Regional news: International

SGRI, Singapore: Sontchi on 16 years on the Delaware bankruptcy bench

Closing the Singapore Global Restructuring Initiative’s inaugural conference, Judge Christopher Sontchi provided 16 observations from his 16 years on the Delaware bankruptcy bench, saying judges will only ever know “a small fraction” of the truth and settlements are “almost always” better than court decisions.

18 November 2022

SGRI, Singapore: crypto collapses “enliven” opportunity for mediation

The high-profile collapses of FTX and other crypto companies will lead to the “next wave” of mediations and arbitrations, according to speakers at the Singapore Global Restructuring Initiative’s inaugural conference.

15 November 2022

INSOL at 40: president Scott Atkins discusses INSOL’s future plans as it hits a milestone age

INSOL International turned 40 this year and is using the opportunity to reimagine itself so it is still relevant in decades to come. GRR caught up with INSOL’s president Scott Atkins, global co-head of restructuring at Norton Rose Fulbright in Sydney, to talk about the association’s new 2030 strategy and how it is reframing itself from a regular membership organisation to a group with a broader societal impact, at a time when the global economic environment points to significant disruption.

11 November 2022

Altera gets Ch11 plan approval after unsecured creditor concessions

UK-headquartered oil and gas services provider Altera Infrastructure has won a Texas court’s approval for its US$1 billion restructuring plan, after it was amended three times following objections from unsecured bondholders who were initially left out of the money.

07 November 2022

Davis Polk advising as Brazilian engineering giant files Ch15

One of Latin America’s largest engineering groups has sought recognition of its Brazilian restructuring in New York to stay a claim brought by Missouri-headquartered UMB Bank, which is seeking to recover over US$40 million owed under notes that matured last year.

02 November 2022

IBA, Miami: “information is an asset”

As a dispute over property requirements for Chapter 15 debtors heads for a potential circuit clash in Florida, a panellist at the International Bar Association’s annual conference has said information should be reconceptualised as an asset.

01 November 2022

Garuda wins Ch15 recognition but Irish lessors prepare for fight

Indonesia’s national airline has secured US recognition of its US$9.5 billion restructuring plan, but two Irish lessors said they will resist attempts by the company to seek enforcement orders.

27 October 2022

Dutch lighting group completes US pre-pack in 46 days

UPDATED: Netherlands-headquartered lighting group Lumileds has secured a New York court’s approval for its pre-packaged Chapter 11 plan that will see lenders take control of the company from US private equity firm Apollo Global Management.

24 October 2022

IWIRC announces its 2022 rising star

The International Women’s Insolvency and Restructuring Confederation has named a partner from New Jersey firm McManimon Scotland & Baumann as the winner of its annual rising star award.

24 October 2022

GRR Live, New York: China’s debt-trap conspiracy

After two decades that have seen China become the largest bilateral lender to the world’s poorest countries, attendees at GRR Live in New York said talk of so-called “debt-trap diplomacy” is misplaced but the country needs to decide whether it wants to be isolated or part of the developed financial world.

19 October 2022

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