Regional news: North America

Kirkland & Ellis partner moves to Latham & Watkins in New York

Latham & Watkins has continued its recent hiring spree with the addition of Kirkland & Ellis partner George Klidonas in New York.

07 July 2020

Creditors approve AllSaints CVAs as Chapter 15 recognition granted

Creditors of the British retailer AllSaints have overwhelmingly approved its company voluntary arrangements comprising leases in the UK and North America, though one objector was carved out of a US recognition order.

07 July 2020

Swissport scheme becomes effective with US recognition

Chinese-owned aviation services company Swissport has won Chapter 15 recognition of its English scheme in Delaware, which has now become effective.

07 July 2020

McDermott exits Chapter 11 after “complicated” sale of subsidiary

Global oil and gas engineering powerhouse McDermott International has emerged from bankruptcy after the sale of its technology licensing subsidiary allowed it to pay off a US$2.81 billion debtor-in-possession finance package.

06 July 2020

Davis Polk promotes partner in New York

Davis Polk & Wardwell has promoted Natasha Tsiouris in its New York restructuring group as part of a round of partner promotions.

06 July 2020

Mexican retailer files pre-pack Chapter 11 in New York

Mexican loan to own retailer Grupo Famsa has filed a pre-packaged Chapter 11 plan to restructure a single series of notes that were due in June, after covid-19 prevented it from refinancing them with further borrowing.

02 July 2020

Aeroméxico becomes latest LatAm airline to file Chapter 11 in New York

Mexico’s second-largest airline Aeroméxico has filed Chapter 11 proceedings in New York, following in the steps of Colombian-Panamanian airline Avianca and South America’s largest passenger carrier Latam.

02 July 2020

Cirque Du Soleil shareholders looking to steal the show in CCAA auction

Stikeman Elliott, Kirkland & Ellis and Pachulski Stang are advising the internationally recognised  circus production company Cirque du Soleil in CCAA proceedings in its native Québec.

01 July 2020

Policy-related complexities in parallel, cross-border insolvency and arbitration proceedings

“A party seeking to arbitrate claims against a debtor in a US bankruptcy proceeding faces an uphill climb”: lawyers from Vinson & Elkins explore some of the practical issues stemming from different policy considerations behind insolvency and arbitration laws across Europe and the US.

01 July 2020

Vitamin retailer GNC plots dual track pre-pack in US and Canada

Global nutrition supplement retailer GNC has entered Chapter 11 in Delaware and CCAA recognition proceedings in Ontario, where it will pursue a  “dual path process”.

01 July 2020

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