Regional news: North America

Hong Kong trustees block Canadian contempt appeal

The son of a scandal-hit Chinese businessman has failed to overturn a Canadian contempt of court order, after refusing to attend an examination by his father’s Hong Kong bankruptcy trustees.

22 June 2021

DLA Piper hires two in the US

DLA Piper has bolstered its US restructuring practice with partners from Milbank and Kirkland & Ellis.

21 June 2021

“One in a million”: Judge Cornelius Blackshear 1939-2021

Former Southern District of New York bankruptcy judge Cornelius Blackshear, who oversaw the Chapter 11 case of US airline Pan Am and was the first African American to be appointed as a US Trustee, has died at the age of 81.

18 June 2021

Willkie Farr & Gallagher hires in Chicago

Willkie Farr & Gallagher has bolstered its restructuring practice in Chicago with a partner from DLA Piper.

17 June 2021

Luckin Coffee completes restructuring milestone with capital reduction

Chinese coffeehouse chain Luckin Coffee says it has reached a financial milestone in its restructuring agreement with senior noteholders, after securing regulatory approval to transfer certain funds out of China.

16 June 2021

Construction group winds down after Greensill collapse scuppers refinancing

A prefabricated construction company and former Greensill client with factories in the US, India and Saudi Arabia has entered Chapter 11 in Texas to sell off its assets and wind down, with the help of a US$35 million debtor-in-possession promissory note from a UK-based Softbank entity.

15 June 2021

Round-up: new hires for advisory firms across Europe

Alvarez & Marsal has hired a managing director from Deloitte in Germany, while RSM has lost two practitioners in Ireland and London, but added a partner in Leeds - and US global credit manager GoldenTree has welcomed a new European restructuring head in London.

15 June 2021

Indian conglomerate secures English scheme meeting

A Dutch subsidiary of Indian multinational conglomerate Jain Irrigation Systems has won permission to poll creditors on its English scheme of arrangement while the group seeks a connected restructuring in India.

14 June 2021

New York suit dismissed after furniture maker files German insolvency action

German furniture manufacturer Münsterland Gruppe has successfully thrown out a breach of contract claim in New York after a US district court granted comity to its German insolvency proceedings.

14 June 2021

Samarco tables US$10 billion restructuring plan

One month after securing Chapter 15 recognition in New York, Brazilian miner Samarco Mineração has proposed a judicial reorganisation plan that could see unsecured creditors take an 85% haircut on their claims.

11 June 2021

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