Regional news: North America

Judge approves Pyxus Chapter 11 despite shareholder revolt

Simpson Thacher and Delaware’s Young Conaway Stargatt & Taylor have helped global tobacco-turned-hemp producer Pyxus get confirmation of its pre-packaged Chapter 11, after a revaluation request from wiped-out shareholders was waved off.

27 August 2020

DLA Piper in Canada gains two from Gowling

DLA Piper has hired Gowling WLG’s former national restructuring leader Colin Brousson and associate Jeffrey Bradshaw for its Vancouver office.

26 August 2020

Hema scheme approved in England

The High Court in London has sanctioned Dutch retailer Hema’s English scheme of arrangement, allowing it to restructure €600 million of senior secured notes as part of a comprehensive, multi-jurisdictional financial restructuring.

24 August 2020

Isle of Man investment company seeks US recognition

An Isle of Man-incorporated investment company is seeking Chapter 15 recognition of its creditors’ voluntary liquidation, following a “lack of cooperation” that has prevented its liquidators from investigating the company’s US assets.

24 August 2020

Hema seeks US recognition after creditors back UK scheme

Dutch retailer Hema has asked a New York court to recognise its UK scheme of arrangement, hours after a majority of scheme creditors voted to approve it.

21 August 2020

Avianca launches bid for DIP funding as it navigates Chapter 11 restructuring

Colombian-Panamanian airline Avianca has announced it has reached “key agreements” with lenders to obtain debtor-in-possession (DIP) financing as it continues to restructure through a Chapter 11 process in New York.

21 August 2020

Quinn Emanuel and Kirkland advising as NMC plans administration in Abu Dhabi

Scandal-hit UAE hospital operator NMC Healthcare is planning to file for administration in Abu Dhabi’s financial free zone, four months after its London-listed holding company entered administration in England.

20 August 2020

World’s largest offshore rig owner files Chapter 11 with Kirkland and Slaughters advising

London-incorporated offshore drilling contractor Valaris has filed Chapter 11 proceedings in Texas to deal with its US$7 billion debt pile, with plans to launch at least one parallel process in the UK.

20 August 2020

Brown Rudnick recruits Baker & Hostetler partner in Washington DC

Baker & Hostetler partner Eric Goodman, who has credits on the Takata and PG&E bankruptcies, has moved to Brown Rudnick in Washington, DC.

20 August 2020

Curtis restructuring chair moves to Dentons in New York

Dentons has hired the chair of Curtis Mallet-Prevost Colt & Mosle’s restructuring group as a partner in New York.

19 August 2020

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