 2023

Judge Carey to mediate in TV Azteca forum dispute

Former Delaware bankruptcy judge Kevin Carey has been appointed to act as mediator in a forum dispute between Mexican broadcaster TV Azteca and a group of its international creditors that are trying to place it into a Chapter 11 process.

07 September 2023

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