News

Intelsat shareholder group fails to secure examiner

Global satellite group Intelsat has seen off a shareholder group’s attempt to appoint an examiner to investigate potential mismanagement claims ahead of a confirmation hearing on its Chapter 11 plan.

30 September 2021

Caffè Nero CVA challenge rejected

An English court has rejected all allegations of material irregularity and unfair prejudice brought by a landlord against UK coffee chain Caffè Nero’s company voluntary arrangement, in a decision that exposes a gap in the rules on UK electronic voting procedures.

29 September 2021

New York’s Judge Drain announces retirement

Judge Robert Drain of the United States Bankruptcy Court for the Southern District of New York, who presided over the Purdue Pharma and Sears bankruptcies, is set to retire next year.

29 September 2021

English court recognises Ukrainian banker’s insolvency, issues bankruptcy order

After finding a banker with an “international lifestyle” had his centre of main interests in Ukraine when he initiated insolvency proceedings there in 2019, an English court has granted recognition to the trustee of his estate and made a separate bankruptcy order against him in the UK.

29 September 2021

Thirty minutes with Edwin Tong SC: restructuring partner turned politician

Edwin Tong SC, a former head of restructuring and corporate insolvency at Allen & Gledhill, turned to politics a decade ago. In 2018, he was tasked with the development and promotion of Singapore’s legal sector – including fulfilling its self-proclaimed ambition to become a restructuring hub: so GRR caught up with him to ask how that ambition was coming along, five years down the line.

28 September 2021

Modernland seeks US recognition to cement Singaporean schemes

Indonesian real estate group Modernland Realty has sought New York recognition of its Singaporean schemes of arrangement to block potential lawsuits against the group in the US.

28 September 2021

III announces new NextGen members

The International Insolvency Institute  has announced the 21 “rising stars” that make up its latest NextGen leadership program intake – including 13 private practice lawyers, six academics and an adviser from EY in China.

28 September 2021

Gibbs trips Prosafe recognition in Scotland

Norwegian vessel operator Prosafe has failed to obtain recognition of its Singaporean moratoria in Scotland, with a Scottish court reasoning they were akin to schemes that the Gibbs rule prevented from binding an English law-governed debt owed to a Chinese shipbuilder.

27 September 2021

Jersey-based investor fails to block potential English preference claims

Days after the director of a Jersey-based investment vehicle lost his bid to restrain a creditor from presenting a winding up petition in the English courts, a London judge has ordered a hearing to take place as early as next month.

27 September 2021

Community round-up: advisory firms make hires across Europe and US

US-headquartered advisory firm Ankura Consulting has launched a new European restructuring practice with several hires, including the former co-heads of EY’s European restructuring group and AlixPartners’ UK turnaround practice – while B Riley and Alvarez & Marsal have added new faces in the US and London.

27 September 2021

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