News

Eversheds advising as HSBC chases defaulting Chinese developer

HSBC is seeking to recover millions of dollars from struggling Chinese property developer Fantasia Holdings after accusing it of defaulting under the terms of an interest rates swap agreement.

11 January 2022

Promotions round-up: new year, new partners

Jones Day, Norton Rose Fulbright, Hughes Hubbard & Reed and Harneys have made partner promotions around the world, while Davis Polk & Wardwell has named a new counsel and Cole Schotz has announced new members in North America.

11 January 2022

Cleary assists as Mexico’s Pemex refinances debt

Mexico’s state-owned oil group Pemex and the country’s Ministry of Finance have relied on Cleary Gottlieb Steen & Hamilton for a refinancing that will reduce the company’s debt by US$3.2 billion.

11 January 2022

Purdue Pharma wins right to appeal bankruptcy plan rejection

Drug maker Purdue Pharma and its Sackler family owners have won the right to appeal a US district court ruling that threw out the company’s bankruptcy plan last month – while Judge Shelley Chapman has been asked to mediate negotiations to redraw the plan.

10 January 2022

Revised EIR 2015 adds Dutch and German schemes to annexes

Updated: The recast European Insolvency Regulation has been updated to include the new Dutch and German schemes among the proceedings it covers and remove English insolvencies and insolvency practitioners from its annexes following Brexit.

10 January 2022

Hiap Seng enters subscription agreement with Singaporean logistics group

Struggling oil and gas services provider Hiap Seng Engineering has entered an agreement with Singapore-headquartered logistics group Vibrant and the chief executive of construction company CGC Group, which will see them subscribe to almost US$6 million of new shares to help pay off its debts.

10 January 2022

Heads-Up: Joel Moss at Shearman & Sterling in New York

Featured in Heads-Up

Shearman & Sterling’s restructuring co-head Joel Moss speaks to GRR about changing sources of capital, a recent increase in creditor-on-creditor violence and a potential uptick in restructuring activity if central banks raise interest rates.

07 January 2022

Singapore court orders bank statements' release for Wirecard insolvency

In a rare move, a Singapore court has cleared the use of bank statements as evidence in defunct payment processor Wirecard's German insolvency proceedings.

07 January 2022

FTI Consulting hires from Protiviti in US, loses one in Cayman

FTI Consulting has hired a team of restructuring professionals from global consulting firm Protiviti, but lost another to Crowe Cayman.

07 January 2022

Offshore marine operator Ezion Holdings to wind down

Singapore-listed offshore marine operator Ezion Holdings says it plans to enter liquidation after an investment from a Malaysian energy infrastructure company fell through and it failed to complete a US$1.6 billion restructuring.

07 January 2022

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