Regional news: International
Nortel’s main French arm to end English administration
The largest French arm of Nortel Networks is set to terminate its “unique” 12-year English administration, eight months after a court in Versailles closed its secondary liquidation.
20 September 2021
Boart Longyear schemes sanctioned in Australia
Australian mining group Boart Longyear has won court approval for two schemes of arrangement in Sydney that aim to convert about US$795 million of debt into equity – while plans to redomicile in Canada continue apace.
17 September 2021
Baker & Partners hires HSM restructuring head in the Cayman Islands
The recently appointed leader of HSM Chambers’ restructuring and insolvency practice has left the firm for Baker & Partners in the Cayman Islands.
17 September 2021
Maples taps insolvency partner for British Virgin Islands role
Maples and Calder has hired a new British Virgin Islands partner with experience advising on the cross-border restructurings of China’s Luckin Coffee and Brazilian oil group Constellation.
15 September 2021
The use of mediation to improve global restructuring outcomes in a post-pandemic world
Writing exclusively for GRR, Debra Grassgreen, president of the International Insolvency Institute and senior partner at Pachulski, Stang, Ziehl & Jones in San Francisco, and Scott Atkins, president of INSOL International and Australian chair/ head of risk advisory at Norton Rose Fulbright in Sydney, make a case for why mediation has an important role to play in global restructuring reform going forward.
10 September 2021
GRR launches cross-border recognitions database
Subscribers can now access GRR’s searchable collection of recognition decisions from around the world, developed with input from some of the top lawyers and restructuring practitioners internationally.
10 September 2021
AHAB secures historic restructuring settlement
Saudi Arabia’s new bankruptcy law has been praised after Ahmad Hamad Algosaibi & Brothers (AHAB) finally reached a US$7.5 billion settlement with creditors following 12 years of legal disputes around the world.
09 September 2021
McDermott recruits senior QC in London
The leader of Wilberforce Chambers’ restructuring and insolvency group has joined McDermott Will & Emery as a senior consultant in London.
17 August 2021
Chinese bank aims debt claim at Inter Milan president
A Hong Kong branch of China Construction Bank has sued the president of Italian football club Inter Milan, seeking more than US$250 million in outstanding debts held by Chinese retail conglomerate Suning.
06 August 2021
Seadrill files Chapter 11 plan in Texas
Offshore rig operator Seadrill Limited has entered into a restructuring agreement with over half of its senior secured lenders, in a bid to cut its debts by over US$4.9 billion and raise new financing.
27 July 2021
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