Regional news: International

Ashurst advising as Norwegian oil services group secures scheme meeting

The holding company for a Norwegian seismic imaging group has secured a single meeting for some of its creditors to vote on an English scheme restructuring US$872 million of debt.

21 December 2020

Community roundup: IWIRC gets its first Hispanic chair amid new year hires and promotions

The International Women’s Insolvency and Restructuring Confederation will have its first Hispanic chair come 1 January, as a Dutch firm hires from Loyens & Loeff, and Vinson & Elkins and Cooley promote in New York.

16 December 2020

Eastman Kodak re-opened, but shutter closes on discharge claims

After persuading a New York judge to re-open the long-finished Eastman Kodak bankruptcy, a group of underwriters at Lloyd’s has failed to convince him the Chapter 11 case discharged their asbestos claims obligations for a company dissolved in 1971.

10 December 2020

Kirkland, Jackson Walker and Sheppard Mullin advising on Seadrill Ch11s

London-based offshore driller Seadrill Partners and 28 of its international subsidiaries have filed Chapter 11 proceedings in Texas, citing Bermuda-incorporated Seadrill Ltd, which itself went through bankruptcy two years ago, as their largest unsecured creditor.

03 December 2020

Duff & Phelps expands global reach with Borrelli Walsh acquisition

International advisory firm Duff & Phelps has announced it is buying Asia and Caribbean restructuring and asset recovery specialists Borrelli Walsh, in a deal set to be completed by mid-December.

02 December 2020

Bill Clinton at the ABI: “We need to get back into the tomorrow business”

Former US president Bill Clinton said the country’s federal government needs to provide at least one more round of “significant” investment to deal with the economic consequences of the covid-19 pandemic, as he addressed the American Bankruptcy Institute’s International Insolvency Forum.

20 November 2020

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm that is facing over €12 billion worth of claims.

19 November 2020

Swissport secures second convening hearing as unsecured group continues to circle

Chinese-owned aviation services group Swissport has secured a convening hearing for certain creditors to vote on its second English scheme in five months, while a dissatisfied group of senior unsecured noteholders has floated several objections.

10 November 2020

Europe Column: the future of cross-border insolvency protocols

Bob Wessels and Ilya Kokorin discuss their recent detailed study on the role of insolvency protocols in restructuring and insolvency law.

09 September 2020

Nortel’s Polish arm to end decade-long administration

The joint administrators of Nortel Networks Polska have secured termination and discharge orders from the High Court in London to bring an end to its 11-year administration in England.

26 August 2020

Get unlimited access to all Global Restructuring Review content