Regional news: North America

Cayman oil company wound-up after Canadian action withdrawn

An Australian litigation funder has obtained a Cayman winding-up order against a client that had its arbitral award sequestered in Albania, after withdrawing enforcement proceedings in Canada.

08 March 2021

California court reverses recognition of Australian judgment

An Australian woman’s US$1.2 million claim in a skin care manufacturer’s US bankruptcy has been thrown out after a California district court reversed the recognition of an Australian judgment.

05 March 2021

Regis CVA trial continues as fairness amendment rejected

Landlords challenging the defunct Regis CVA will not get a chance to argue that it’s unfair for uncompromised creditors to bind compromised creditors, after the High Court in London found a late request to amend their particulars of claim was an attempt at a second bite of the cherry.

05 March 2021

Valaris rescue plan confirmed

UK-incorporated offshore drilling contractor Valaris has had its Chapter 11 restructuring plan confirmed, after a Texas court overruled a shareholder’s objection and the company resolved other challenges.

04 March 2021

Regis CVA challenge kicks off in UK

Lawyers acting for landlords of UK hairdressing chain Regis have told the High Court that the CVA it launched in 2018 was “a million miles away from what was envisaged” when the tool was conceived 40 years ago.

03 March 2021

Bryan Cave restructuring head to join Simmons & Simmons in London

Simmons & Simmons has hired Bryan Cave Leighton Paisner’s EMEA head of restructuring in London, labelling the practice area “an investment priority” for the firm.

01 March 2021

Europcar completes restructuring, receives US recognition

A New York court has recognised car rental firm Europcar’s French restructuring, a day after a Paris court approved its accelerated financial safeguard plan to reduce its debt by €1.1 billion.

01 March 2021

Takata trustee avoids service under the Hague Convention

The trustee of a compensation trust set up as part of Takata’s Chapter 11 plan has been allowed to serve an adversary proceeding on a Japanese insurance company’s US counsel, after a Delaware court found the costs of complying with the Hague Convention for service overseas would reduce funds available to victims of its faulty airbags.

25 February 2021

Cayman avoidance order overturned against Canadian businessman

An avoidance order handing shares in a Canadian businessman’s companies to his Cayman bankruptcy trustee has been overturned by a Cayman appeal court, but litigation against his wife is set to continue.

25 February 2021

Sycamore-owned Belk seals record-breaking Ch11 plan

American department store chain Belk has secured the fastest ever confirmation of a pre-packaged Chapter 11 plan, with Kirkland & Ellis, Latham & Watkins, O’Melveny & Myers and Willkie Farr all taking instructions.

24 February 2021

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