Regional news: North America
Holland & Knight advises as BVI fund targets Delaware borrower
The liquidators of a British Virgin Islands fund have lodged a breach of contract claim against Delaware-registered borrower Tremont International in New York, where they secured Chapter 15 recognition in 2019.
27 May 2022
Danish pharma company seeks $13 million asset sale amid US class action
A Copenhagen-based biopharmaceutical company is set to sell its assets to US pharma group KemPharm as part of a restructuring announced last week, after failing to secure European approval to market a new drug.
25 May 2022
Bankruptcy trustee seeks return of A&M funds for “true” creditors
The bankruptcy trustee of a Texan oilfield services provider has lodged an action against Alvarez & Marsal to recover over US$5 million of allegedly fraudulent and preferential transfers – two days after it filed similar complaints against Baker Botts, Paul Weiss and Nielsen IP Law.
24 May 2022
Eversheds hires Alston & Bird partner to lead corporate debt advisory group
Eversheds Sutherland has hired a long-time Alston & Bird partner to chair its corporate debt advisory group in Atlanta, as part of ongoing efforts to grow its restructuring offering.
24 May 2022
Canadian court favours insolvency process over arbitration
A US-based sports management company has failed to stay a claim brought against it by insolvent advertising network Mundo Media, after a Canadian court ruled claims between the pair should be dealt with in receivership rather than by arbitration in New York.
23 May 2022
Alto Maipo receives court approval of Chapter 11 plan
Chilean hydroelectric project operator Alto Maipo has had its Chapter 11 plan approved by a Delaware court, after the company modified language related to third party releases in response to an objection by the US trustee.
20 May 2022
Piper Sandler hires new managing director in New York
Minneapolis-headquartered investment bank Piper Sandler has hired a 28-year Wall Street veteran and fellow of the American College of Bankruptcy as a manging director in New York.
20 May 2022
LATAM objecting creditors to reopen expert deposition
A group of creditors opposed to South American airline LATAM’s Chapter 11 plan have won the right to reopen the deposition of an FTI Consulting specialist who carried out a liquidation analysis of the group.
19 May 2022
Luckin Coffee JPLs: “Trust and transparency was key”
Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.
19 May 2022
Teneo hires new leaders in the US and Saudi Arabia
Teneo has appointed new leaders in the US and Saudi Arabia from lender and credit asset manager Golub Capital and financial services group Swicorp.
19 May 2022