English doorstep lender Morses Club and the UK Financial Conduct Authority have agreed on a 17 March deadline to reach a deal on the contents of an explanatory statement and meeting advertisement to be sent to scheme creditors, or face a second convening hearing in a process the lender is using to deal with thousands of redress claims.
08 March 2023
Liquidators from Krys Global in the British Virgin Islands have failed in their bid to recover US$3.6 billion in equitable compensation from a Saudi hotel magnate, after an English court said their pleadings “put the cart before the horse” - but they did win compensation for misappropriation of shares.
08 March 2023
One year after his appointment as Omni Bridgeway’s co-chief investment officer in the US, Jim Batson tells GRR about the “evolution” he has seen in the bankruptcy space in recent years, why he thinks litigation financing is at its heart an ESG product and what factors are considered when funders are deciding to invest.
07 March 2023
Colombian airline Viva Air has entered insolvency blaming the local aviation regulator for taking took too long to review its proposed acquisition by Avianca.
07 March 2023
UPDATED: Rio de Janeiro-headquartered retailer Americanas has secured recognition of its Brazilian restructuring in New York, as it dismissed reports that its shareholders had offered to boost a capital injection presented to creditors.
07 March 2023
Dissenting classes do not need to attend meetings for an English court to use the UK restructuring plan’s cross-class cramdown powers, a judge has explained in his written reasons for sanctioning seven plans for British care home group Lifeways.
06 March 2023
The joint official liquidators of three Cayman-incorporated investment funds have secured Chapter 15 recognition in New York, settling potential fraudulent transfer liability concerns brought by the funds’ investment manager.
06 March 2023
Simpson Thacher & Bartlett has hired a partner from Weil to lead its US company-side restructuring team, who brings with him credits on the Lehman Brothers, Seadrill and Sears Chapter 11s.
06 March 2023
Kirkland & Ellis debt finance partner Josh Peary has moved to Akin Gump’s new Boston office, days after the firm added new partners to its special situations and private credit teams In New York and London.
03 March 2023
Global Restructuring Review’s third Women in Restructuring survey is accepting submissions until Friday 10 March.
03 March 2023
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