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In the year that witnessed the downfalls of Silicon Valley Bank, First Republic and Credit Suisse, judges, lawyers and academics gathered in Rome to discuss the growing need for a model law specific to distressed financial institutions that will not be perceived as a risk to state sovereignty.
24 November 2023
The Canadian branch of Italian leather goods retailer Furla has filed for bankruptcy in Ontario, three years after the group’s US arm sought Chapter 11 protection in New York due to the covid-19 pandemic.
13 September 2023
An Italian construction group has secured sanction of two Part 26A restructuring plans that it is using to bind English creditors to its Italian concordato proceedings, after the High Court in London found that dissenting classes would be no worse off in any one of multiple relevant alternative scenarios.
25 August 2023
Italian construction group Cimolai has won approval to hold creditor meetings on a pair of parallel Part 26A restructuring plans, which it is using to avoid falling foul of the rule in Gibbs and bind English creditors to its Italian concordato proceedings.
14 July 2023
Construction group Cimolai has secured UK recognition of its Italian insolvency proceedings, almost three weeks after obtaining a Chapter 15 order in Texas.
28 April 2023
Brazilian beef producer Tinto and ethanol producer Tonon, Canadian office furniture manufacturer Inscape and Italian construction group Cimolai have all secured recognition of their respective bankruptcy proceedings in Florida, New York and Texas in the past weeks.
17 April 2023
Greenberg Traurig has hired a partner from Willkie Farr & Gallagher’s Italian affiliate to co-chair its restructuring and compliance groups.
04 April 2023
The UK is showing more signs of distress compared to other parts of Europe and is the only major European economy still expected to enter a recession this year, Weil Gotshal & Manges’ latest Distress Index figures confirm, as they suggest distress has eased in most other key European countries.
30 March 2023
Italian construction group Cimolai has secured interim Chapter 15 relief in Texas to stay creditor actions in relation to “unauthorized” foreign exchange derivative contracts entered by former employees, three months after an English court ordered a similar temporary injunction.
14 March 2023
Bob Wessels picks up where he left off last April on the topic of what happens when a territorial insolvency proceeding is opened prior to any main insolvency proceedings.
17 February 2023
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