Skadden advising as Endo agrees Ch11 pre-pack sale amid opioid suits

Ireland-registered pharmaceutical group Endo has sought bankruptcy protection in New York after agreeing a US$6 billion sale with noteholders – with plans to seek recognition in Canada, the UK and Australia.

17 August 2022

Singapore court offers guidance on “sufficient connection” as Zipmex moratoria granted

Hoping to assist practitioners as the crypto winter ushers in a new period of activity for the restructuring industry, the High Court of Singapore has published brief grounds for its decision to extend moratoria for foreign companies within the Zipmex group.

17 August 2022

Chinese developer Skyfame enters soft touch liquidation in Bermuda

Hong Kong-listed Skyfame Realty has entered provisional liquidation in Bermuda after defaulting on its offshore debt, while fellow property developer Evergrande is facing an investigation after lender banks seized over US$2 billion from its subsidiary earlier this year.

17 August 2022

Citibank seeks lender status in Revlon Ch11 following US$900m blunder

New York-headquartered Citibank is suing Revlon for US$500 million over allegations it was unjustly enriched when the bank mistakenly used its own money to repay one of the multinational cosmetics group’s term loans in full.

16 August 2022

Singapore court sanctions Pacific Radiance schemes

Singapore-listed offshore oil services group Pacific Radiance has completed an almost five-year long restructuring after a Singapore court sanctioned a pair of schemes of arrangement for its subsidiaries.

16 August 2022

Hilco Global targets US growth with managing director hires

Financial services group Hilco Global has recruited a new special situations practice leader in Los Angeles and a managing director to grow its disputes team in Chicago.

16 August 2022

Altera secures interim financing as unsecured noteholders raise objections

UK-headquartered oil and gas services provider Altera Infrastructure has secured a host of first day orders after filing Chapter 11 proceedings in Texas late last week, despite objections from a group of unsecured noteholders who say they will receive “virtually no recovery” under the group’s pre-packaged plan.

15 August 2022

Weil, White & Case advise on Ukraine sovereign debt deal

UPDATED: White & Case advised the Ukrainian government on a sovereign debt restructuring deal it reached with certain GDP warrant and bondholders last week, with Weil on the side of larger creditors.

15 August 2022

Howse Williams hires Addleshaw partner in Hong Kong

Howse Williams has hired a litigation partner from Addleshaw Goddard with credits on the restructurings of China’s Peking University and Chinese semiconductor maker Tsinghua Unigroup, as the international firm closes shop in Hong Kong.

15 August 2022

Heads-Up: Fiona Huntriss and Neil Pigott at Pallas Partners in London

Featured in Heads-Up

Fiona Huntriss and Neil Pigott, partners in the London litigation and disputes boutique founded by former Boies Schiller Flexner deputy chair Natasha Harrison in February, tell GRR what it’s like to work in London’s newest law firm, explain why Eastern Europe is an area to watch, and share their thoughts on the UK’s proposals to adopt two new Model Laws from UNCITRAL Group V.

12 August 2022

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