News

China's HNA completes restructuring

Chinese conglomerate HNA Group has completed its multi-billion-dollar restructuring, almost seven months after it secured the first-ever recognition of a mainland rescue process in Hong Kong.

25 April 2022

Teneo hires from Accuracy in Hong Kong

Former EY and Accuracy director So Kim Lau has joined the recently launched Hong Kong office of New York-headquartered financial advisory firm Teneo.

25 April 2022

Interpath plans expansion into Ireland with six hires from Big Four firms

Interpath Advisory has announced it is planning to open a practice in Ireland in June, recruiting senior insolvency practitioners from Deloitte and KPMG.

22 April 2022

Toys R Us creditor trust fails in US claw back effort

More than three years after retailer Toys R Us’ US bankruptcy plan was approved, a trust representing its creditors has failed in a bid to claw back US$12 million from multinational logistics company UPS – while a Virginia court has held that the trust’s breach of fiduciary duty claims against executives of the retailer are time-barred.

22 April 2022

Nordic Aviation Capital obtains US plan approval

Aircraft lessor Nordic Aviation Capital has secured sanction of its third amended Chapter 11 plan in the US and aims to exit bankruptcy before the end of May, completing a multi-faceted post-pandemic restructuring that began with an Irish scheme of arrangement in 2020.

21 April 2022

Samarco creditors reject third restructuring plan, will file their own

Creditors of Brazilian miner Samarco Mineração have rejected a third restructuring plan that the company submitted before a court in Belo Horizonte earlier this year – and will now file their own “historic” alternative.

21 April 2022

Win for Goodwin as Kirkland partner joins firm

A Kirkland & Ellis partner who represented creditors in the Seadrill, Puerto Rico and Molycorp restructurings has joined Goodwin Procter in New York.

21 April 2022

China’s Modern Land pursues offshore scheme as RiseSun’s is sanctioned

Chinese property group Modern Land has launched a scheme in the Cayman Islands to restructure over US$1.3 billion worth of foreign notes, while rival firm RiseSun Real Estate Development has secured sanction of its own British Virgin Island scheme together with recognition in the US.

21 April 2022

Canadian receiver obtains emergency relief from creditors in North Dakota

An oilfield services company’s Canadian receiver has obtained temporary emergency relief from a court in North Dakota to stall a wave of creditor enforcement actions against the debtor in a local district court.

20 April 2022

Kroll managing director appointed to Malaysian energy company's board

Malaysia's Sapura Energy has appointed a senior member of Kroll’s restructuring team to its board after receiving the green light to convene meetings for creditors to vote on a scheme of arrangement.

20 April 2022

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