Regional news: North America

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.

19 October 2020

Two weeks after hiring the co-chairs of Sidley Austin’s global restructuring practice, White & Case has picked up another partner from the firm in Chicago.

16 October 2020

UK retailer New Look has been prevented from entering examinership in Ireland, after a court found it had wrongly claimed to be facing imminent insolvency and ordered it to negotiate with disgruntled landlords.

15 October 2020

Alvarez & Marsal has been appointed to act as monitor of California-based cannabis company Sunniva Group, which obtained an initial order from a Canadian court under the Companies' Creditors Arrangement Act last week.

14 October 2020

Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.

14 October 2020

A New York court has recognised the reorganisation of a Java-based textile group, as part of a multinational restructuring that has seen proceedings play out in the US, Indonesia and Singapore.

13 October 2020

A global group of satellite technology companies has secured preliminary US recognition of its Canadian restructuring in Minnesota despite creditor objections – while Swiss vending machine company Selecta has secured the same relief for its English scheme of arrangement in Texas.

12 October 2020

Five lawyers with restructuring experience have been promoted to partners in White & Case's London, New York, Frankfurt and Paris offices, effective from January 2021.

12 October 2020

A British Columbia court has approved a revised restructuring plan for New York-based marijuana company iAnthus, telling opposing shareholders that not doing so would reward parties bringing “tactical” litigations at the expense of those with less “aggressive” lawyers.

08 October 2020