Regional news: North America

A “fearless” pioneer of the global restructuring industry and influential driver of US bankruptcy law reform, Bill Brandt has died at the age of 73.

06 June 2023

A cryptocurrency exchange’s Cayman provisional liquidators and Singaporean interim judicial manager have sought Chapter 15 recognition of the respective proceedings they are overseeing in Florida, to pursue funds allegedly stolen by the group’s managers.

06 June 2023

One of São Paulo’s largest sugar and ethanol manufacturers, Clealco, has secured court approval for one of the first major debtor-in-possession financing agreements since the 2021 reforms to Brazil’s bankruptcy code.

05 June 2023

GenesisCare, a KKR-backed Australian cancer care group, has secured a worldwide stay and access to a debtor-in-possession facility in Texas, as it seeks to sell its US business to investors who can implement a ready-to-go turnaround plan.

02 June 2023

Two years and three plans down, Brazilian miner Samarco, its shareholders and creditors have finally reached a binding restructuring agreement that will need to be approved by a Brazilian bankruptcy court and recognised in New York.

01 June 2023

A Kentucky entity set up by Australia-based businessman Kenneth Wikeley has been reprimanded for violating a Chapter 15 stay obtained by liquidators appointed over the trustee of his family trust, which has been accused of fraud by a purported investor.

01 June 2023

Cash-strapped cash machine manufacturer Diebold Nixdorf has signed a restructuring support agreement with key creditors, as it set its sights on finishing a pre-packaged Chapter 11 and Dutch scheme within 80 days, with help from Jones Day and Jackson Walker.

31 May 2023

Purdue Pharma’s restructuring plan has been reinstated after a lengthy appeal – but the Second Circuit, conflicting with the Third Circuit, found the bankruptcy court that originally authorised the plan lacked constitutional authority to enter a final order approving releases for its non-debtor owners.

31 May 2023

O’Melveny & Myers’ former US restructuring co-chair has joined Gibson Dunn & Crutcher in New York, just over a month after O’Melveny recruited one of Gibson Dunn’s partners in London.

31 May 2023

In a case that could have significant repercussions for the rights of Native American tribes, the US Supreme Court is set to decide whether the Bankruptcy Code “unequivocally expresses” the intent of Congress to abrogate tribal sovereign immunity.

26 May 2023