Regional news: Canada
Argentine power provider enters Chapter 11
Power plant operator Stoneway Capital Corporation has applied for Chapter 11 protection in the US and is likely to abandon its Canadian restructuring, after environmental claims filed against it in Argentina prevented the extension of a standstill agreement with creditors.
08 April 2021
Fried Frank continues growth with New York hire
Weeks after Mandip Englund joined its London restructuring group, Fried Frank has hired veteran Kasowitz Benson Torres partner Adam Shiff in New York.
06 April 2021
Weil Gotshal advising as Brooks Brothers enters UK administration
UPDATED: US clothing group Brooks Brothers has placed its UK arm into administration after securing approval of a Chapter 11 plan to wind down its remaining assets following a sale last year.
06 April 2021
US paparazzi agency files for bankruptcy following Meghan Markle lawsuit
Blaming an “unbearably expensive” privacy claim lodged against it in England by Meghan Markle, US paparazzi outlet Splash News & Picture Agency has filed Chapter 11 proceedings in Nevada – with plans to hire Pinsent Masons to seek recognition in the UK.
25 March 2021
Knotel sold out of Chapter 11 after Canadian recognition
Struggling flexible office space operator Knotel has received court approval for its sale to a subsidiary of US commercial real-estate giant Newmark, after its Chapter 11 proceedings were recognised in Canada.
24 March 2021
Opioid maker Purdue submits US$10 billion Chapter 11 plan
A year and a half since it entered bankruptcy, Purdue Pharma has submitted a U$10 billion Chapter 11 plan before a New York court that it says will shift it from opioid drug marketer to a company owned by a public trust dedicated to addressing addiction.
16 March 2021
Canadian energy provider enters CCAA, files for US recognition
Months after completing a balance sheet restructuring, Canadian retail energy provider Just Energy Group has entered CCAA protection in Toronto and sought Chapter 15 recognition, blaming an “unforeseeable liquidity trap” caused by Texas’ unprecedented winter storm.
10 March 2021
Transatlantic private equity company seeks protection in Canada
A private equity company with investments across North America and the UK has filed CCAA proceedings in British Columbia, with DLA Piper acting for KSV Advisory as its monitor.
09 March 2021
Cayman oil company wound-up after Canadian action withdrawn
An Australian litigation funder has obtained a Cayman winding-up order against a client that had its arbitral award sequestered in Albania, after withdrawing enforcement proceedings in Canada.
08 March 2021
Cayman avoidance order overturned against Canadian businessman
An avoidance order handing shares in a Canadian businessman’s companies to his Cayman bankruptcy trustee has been overturned by a Cayman appeal court, but litigation against his wife is set to continue.
25 February 2021