Regional news: North America

English court grants Dutch Hema single class scheme meeting

An English court has let Dutch retailer Hema hold a creditors’ vote on the English scheme that is key to its planned multi-jurisdictional restructuring in the UK, the US and the Netherlands.

29 July 2020

Brazilian court approves Odebrecht’s results-based reorganisation plan

A Brazilian court has approved a restructuring plan for non-operating companies in Brazil’s Odebrecht group, which will see it pay creditors with the proceeds of asset sales and new, profit-sharing securities.

29 July 2020

European digital technologies group seeks recognition in New York

The CEO of Paris-registered digital technologies specialist Ymagis has applied for recognition of its French insolvency proceedings in New York, just months after it agreed a €52 million restructuring.

29 July 2020

Texan trustee seeks UK’s help in suspected brotherly bankruptcy fraud

The Texan trustee of a discharged bankrupt now suspected of possible bankruptcy fraud with his brother, is using the UK’s cross-border insolvency law to try to access a London Thameside property.

28 July 2020

Hyflux banks prepare judicial management application

An unsecured group of Hyflux’s bank lenders are preparing an application to place it under judicial management, while the embattled Singaporean company has also received new proposals from US and UAE investors.

28 July 2020

English court sanctions scheme for British retailer Matalan

An English judge has approved Guernsey-owned British fashion and homeware retailer Matalan’s scheme of arrangement, for which it will seek US recognition in the coming days.

27 July 2020

Puerto Rico racketeering claims temporarily withdrawn

A former Paul Hastings bankruptcy lawyer that accused his old firm and other prominent parties of racketeering in Puerto Rico has withdrawn his complaint – but says he plans to re-file it.

24 July 2020

Stikeman Elliott hires IWIRC award-winner from DLA Piper

Stikeman Elliott has hired a Canadian silk from DLA Piper to join its Calgary and Vancouver branches as a regional leader of its restructuring practice.

23 July 2020

Paragon shareholder again fails to challenge UK-US restructuring

A former shareholder of oil services company Paragon, who failed repeatedly to challenge its Chapter 11 plan, has now failed to challenge its UK administration too.

22 July 2020

Canadian cannabis company’s noteholders lose bid to cross-examine director

Noteholders of insolvent Canada-based cannabis company Eureka 93 have lost a bid to cross-examine its co-founder ahead of a vote on a restructuring proposal that will turn them into unsecured creditors.

22 July 2020

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