Regional news: North America

Pinsent Masons recruits new banking head from Norton Rose Fulbright in Dubai

Norton Rose Fulbright partner Matthew Escritt has joined Pinsent Masons as its regional head of banking in Dubai, as many of the UAE’s formal restructurings are set to be postponed until next year in light of the pandemic.

12 June 2020

Latham & Watkins partner moves to Paul Weiss in New York

Paul Weiss has hired Latham & Watkins partner Andrew Parlen in New York, as the frenzy of lateral hires in global restructuring practices continues to gather pace.

09 June 2020

ENTREC wins Chapter 15 relief

A Canadian heavy haul transportation company has won expedited recognition of its CCAA proceedings, protecting funds secured under the US government’s emergency coronavirus relief legislation.

04 June 2020

Abu Dhabi’s NMC Health seeks US recognition to halt class actions

Scandal-hit Middle Eastern healthcare chain NMC Health is seeking recognition of its English administration proceedings in Delaware, in an effort to block two class actions launched by stockholders in California.

01 June 2020

J Crew wins rent relief in US

A US bankruptcy court has allowed apparel retailer J Crew to pause rent payments for two months, following similar orders handed down in Australia and England to protect retailers struggling from the covid-19 pandemic.

27 May 2020

Milbank and FTI Consulting advise as Internap exits Chapter 11

Global data infrastructure provider Internap has emerged from Chapter 11 bankruptcy less than two months after filing a pre-packaged plan, in one of the first cases to be commenced and consummated during the covid-19 pandemic.

15 May 2020

Neiman Marcus wins emergency Chapter 11 relief as consignors and creditors protest

The US luxury department store chain Neiman Marcus has secured provisional relief from a Texas Chapter 11 court allowing it to access new funding to see through a multibillion-dollar restructuring, despite objections from creditors and consignors.

14 May 2020

US removes sanctions on struggling Swedish oil refiner as PDVSA divests

Swedish oil refiner Nynas said it hopes to exit its administration process after the US announced it had removed sanctions imposed on the company last year under the Venezuela Sanctions Regulations.

14 May 2020

The world’s “most iconic” gym seeks Chapter 11 workout

International fitness chain Gold’s Gym is seeking Chapter 11 protection in Texas, claiming the covid-19 pandemic has left it unable to collect membership or ordinary franchising fees.

05 May 2020

Weil Gotshal, Lazard & AlixPartners advising as J Crew files Chapter 11

Following a novel restructuring through the transfer of its intellectual property in 2016, apparel retailer J Crew has filed for Chapter 11 protection in Virginia with an agreement from lenders to convert US$1.65 billion of the group’s debt into equity.

04 May 2020

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