Regional news: North America
Allegedly fraudulent data company files Ch15 in Florida
The Brazilian judicial administrator of a São Paulo-based data processing company accused of running a crypto pyramid scheme has applied for Chapter 15 recognition in Miami in an effort to help it examine witnesses and track down assets.
06 December 2023
New Silkroutes scheme sanctioned in Singapore
Singaporean healthcare and energy holding company New Silkroutes has obtained sanction of a pre-packaged scheme in Singapore through which its largest unsecured creditor, a Canadian real estate investment group, is set to take a majority stake in the company.
06 December 2023
US Supreme Court grapples with Purdue bankruptcy plan
In a highly anticipated hearing in the US Supreme Court, lawyers for scandal-hit drugmaker Purdue Pharma have argued that the company’s bankruptcy plan will unravel and “lives will literally be lost” if its former owners are not granted releases shielding them from future opioid-related litigation.
04 December 2023
Evergrande saved from winding up again
Embattled property giant Evergrande has successfully obtained a fifth adjournment to a winding up petition lodged against it in Hong Kong, as it reportedly tries to strike a fresh deal with creditors to avoid a formal liquidation.
04 December 2023
Mourant seeks to wind up Texas oil group over unpaid fees
Mourant has asked a Cayman Islands court to wind up an international oil and gas group’s Cayman parent in a long-running and hotly contested dispute over unpaid fees, which it argues the group hasn’t paid since 2019.
04 December 2023
E-House wins sanction of parallel interconnected schemes
Chinese real estate services group E-House has won sanction of parallel schemes of arrangement in Hong Kong and the Cayman Islands, as it prepares to re-file for Chapter 15 recognition after its first Cayman scheme broke down last year.
29 November 2023
Promotion roundup: Weil, Simpson Thacher, Cleary, White & Case and Interpath
Weil’s Houston office is gaining a new restructuring partner, Simpson Thacher is promoting in London, and Cleary is elevating a senior attorney in New York, as White & Case names four new partners across the US and Europe for 2024, and Interpath promotes two new directors.
28 November 2023
GenesisCare Chapter 11 plan confirmed in Texas
Global cancer care and radiotherapy specialist GenesisCare has secured confirmation of a Chapter 11 plan in Texas to shave off US$1.7 billion from its US$2 billion debt pile.
27 November 2023
Capital Solutions Financings: Yield Driving Structure
Featured in Americas Restructuring Review 2024
27 November 2023
Investment Fund Activity in US Debt Restructurings
Featured in Americas Restructuring Review 2024
27 November 2023