News

Does the UK have a new “business judgment test”?

Should the growing enthusiasm of the English courts in challenging commercial aspects of cases be a cause for concern? Morrison & Foerster restructuring head Howard Morris, counsel Amrit Khosa and trainee Julia Kotamäki examine the recent cases of subprime lender Amigo Loans and oil company Hurricane Energy, in which the High Court refused to sanction the proposed restructurings.

18 October 2021

SEC harmed public investors, says Hertz counsel

Counsel to car rental company Hertz, which emerged from bankruptcy in June, says the US Securities and Exchange Commission harmed the interests of public investors when it intervened in the company’s share sale last summer.

15 October 2021

Steinhoff’s contested South African scheme set for January hearing

Three weeks after an Amsterdam court confirmed its Dutch composition plan, retail conglomerate Steinhoff has revealed its contested South African scheme has been listed for a week-long sanction hearing in January – while it also faces uncertainty from a pending liquidation application.

15 October 2021

Singapore and Malaysia implement cooperation protocol

Singaporean and Malaysian lawyers have welcomed a “ground-breaking” new protocol on court-to-court communication and cooperation in cross-border insolvency matters between the two countries.

15 October 2021

Gibson Dunn partner absolved of misconduct in Singapore

UPDATED: A Singaporean court has set aside a disciplinary tribunal’s misconduct decision against the head of Gibson Dunn & Crutcher’s local office, dismissing an application by the judicial managers of two subsidiaries of Indian construction company Punj Lloyd.

14 October 2021

Kirkland advising as international tech provider enters restructuring agreement

International network solutions provider Riverbed Technology has brought in Kirkland & Ellis, Alix Partners and GLC Advisors to advise on a restructuring that is set to see investors led by private equity fund Apollo Global Management take ownership of the company.

14 October 2021

Carbon credits: asset and/or liability in restructuring?

Arnold & Porter partners Brian Lohan in Chicago and Maja Zerjal Fink in New York consider the treatment of emissions credits in the financing and restructuring context and suggest unified systems for trading and dealing in them around the world.

14 October 2021

Kirkland adds special situations talent in New York

A week after losing partners in Hong Kong and the US, Kirkland & Ellis has bolstered its New York special situations group with the hire of a long-time in-house lawyer from investment firm King Street Capital Management.

13 October 2021

Baker McKenzie recruits insolvency head in Madrid

Baker McKenzie has hired the former head of DA Lawyers’ restructuring practice to lead its own insolvency offering in Madrid.

13 October 2021

Cayman liquidators of Kuwaiti family group turn to New York for answers

A pair of Cayman liquidators overseeing the winding up of a Kuwaiti family’s investment vehicle are seeking recognition in the US to take discovery from multiple parties including US law firms and international banks, who they believe might shed light on tens of millions of dollars transferred out of the group several years ago.

13 October 2021

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