Regional news: North America

Canadian stay lifted in Cayman recognition case

A Canadian court has set aside an automatic stay granted to a married couple appealing the recognition of two Cayman orders made against them, finding it hindered investigations into their assets.

14 December 2020

English court approves Swissport’s second scheme, cautions third party objectors

Chinese-owned aviation group Swissport has had its second English scheme of arrangement sanctioned, with the court calling for “tighter direction” on unaffected third parties making and withdrawing objections.

11 December 2020

Opposing creditors withdraw objections as Swissport seeks scheme sanctioning

An ad hoc group of Swissport’s senior unsecured noteholders has dropped its challenges to the Chinese-owned aviation group’s English scheme, just as the sanction hearing was due to start.

10 December 2020

Ankura hires from Goldman Sachs

Business advisory firm Ankura has strengthened its turnaround and restructuring group in New York with a new senior managing director from Goldman Sachs.

10 December 2020

Eastman Kodak re-opened, but shutter closes on discharge claims

After persuading a New York judge to re-open the long-finished Eastman Kodak bankruptcy, a group of underwriters at Lloyd’s has failed to convince him the Chapter 11 case discharged their asbestos claims obligations for a company dissolved in 1971.

10 December 2020

English court grants Petra Diamonds single class scheme meeting

An English court has allowed a subsidiary of Bermuda-incorporated, Jersey-headquartered African diamond miner Petra Diamonds to convene a scheme meeting and seek Chapter 15 recognition in the US.

09 December 2020

White & Case hires two former Ropes & Gray co-chairs

White & Case has hired two Ropes & Gray restructuring veterans in New York and Boston, who both formerly served as co-chairs of its global restructuring practice.

08 December 2020

Intelsat’s former 5G spectrum rollout partner sets out US$1.8 billion claims

A case of “corporate desperation, greed and dishonesty” is how the one-time partner of bankrupt satellite company Intelsat has framed alleged bad faith and breach of contract claims that it has been allowed to bring against the debtor in a two-week trial next June.

08 December 2020

IWIRC launches Korea network

The International Women’s Insolvency & Restructuring Confederation has launched a new network in Korea, led by AlixPartners director Jungmin Lee and Alvarez & Marsal manager Jiwon Nam.

08 December 2020

Former Steinhoff CRO Heis returns to KPMG

KPMG’s former global head of restructuring Richard Heis has returned to the Big Four firm, three years after he retired from its partnership.

07 December 2020

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