Regional news: International

Lawyers and investors tell GRR the takeover of troubled Swiss bank Credit Suisse by UBS could lead to the end of the market for Additional Tier 1 bank debt, with bondholders set to lose US$17 billion through the deal announced this weekend.

20 March 2023

The parent company of Silicon Valley Bank, which was taken over by US regulators following its collapse last week, has sought bankruptcy protection in New York while it explores a potential sale of its remaining assets.

17 March 2023

One year after his appointment as Omni Bridgeway’s co-chief investment officer in the US, Jim Batson tells GRR about the “evolution” he has seen in the bankruptcy space in recent years, why he thinks litigation financing is at its heart an ESG product and what factors are considered when funders are deciding to invest.

07 March 2023

An FTX customer has launched a class-action in Florida against several prominent US and foreign entities – including Singapore’s state-owned wealth fund Temasek Holdings and Japan’s Softbank – who he accuses of “aiding and abetting” the collapsed crypto group’s alleged US$8 billion Ponzi scheme.

23 February 2023

Courts in The Bahamas and the US have agreed to recognise FTX’s insolvency processes in each other’s jurisdictions, while the US Trustee has failed in a bid to appoint an independent examiner to investigate allegations of fraud by the crypto group.

15 February 2023

Insolvency advisers in the Cayman Islands have taken aim at what they say is a recent trend of “protectionist” Hong Kong court rulings at the American Bankruptcy Institute’s Caribbean Insolvency Symposium.

08 February 2023

Mr Justice Harris has predicted Hong Kong will soon become a signatory to the UNCITRAL Model Law and said US judges “don’t fully understand” the concerns of Hong Kong courts in the wake of the controversial cross-border restructuring of Chinese real estate developer Modern Land.

01 February 2023

Partners from McDermott Will & Emery in the UK and US examine how struggling companies fared in 2022 with reduced access to liquidity, and predict an increase in distressed M&A activity and out-of-court transactions as debtors look to deal with those liquidity issues in the year ahead.

17 January 2023

Two aerospace manufactures have won permission to appeal an English court ruling that found they must honour interest rate swap transactions when Lehman Brothers’ main European arm exists administration.

03 January 2023

Liquidators of Stanford International Bank have failed to convince the UK’s highest court they should be allowed to bring a damages claim against HSBC for paying out money to the company’s customers when it was allegedly on notice the payments were part of a fraud.

21 December 2022