Recognition

Cayman court approves landmark cross-border communications protocol

A Cayman Islands court has approved a cross-border communications protocol for the first time, agreeing a process for working with courts in New York, Chile and Colombia on Chilean airline LATAM’s restructuring.

27 August 2020

Isle of Man investment company seeks US recognition

An Isle of Man-incorporated investment company is seeking Chapter 15 recognition of its creditors’ voluntary liquidation, following a “lack of cooperation” that has prevented its liquidators from investigating the company’s US assets.

24 August 2020

Hema seeks US recognition after creditors back UK scheme

Dutch retailer Hema has asked a New York court to recognise its UK scheme of arrangement, hours after a majority of scheme creditors voted to approve it.

21 August 2020

Chilean copper miner seeks US recognition following creditor “attacks”

A Chilean producer of copper cathodes is seeking recognition of its Santiago bankruptcy in New York, claiming its bank accounts have “come under attack” from creditors in Chile and the US.

17 August 2020

Two more Virgin Australia entities seek Chapter 15 recognition

The newly appointed administrators of two Virgin Australia entities that Bain Capital plans to include in its purchase of the group have sought Chapter 15 recognition in New York.

14 August 2020

Cirque du Soleil wins recognition of CCAA proceedings amid objections

A Delaware court has recognised circus production group Cirque du Soleil’s CCAA proceedings in Quebec, despite objections from some creditors.

12 August 2020

Virgin Atlantic gets interim US recognition of UK proceedings

A New York court has granted interim relief for Virgin Atlantic, finding it had shown a “substantial likelihood” that its landmark UK restructuring plan would be recognised under Chapter 15.

10 August 2020

Mexican retailer enters bankruptcy in Mexico, after Chapter 11 derailed

Mexican loan to own retailer Grupo Famsa has applied for bankruptcy protection in Mexico along with Chapter 15 recognition, after the loss of its banking licence derailed its Chapter 11 process.

07 August 2020

Virgin Atlantic seeks Chapter 15 recognition of English proceedings

Hours after its successful convening hearing in the UK, Virgin Atlantic filed for Chapter 15 recognition of its English restructuring plan in New York.

05 August 2020

UK retailer Matalan seeks US recognition of English scheme

Guernsey-owned British fashion and homeware retailer Matalan has filed for Chapter 15 recognition of its English scheme, two days after it was approved by the High Court in London.

30 July 2020

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