News

US Supreme Court denies review of Lehman creditor’s “customer” claim

The US Supreme Court has denied a writ of certoriari to a UK-based investment fund for a claim against Lehman Brothers, effectively barring it from the advantaged status of “customer” and the privileges that come with it.

03 March 2016

ECJ settles 22-year wage dispute over insolvent Maltese ship

The European Court of Justice has found that seven Greek sailors who worked for a Maltese cruise ship company that went bankrupt before Malta entered the EU, are still protected by EU law - ending a 22-year wage dispute that pitched an EU directive against Greek domestic law and the UN Convention for the Law of the Sea.

03 March 2016

US affiliates of German energy company file Chapter 11 case in Louisiana

Two US affiliates of a German energy company have filed for Chapter 11 restructuring in Louisiana, as their parent faces potential liquidation under the aegis of a court in northern Germany.

03 March 2016

White & Case poaches HSF China restructuring head

White & Case has hired Herbert Smith Freehills’ restructuring head for Greater China as a partner in its Hong Kong office.

03 March 2016

UK court recognises luxury hotel owner's BVI liquidation

A UK court has recognised liquidation proceedings commenced in the British Virgin Islands against luxury hotel owner Peak Hotels, through which China’s Jinpeng Group is seeking to recover a US$35 million debt.

02 March 2016

Community round-up: International laterals and Midwest moves

Jones Day, White & Case, Travers Smith and domestic US firm Dykema have all poached restructuring talent from rival firms in recent weeks, while former Detroit bankruptcy judge Steven Rhodes received a new municipal appointment.

02 March 2016

Pillsbury practice head hands reins to successor

US firm Pillsbury Winthrop Shaw Pittman has announced that a New York partner will succeed David Minnick as firm-wide leader of its insolvency and restructuring practice.

02 March 2016

Guernsey proposes insolvency law reforms

The government of Guernsey has published the results of a consultation on how it might reform its insolvency laws – with an overwhelming majority of respondents supporting the proposal that Guernsey’s Royal Court should have jurisdiction to wind up foreign companies.

01 March 2016

Former Anglo Irish Bank chief dismisses legal team in continued US bankruptcy bid

The former chief executive of Anglo Irish Bank, David Drumm, has fired his legal team and will represent himself as he seeks to appeal a second rejection to file bankruptcy in the US.

01 March 2016

Argentina reaches settlement with NML Capital

Argentina has reached a US$4.63 billion settlement with holdout creditors led by the US hedge fund NML Capital, bringing an end to a 15-year-long dispute that locked South America’s second-largest economy out of international capital markets.

01 March 2016

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