News

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

Irish billionaire declared bankrupt in the Bahamas despite challenge from Irish creditor

The Bahamian Supreme Court has declined to register a personal insolvency arrangement for Irish former billionaire and international rugby player Sir Anthony O’Reilly and declared him bankrupt instead, amid calls from a creditor bank that he was trying to avoid paying a judgment debt awarded by a court in Ireland.

17 December 2015

Bird & Bird adds team in Paris

Bird & Bird has hired the former head of the restructuring and insolvency practice at French firm Aramis as a partner in its Paris office.

17 December 2015

Shepherd and Wedderburn hires team in Glasgow

Scottish firm Shepherd and Wedderburn has hired a three-partner team from local rival HBJ Gateley in Glasgow.

17 December 2015

Norwegian seismic group files for bankruptcy

A Norwegian seismic surveyor has filed insolvency proceedings in Oslo, citing the sustained drop in crude oil prices – but its UK, US and Singaporean arms are continuing to operate as normal.

17 December 2015

US Supreme Court to hear Puerto Rico debt restructuring appeal

The US Supreme Court will hear an appeal from Puerto Rico to reinstate a local law permitting the restructuring of the commonwealth’s US$73 billion debt, which was struck down on account of conflicts with US federal bankruptcy law.

17 December 2015

Akerman appoints new chair of bankruptcy and reorganisation

Florida-headquartered firm Akerman has appointed a new bankruptcy and reorganisation co-chair, as the former head of the group moves to lead the firm’s newly created fraud and recovery practice.

17 December 2015

ISDA re-launches resolution stay protocol

The International Swaps and Derivatives Association (ISDA) has announced an updated stay protocol, developed with the international Financial Stability Board, to help with the orderly cross-border resolution of “too big to fail” banks and financial institutions.

17 December 2015

Hong Kong’s highest court finds jurisdiction to wind up BVI company

The Hong Kong Court of Final Appeal has ruled for the first time on its statutory jurisdiction to wind up a foreign entity, ordering the liquidation of a BVI-registered holding company for a famous Hong Kong restaurant.

17 December 2015

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