News

Mike Jervis 1962 - 2023

PwC partner Mike Jervis, one of the original Lehman Brothers administrators in the UK and special manager of the collapsed public services contractor Carillion, died on 4 January after a long illness.

10 January 2023

Dechert duo set to join Cleary in London

Cleary Gottlieb Steen & Hamilton has hired Solomon Noh and Alastair Goldrein as partners to grow the firm’s emerging markets restructuring practice in London.

10 January 2023

Ch15 round-up: Estonian trustee seeks US recognition to pursue missing crypto

The trustee of an allegedly fraudulent Estonian crowdfunding platform has sought recognition of his appointment in Florida, where the decades-long Brazilian liquidation of a poultry business has been recognised – while two other new Chapter 15 actions are pending in Massachusetts and Colorado.

10 January 2023

Faegre Drinker continues growth with London hire

Former Greenberg Traurig shareholder Gary Bellingham has joined Faegre Drinker as a partner in London, as the firm shows no signs of slowing down following a two-year hiring spree.

10 January 2023

FTX CEO and Bahamian JPLs sign co-operation agreement

Despite an escalating war of words at the start of last week, the team behind bankrupt cryptocurrency platform FTX’s Chapter 11 case and the securities regulator of the Bahamas and its appointed liquidators have agreed to cooperate.

09 January 2023

Validity of energy pricing lies outside of bankruptcy court’s remit, Fifth Circuit rules

US bankruptcy courts do not have the authority under Texas law to decide if power rates charged by the Electric Reliability Council of Texas and the Texas Public Utility Commission were illegal, the Fifth Circuit Court of Appeals has ruled.

09 January 2023

China Fortune Land alters English scheme amid new Russia sanctions

Struggling Chinese property developer China Fortune Land Development has been forced to amend its English scheme after the UK announced new sanctions that prohibit the provision of trust services to Russian persons or entities.

09 January 2023

Celsius ruling “should be helpful” to FTX customers, ex-CEO faces fraud suit

After a New York court ruled this week that bankrupt crypto brokerage Celsius owns funds deposited by thousands of investors, lawyers in the US and Singapore tell GRR the decision provides important drafting lessons and may prove a useful precedent for FTX customers.

06 January 2023

Crypto investors lodge class action over alleged concealed insolvency

Cryptocurrency lender Genesis is facing a class action arbitration claim from three investors who accuse it of conducting a billion-dollar sham transaction to conceal that it has been insolvent for months.

06 January 2023

Canadian gold miner enters bankruptcy after failed restructuring

Gold miner Great Panther has filed for bankruptcy after its major creditor, a subsidiary of Japanese metals conglomerate Asahi, persuaded a Canadian court to lift the stay that was protecting the company while it attempted to restructure under the Companies Creditors Arrangement Act.

05 January 2023

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