Regional news: North America

Judge Arthur Votolato 1930-2017

Arthur Votolato, former Chief Judge of the First Circuit Bankruptcy Appellate Panel, who has been described as “truly one of the great pioneering bankruptcy judges”, has died at the age of 86.

02 June 2017

Canadian court rejects Essar Steel motion in landmark DIP extension ruling

A Canadian court has rejected an attempt by bankrupt steel producer Essar Steel Algoma to extend a DIP loan, despite the proposal attracting support from DIP lenders, noteholders, and the court-appointed monitor, Ernst & Young.

01 June 2017

Canadian music company seeks Chapter 15 relief in harmony with Canadian stay

A company that provides background music to shops has sought Chapter 15 protection in New York, citing concerns that creditors will not respect the stay imposed by the Ontario court overseeing its restructuring.

24 May 2017

Norwegian oil explorer seeks Chapter 15 protection for Bermudan scheme

Norway-based oil driller Archer has sought Chapter 15 recognition in Texas of scheme proceedings pending before a Bermudan court.

23 May 2017

Community roundup: New appointments at Pepper Hamilton, Gardere Wynne Sewell and CMS

Pepper Hamilton, Gardere Wynne Sewell and CMS Cameron McKenna Nabarro have all witnessed lateral partner hires and promotions over the past few weeks, while consultancies announced changes at the top in England, Scotland and Canada.

22 May 2017

Court-to-court protocol proposed in Ocean Rig case, as objections mount in New York

The provisional liquidators of oil rig operator Ocean Rig have applied to establish a court-to-court protocol to administer its insolvency proceedings in the Cayman Islands alongside a disputed Chapter 15 case in New York.

18 May 2017

Administrator of Batista mining arm files Chapter 15 case amid fraud allegations

The Brazilian administrator of a bankrupt EBX Group mining company has filed a Chapter 15 petition in Florida, telling the court he needs to “investigate the business, affairs, and worldwide dealings” of the miner’s owners who, he alleges, may have defrauded creditors.

17 May 2017

Liquidators of alleged Australian-Israeli tax evasion scheme seek US relief

The liquidators of four companies alleged to have been used to conceal the wealth amassed by an Australian family through a lucrative juice business have sought assistance from US courts under Chapter 15.

15 May 2017

New York court throws out suit against DLA Piper over collapse of Cayman investors

A US district court has dismissed claims by liquidators from Grant Thornton that counsel from DLA Piper helped to misappropriate US$36 million prior to the collapse of two Cayman Islands investment vehicles.

10 May 2017

“Breaking point” – how Puerto Rico finally went to court

After years of legal wrangling and negotiations with bondholders, Puerto Rico has filed for court protection in San Juan, citing debts of US$74 billion; GRR traces the final movements that led to the opening of the biggest local government bankruptcy proceeding in US history.

04 May 2017

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