News

Abengoa reaches “standstill” deal with creditors

Renewable energy multinational Abengoa has reached an eleventh hour deal with creditors, avoiding becoming Spain’s largest-ever bankruptcy for the time being.

29 March 2016

Florida litigator appointed US federal bankruptcy judge

Roberta Colton, Tampa-based shareholder of Florida firm Trenam, has been appointed to a bankruptcy seat in the Middle District of Florida, with a duty station in Orlando.

29 March 2016

Guernsey court rejects contempt claim against Grant Thornton restructuring partner

The Royal Court of Guernsey has dismissed a contempt of court claim against restructuring partner Stephen Akers of accountancy firm Grant Thornton, brought by property mogul Robert Tchenguiz over an alleged breach of confidentiality that the mogul claims led to his arrest in 2011.

24 March 2016

White & Case hires Bracewell restructuring partner

White & Case has hired Robert Burns as a partner in its global financial restructuring and insolvency practice in New York.

24 March 2016

EU launches public consultation on common insolvency framework

The European Commission yesterday kicked off a 12-week consultation on the establishment of an EU-wide insolvency framework, following the publication of an initial inquiry into insolvency law harmonisation earlier this month.

24 March 2016

French tech plant sold to “insolvent” entity appeals forum non conveniens ruling in US

A French manufacturing plant that claims its US former owner sold it off to an insolvent entity to avoid restructuring costs, has asked a US appeals court to reopen its case previously dismissed from New York on grounds of forum non conveniens, in light of new evidence arising in French courts.

23 March 2016

Community round-up: US domestic hires and promotions

US firm Shipman and Goodwin has hired a new partner with cross-border restructuring experience in its newly-opened New York City office, Detroit-based Miller Canfield Paddock and Stone has added new and returning talent across its Michigan and Chicago offices, and Fried Frank Harris Shriver & Jacobson has announced its spring promotions round.

23 March 2016

FSB calls for faster progress to harmonise resolution regimes

A report by the Financial Stability Board (FSB) has highlighted the need for consistency and reform across different jurisdictions' resolution regimes to reduce risks associated with “too-big-to-fail” financial institutions.

22 March 2016

UK Court waves through subsidiary’s repayments to Lehman Luxembourg

Repayments from insolvent Lehman Brothers UK Holdings to its Luxembourg parent should be at the latter’s free disposal and should not be held in trust, the UK High Court has ruled.

22 March 2016

German court finds Greek debt claims inadmissible

The German Federal Supreme Court has found claims by German bondholders seeking damages as a result of the 2012 Greek debt restructuring inadmissible under German law, on the grounds that Greece has sovereign immunity.

22 March 2016

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