News

M3 adds former hedge fund manager in New York

New York-headquartered corporate advisory firm M3 Partners has hired a former hedge fund manager who worked on the Nortel Networks and Caesars Entertainment bankruptcies.

23 December 2021

Pacific Radiance seeks moratoria extensions as scheme meetings loom

Offshore oil services company Pacific Radiance has asked a Singaporean court to extend its moratoria, two months after it reached a conditional deal to sell its entire fleet to an affiliate of Mexican vessel owner ENAV Offshore.

23 December 2021

AHAB loses “complex and arduous” Cayman fraud appeal

Saudi conglomerate Ahmad Hamad Algosaibi & Brothers has lost its appeal against a Cayman Islands court ruling that found it conspired with its former head of investment to “perpetrate one of the largest Ponzi schemes in history” – bringing an end to over 12 years of litigation.

22 December 2021

Evergrande committee to work with creditors, Kaisa hires Sidley

China’s Evergrande said its recently formed risk management committee “will actively engage” with creditors to deal with its current problems, while fellow struggling property group Kaisa has hired Sidley Austin and Houlihan Lokey after defaulting on a series of notes.

22 December 2021

Rimon’s German wing welcomes new partner from DLA Piper

US firm Rimon’s new German arm has hired a former counsel from DLA Piper to join its fledgling Frankfurt office as a partner.

22 December 2021

Takata trustee’s insurance claim dismissed after forum dispute

The trustee of a compensation trust set up as part of Takata’s Chapter 11 plan has lost a dispute with a Tokyo-based insurance company, after a Delaware court ruled the matter should be dealt with in Japan.

21 December 2021

UK seeks input on plans to overhaul insolvency regulation

The UK government has launched a consultation on proposed plans to overhaul the insolvency sector’s regulation – including the establishment of a single new regulator under the Insolvency Service, which it had already touted for a couple of years.

21 December 2021

Nordic Aviation files Chapter 11 after completing Irish scheme

After completing an Irish scheme of arrangement last year, aircraft leasing company Nordic Aviation Capital (NAC) has filed a pre-arranged Chapter 11 in the US that will see its largest creditors take it over.

21 December 2021

GRR 40 under 40 2022: nominations now open

GRR wants to identify the next generation of rising stars within the cross-border restructuring community, and is inviting nominations for talented young individuals around the world to have a chance to be featured in the 2022 edition of our 40 under 40 survey.

20 December 2021

Kirkland advising as Smile Telecoms prepares new UK plan

African telecoms business Smile Telecoms is gearing up to launch another UK restructuring plan in the new year, with Kirkland & Ellis advising in place of Latham & Watkins.

20 December 2021

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