News

Teneo buys KPMG’s Cayman and BVI restructuring arms

Global advisory firm Teneo, which last year bought Deloitte’s UK restructuring business, has acquired the Cayman and British Virgin Islands restructuring arms of KPMG.

06 January 2022

Trustee of Brazilian meat group seeks US help in liquidation efforts

The bankruptcy trustee of a Brazilian meat producer caught up in a widespread fraud has applied for recognition in New York to allow him to find and liquidate assets in the US – after he failed to find any cash in Brazil.

06 January 2022

Gibraltar court clarifies powers of protected cell company administrators

The PwC administrator of parts of a Gibraltarian protected cell company may apply to hold a private examination of one of its directors under the local regime for such entities, Gibraltar’s Supreme Court has confirmed.

06 January 2022

Latham and Kirkland advising as Chinese power company seeks US recognition

The bankruptcy administrator of one of China’s largest private power generators has sought recognition in the US after it defaulted on New York law-governed notes – a week after a Chinese chemicals group also filed Chapter 15 proceedings in California to block litigation stemming from a failed joint venture.

05 January 2022

Gowling WLG recruits Womble Bond Dickinson London lead

Womble Bond Dickinson’s former London restructuring team leader has joined Gowling WLG.

05 January 2022

J&J Chapter 11 recognised in Canada

A Canadian court has recognised healthcare conglomerate Johnson & Johnson’s controversial “Texas two-step” Chapter 11 restructuring and US injunction, temporarily blocking personal injury claims against the group in the country.

05 January 2022

Forbes Hare hires “industry leader” in the Cayman Islands

Former Conyers Dill & Pearman partner Ben Hobden has joined boutique law firm Forbes Hare in the Cayman Islands, bringing with him recent experience working on the Ocean Rig and Abraaj bankruptcies.

04 January 2022

Credit Suisse seeks US discovery for English Softbank suit

Zurich-headquartered Credit Suisse is seeking discovery in California to support a planned English lawsuit against Japan’s Softbank over its alleged restructuring of a former Greensill client in late 2020, which the Swiss bank says put valuable receivables beyond its reach.

04 January 2022

Philippine Airlines exits US bankruptcy after country’s first Chapter 11 recognition

One of Asia’s oldest airlines has emerged from Chapter 11 after a court in the Philippines became the first in the country to recognise a US bankruptcy proceeding.

04 January 2022

Bermudian energy group enters provisional liquidation, blames Hin Leong

Hong Kong-listed oil and gas group NewOcean Energy has appointed soft touch provisional liquidators in Bermuda to help restructure its debts, blaming Singaporean oil trader Hin Leong for causing a “ripple-effect” on the industry when it entered judicial management last year.

23 December 2021

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