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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