Regional news: International

Eversheds Sutherland has hired a partner from Akin Gump, who brings with her experience advising institutional investors in US, Australian and cross-border debt finance and financial restructuring cases.

10 July 2023

In what marks the first major restructuring using Germany’s StaRUG tool, international auto parts manufacturer Leoni has secured court approval for a plan that will see shareholders wiped out and Austrian billionaire Stefan Pierer take control of the group.

29 June 2023

In what is likely to be his last major confirmation ruling, Judge Marvin Isgur in the Southern District of Texas has approved British cinema chain Cineworld’s Chapter 11 plan, which will see shareholders wiped out and lenders take control of the business.

28 June 2023

British cinema chain Cineworld is planning to file for administration in England as part of an updated Chapter 11 plan that will also see it hand over control of the group to its lenders.

26 June 2023

Two rump holdcos that were left behind when US investor Merced Capital acquired Dubai-based offshore construction vessel owner Telford Offshore as part of a restructuring in February have been wound up in the Cayman Islands.

26 June 2023

São Paulo bankruptcy judge and co-chair of the International Insolvency Institute’s judicial committee Judge Daniel Carnio Costa tells GRR about his central role in helping reform Brazil’s bankruptcy law, new tools he would like to see added to the statute book and how time spent studying in the US and Europe helped shape his innovative approach to restructuring.

23 June 2023

Bryan Cave Leighton Paisner partner Andrew Schoulder has joined Norton Rose Fulbright’s special situations team in New York, bringing with him experience working on the restructurings of European shipping groups Excel Maritime and Marco Polo Seatrade.

22 June 2023

A “fearless” pioneer of the global restructuring industry and influential driver of US bankruptcy law reform, Bill Brandt has died at the age of 73.

06 June 2023

Purdue Pharma’s restructuring plan has been reinstated after a lengthy appeal – but the Second Circuit, conflicting with the Third Circuit, found the bankruptcy court that originally authorised the plan lacked constitutional authority to enter a final order approving releases for its non-debtor owners.

31 May 2023

The chair of Indian IT group Rolta has been ordered to personally pay creditors almost US$188 million following a bond default in 2018, after a New York court found he directed the group to file bankruptcies in bad faith.

25 May 2023