News

UK court gives Nortel administrators final call on distributions

The UK High Court has, for the first time, delivered guidance on distributions during the administration of non-UK companies.

17 December 2015

UK court diverges from MF Global on extra-territoriality

Departing from the England & Wales High Court’s recent decision in MF Global, a regional court in the UK has ruled that the Insolvency Act 1986 can be used to order production of documents overseas, permitting the receiver of a wound-up UK pension scheme trustee to seek evidence from Hong Kong.

17 December 2015

Lehman on the hook for $1 billion over failed Intel share deal

A US bankruptcy court has held that Lehman Brothers owes over US$1 billion to Intel Corporation after a failed share repurchase deal.

17 December 2015

US court says NY law bonds count as property in Chapter 15 case

Widening the door for more non-US companies to seek recognition of cross-border bankruptcies in New York, a US bankruptcy court has found that New York choice of law and forum selection clauses in a Singaporean company’s indentures satisfied the Second Circuit’s much-criticised US property requirement for a Chapter 15 filing.

17 December 2015

Linklaters hires new practice head

Linklaters has hired a new head of restructuring and insolvency in New York from Willkie Farr & Gallagher.

17 December 2015

Chinese lender appoints receiver in Baha Mar foreclosure

Export-Import Bank of China has appointed a receiver in the foreclosure of a US$3.5 billion Bahamian resort, weeks after it was denied bankruptcy protection in the United States.

16 December 2015

Kirkland & Ellis adds new partner in Hong Kong

Kelly Naphtali has left Lipman Karas to join Kirkland & Ellis as a partner in Hong Kong.

16 December 2015

Insolvency litigator joins Corrs Chambers Westgarth as special counsel

Australian firm Corrs Chambers Westgarth has appointed Michelle Dean as special counsel in its Perth office.

16 December 2015

Asian-focused gold miner files for bankruptcy in Canada

Canadian mining company Besra Gold has filed for protection under Canada’s Bankruptcy and Insolvency Act (BIA), as it seeks to restructure its gold mining operations in Vietnam and Malaysia.

16 December 2015

ECB not liable for losses from Greek debt restructuring

An EU court has dismissed claims by a group of bondholders against the European Central Bank over the Greek sovereign debt restructuring of 2012, ordering them to pay costs and ruling that their losses were a normal consequence of making an obviously risky investment.

16 December 2015

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