Regional news: North America

New scheme notice requirements should not be bypassed, English court affirms

An English court has published its reasons for convening scheme of arrangement meetings for Luxembourg-incorporated Flint Group, after applying new creditor notice requirements for the first time.

14 July 2020

Boies Schiller adds bankruptcy partners in New York and London

Boies Schiller Flexner has bolstered its bankruptcy group with the former head of Lehman Brothers Holdings’ derivatives bankruptcy strategy in New York, and an ex-Brown Rudnick partner in London.

14 July 2020

Hong Kong court blocks use of Singapore Mareva order as evidence

The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.

13 July 2020

English court issues landmark Lehman sub-debt ruling

The High Court of Justice in London has ruled on the distribution of over US$10 billion in subordinated liabilities of two UK Lehman Brothers entities, reaching different conclusions on their priority rankings.

10 July 2020

LATAM's Brazil arm joins Chapter 11, as recognition granted in Chile and Colombia

LATAM Airlines Brasil has joined in the New York Chapter 11 proceedings of its South American parent, as the group secured recognition of its US bankruptcy in Chile and Colombia.

10 July 2020

Brooks Brothers enters Delaware Chapter 11 with auction plans

Weil and Richards Layton & Finger are advising one of the oldest US apparel retailers, which has sought bankruptcy protection as it plots to sell its assets and drop “burdensome” leases.

09 July 2020

FTI hires in Chicago

Daniel Wikel, the co-founder of global management consulting firm Huron Consulting Group, has joined FTI Consulting in Chicago.

09 July 2020

Satellite company OneWeb enters plan with UK government-backed consortium

London-based company OneWeb is seeking approval of its Chapter 11 plan support agreement with a UK-Indian consortium, which has agreed to step in as DIP lender and buy it out of bankruptcy.

09 July 2020

Estate of alleged German DHL fraudster seeks Florida recognition

The administrator of the estate of a German resident accused of defrauding multinational courier Deutsche Post is seeking US recognition of his German insolvency, in an effort to sell a Florida house.

09 July 2020

Sidley and Akin Gump advising as Travelex strikes restructuring deal

London-headquartered foreign exchange company Travelex has reached a restructuring agreement that will see its creditors take control and inject it with £84 million in new liquidity.

08 July 2020

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