News

Alabama bankruptcy judge joins Bailey & Glasser in DC

A US judge who presided over the 2011 municipal bankruptcy of Jefferson County, Alabama, has retired from the bench and joined law firm Bailey & Glasser as a partner in Washington, DC.

16 December 2015

Channel Islands courts order cross-border asset pooling for shipping group

Courts in Guernsey and Jersey have ordered an insolvent shipping group to pool the liquidated assets of two companies registered in different isles – the first time a successful cross-border pooling application has been brought in the Channel Islands.

16 December 2015

Not so merry men: theme park directors ordered to pay for wrongful trading

A UK court has issued a rare decision on wrongful trading under the Insolvency Act 1986, ordering two former directors of a Robin Hood-themed tourist attraction to pay compensation to its liquidators.

16 December 2015

ECJ clears up clawback confusion in cross-EU cases

The European Court of Justice recently issued a preliminary ruling on the use of the EU Insolvency Regulation’s article 13 to defend a clawback action, in the case of an insolvent Finnish sports brand and the Dutch arm of Nike.

16 December 2015

MoFo grows London practice as it seeks to set up cross-border hub

Morrison & Foerster has hired two partners in its London restructuring practice, as it seeks to make the office a hub for cross-border work.

16 December 2015

Willkie Farr hires from Paul Hastings in Paris

Willkie Farr & Gallagher has hired partner Lionel Spizzichino from Paul Hastings in Paris.

16 December 2015

Abengoa could become Spain’s largest ever bankruptcy as it files for insolvency

Spanish renewable energy company Abengoa has begun insolvency proceedings in a Seville court and hired Linklaters as counsel, as minority shareholders demand compensation from the group for not informing them of its plans.

16 December 2015

Brazil’s Lupatech gets nod for second global group restructuring

Creditors of Brazilian oil logistics company Lupatech Group have agreed to the terms of the company’s new restructuring plan, its second in as many years.

16 December 2015

Italy speeds through bank rescue plan before EU rules apply

Italy has announced emergency plans to restructure four “bad banks”, weeks before new European bank rescue regulations come into force.

16 December 2015

Canadian steelmaker crumples under global supply pressure

Canada’s Essar Steel Algoma has filed for bankruptcy protection in US and Canadian courts, just eight months after exiting a restructuring process filed last year and in the midst of a civil action by a raw material supplier.

16 December 2015

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