News

Mexican homebuilder first to restructure under new insolvency laws

Mexican homebuilder Corporación GEO has become the first company to file and receive court approval for a pre-pack bankruptcy proceeding under the country’s new insolvency regime, restructuring approximately US$4.5 billion in debt.

27 January 2016

Fried Frank poaches Mayer Brown joint practice head

Fried Frank Harris Shriver & Jacobson has hired the joint head of Mayer Brown’s London restructuring practice.

27 January 2016

Lazard hires managing director from Skadden

Financial advisory and asset management firm Lazard has hired a partner from Skadden Arps Slate Meagher & Flom as managing director of restructuring.

27 January 2016

Abe leaves Baker & McKenzie to start new Tokyo firm

Former Baker & McKenzie partner Shinichiro Abe has left the firm’s office in Tokyo to set up his own practice.

21 January 2016

Insurers sue Puerto Rico for “unconstitutional” debt clawbacks

Two financial insurers are suing Puerto Rico for allegedly breaching the US Constitution, after the island’s governor clawed back funds meant for infrastructure agencies to repay debt.

21 January 2016

High Court approves serve out to Guernsey for Hellas fraud hearing

The UK High Court has granted permission for liquidators of Greek telecoms company Hellas Telecommunications to serve out forms in Guernsey, as they seek to bring fraud claims against the company’s former owners – weeks after a separate Luxembourg ruling against Hellas.

21 January 2016

UK High Court adjourns bankruptcy pending Spanish liquidation

In a dispute over a €200 million debt that has already sparked liquidation proceedings in Spain, the English High Court has adjourned a bankruptcy filing against a property mogul, finding that it would only benefit two Luxembourg-based funds at the expense of other creditors.

13 January 2016

New York court recognises Spanish gamer’s UK scheme

A New York bankruptcy court has granted Chapter 15 recognition of a €1.2 billion UK High Court-approved scheme of arrangement submitted by a British subsidiary of Spanish gaming group Codere.

13 January 2016

Rothschild restructuring director joins PwC

PricewaterhouseCoopers has hired a former director of Rothschild’s restructuring practice as a partner in its London office.

17 December 2015

New York court simplifies cross-border avoidance actions

A New York bankruptcy court has made it cheaper and less time-consuming for debtors to recover preferential payments from creditors with no US address, in a case concerning a bankrupt company that sold prepaid calling cards.

17 December 2015

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