News

Rock International scheme sanctioned in BVI and recognised in US

A Texas court has recognised a British Virgin Islands scheme of arrangement for special purpose vehicle Rock International Investments, a day after it was sanctioned.

14 December 2020

Ogier adds new partners in Hong Kong and Guernsey

Offshore firm Ogier has boosted its global restructuring offering with the appointment of three news partners in Hong Kong and Guernsey.

14 December 2020

Canadian stay lifted in Cayman recognition case

A Canadian court has set aside an automatic stay granted to a married couple appealing the recognition of two Cayman orders made against them, finding it hindered investigations into their assets.

14 December 2020

English court approves Swissport’s second scheme, cautions third party objectors

Chinese-owned aviation group Swissport has had its second English scheme of arrangement sanctioned, with the court calling for “tighter direction” on unaffected third parties making and withdrawing objections.

11 December 2020

Baker McKenzie’s Singapore office hires new principal

Baker McKenzie Wong & Leow has hired a new local principal from oil major Chevron, to handle restructuring and insolvency disputes with rights of audience before the Singapore courts.

11 December 2020

Corporate failures – can the UK’s financial regulator lead the charge?

Following news that the UK’s Financial Conduct Authority is planning to take action against collapsed construction giant Carillion and some of its former directors, Signature Litigation partners Abdulali Jiwaji and Paul Brehony and professional support lawyer Johnny Shearman examine the conflict between the UK’s financial regulatory regime and its insolvency legislation.

11 December 2020

Opposing creditors withdraw objections as Swissport seeks scheme sanctioning

An ad hoc group of Swissport’s senior unsecured noteholders has dropped its challenges to the Chinese-owned aviation group’s English scheme, just as the sanction hearing was due to start.

10 December 2020

Ankura hires from Goldman Sachs

Business advisory firm Ankura has strengthened its turnaround and restructuring group in New York with a new senior managing director from Goldman Sachs.

10 December 2020

Eastman Kodak re-opened, but shutter closes on discharge claims

After persuading a New York judge to re-open the long-finished Eastman Kodak bankruptcy, a group of underwriters at Lloyd’s has failed to convince him the Chapter 11 case discharged their asbestos claims obligations for a company dissolved in 1971.

10 December 2020

Norwegian Air wins bankruptcy protection in Norway

Norwegian Air has entered a formal restructuring process in Norway to run parallel to its Irish examinership, and announced an agreement to convert over €7 million of debt into equity.

09 December 2020

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