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In a decision that lawyers say will lead to the creation of a framework for cooperation in cross-border insolvency proceedings, an appellate tribunal in Delhi has stayed part of a lower court’s order that refused to recognise Indian airline Jet Airways’ Dutch bankruptcy proceedings.
15 July 2019
Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.
04 July 2019
Is the UK set to become a “third state” when it leaves the EU? Will insolvency proceedings opened in the UK be recognised by member states? Can UK schemes of arrangement maintain their dominance in the market? And how will legislative changes shape the post-Brexit landscape? GRR invited nine distinguished guests to find out.
02 April 2019
The SDNY bankruptcy court has approved a pre-packaged restructuring plan for Indonesian shipping company Arpeni’s Dutch note-issuing subsidiary, seven years on from the parent company’s first restructuring.
20 March 2019
A court in Saint Vincent and the Grenadines has refused to enforce an arbitral award against an insolvent local investment fund, saying the Dutch award holder’s prayer had failed to specifically request enforcement.
01 February 2019
The Dutch Supreme Court has refused to recognise oil and gas company Yukos’s Russian bankruptcy, ending a long-running battle for control of the Russian oil company’s international assets.
22 January 2019
South African retail conglomerate Steinhoff says “a company claiming to be a creditor” has filed an objection to company voluntary arrangements for two of its European subsidiaries, one month after creditors approved them.
11 January 2019
A Dutch liquidator’s claim against Belgian bank BNP Paribas Fortis, over a payout to a bailiff imprisoned for embezzlement, isn’t governed by the EU’s Insolvency Regulation, according to an advocate-general of the EU Court of Justice.
24 October 2018
A US shareholder has failed to overturn a restructuring plan for a Luxembourg-registered vehicle set up to buy the financial services arm of bankrupt Russian oil giant Yukos.
17 October 2018
Struggling South African conglomerate Steinhoff has nominated former PwC partner Paul Copley to its supervisory board, a week after it emerged that a Johannesburg-based corporate boutique had launched a class action against the company and linked parties.
17 August 2018
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