Regional news: North America

Voyager Ch11 recognised in Canada as New York court approves customer returns

Canadian cryptocurrency brokerage Voyager Digital has secured recognition of its Chapter 11 bankruptcy as a foreign main proceeding in Toronto, on the same day a New York court granted it permission to return US$270 million to customers from two custodial accounts.

05 August 2022

Dechert hires Kramer Levin duo in New York

Continuing the recent expansion of its global restructuring group, Dechert has added two partners from Kramer Levin Naftalis & Frankel in New York and vowed to continue recruiting in the US.

04 August 2022

Canadian tech group enters Ch11, Australian subsidiary in liquidation

Canada-listed software logistics business GetSwift Technologies has sought Chapter 11 protection in New York, days after its Australian subsidiary entered liquidation after being found liable last year for making misleading statements to the Australian Securities Exchange about customer agreements with the likes of Amazon.

03 August 2022

Akin Gump partner joins Gibson Dunn in Dallas

Gibson Dunn & Crutcher has hired a Dallas-based finance partner from Akin Gump Strauss Hauer & Feld who worked on the restructurings of satellite giant Intelsat and multinational logistics group CEVA.

03 August 2022

Crédito Real Ch11 moves to Delaware

Shadow bank Crédito Real has won a New York court’s approval to transfer its involuntary Chapter 11 case to Delaware, where it sought recognition of its Mexican liquidation last month.

02 August 2022

Bennett Jones, KSV appointed as cannabis multinational secures protection in Canada

Cannabis group MPX International has obtained interim Companies Creditors Arrangement Act protection in Canada – including for a list of non-applicant foreign subsidiaries – as it looks to sell its business.

01 August 2022

Three Arrows Capital JLs obtain Chapter 15 recognition in New York

The British Virgin Islands joint liquidators of crypto hedge fund Three Arrows Capital have obtained Chapter 15 recognition in New York, with the court allowing certain secured creditors to enforce their debts.

29 July 2022

Pallas Partners transatlantic expansion an “opportunity to reunite” says ex-Boies Schiller founder

Pallas Partners, the London litigation and disputes boutique founded by the former deputy chair of Boies Schiller Flexner Natasha Harrison in February, has announced it is expanding internationally to New York with the hire of an old colleague.

29 July 2022

LATAM claimholders fail to certify plan appeal to Second Circuit

Unsecured claimholders of a LATAM Airlines affiliate have stumbled again in their attempts to receive post-petition interest under the airline’s confirmed Chapter 11 plan, after a New York court dismissed a motion to certify their appeal directly to the Second Circuit.

29 July 2022

Voyager rebuffs “low-ball” bid from rival crypto exchange consortium

Bankrupt Canadian cryptocurrency lender Voyager Digital, whose Chapter 11 has now been recognised in Ontario, has rejected a bid from a consortium advised by Sullivan & Cromwell, in an exchange of letters that depicts some of the risks around the different ways crypto assets may be treated in bankruptcy.

27 July 2022

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