Regional news: North America

Canadian court upholds anti-deprivation rule

The Supreme Court of Canada has upheld the common law "anti-deprivation" rule that parties cannot enforce contractual provisions triggered by insolvency where they remove value otherwise available to creditors.

07 October 2020

MoFo hires bankruptcy litigator from Katten in New York

A Katten Muchin Rosenman bankruptcy litigation partner, who worked on the cross-border restructuring of Pacific Exploration, has moved to Morrison & Foerster in New York.

06 October 2020

Codere’s English scheme sanctioned after creditor drops opposition

An English court has sanctioned a scheme of arrangement for Spanish gaming company Codere, after a Cayman creditor withdrew its opposition and voted to approve it.

06 October 2020

Condor seeks recognition of German proceedings in US and Mexico

German airline and former Thomas Cook subsidiary Condor is seeking Chapter 15 recognition of its protective shield proceedings in Frankfurt to stop a trio of litigations in the US that it says contravene German law.

05 October 2020

Jackson Walker, Munsch Hardt and Weil advise as Texas takes on more Chapter 15s

Jackson Walker is helping British restaurant chain PizzaExpress seek recognition of its UK restructuring plan in Texas, while Munsch Hardt Kopf & Harr and Weil Gotshal & Manges are advising two Canadian energy companies on separate recognition cases in the same court.

05 October 2020

White & Case hires Sidley’s restructuring co-chairs in New York and Chicago

White & Case has hired three partners from Sidley Austin, including the co-chairs of its restructuring practice, Jessica Boelter and Bojan Guzina, who were just a few months into their new roles.

02 October 2020

Selecta to poll creditors and file Chapter 15 for English scheme

Switzerland-headquartered vending machine operator Selecta will hold a creditor vote on its English scheme of arrangement and seek recognition of it in the US, after winning permission to do so from a London court today.

02 October 2020

Kirkland & Ellis promotes in US, Europe and Asia

Kirkland & Ellis has promoted 13 new restructuring and debt finance partners across the US and in Munich, London and Hong Kong.

02 October 2020

Sweeping release sends cannabis company’s plan up in smoke

New York-based marijuana operator iAnthus Capital Holdings has days to review its Canadian plan of arrangement after a British Columbia court rejected a sweeping release that would have shielded the company and its directors from ongoing shareholder suits in the US and Canada.

01 October 2020

New York court receives recognition requests for two Bermudian proceedings

The provisional liquidators of a Bermuda-incorporated investment holding company and the liquidators of a Bermudian water company are seeking Chapter 15 recognition of their appointments, in separate proceedings filed in New York in September.

01 October 2020

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