Regional news: North America

English court sanctions KCA Deutag’s scheme

International oil and gas services company KCA Deutag has secured court sanction of its English scheme, which its lawyers say is likely to be given effect in Russia, Oman, Norway, Germany and the US.

05 November 2020

New York court weighs in on “excessive” investment banker fees

Months after it approved a restructuring plan for telecoms company Frontier Communications, a New York court has appointed Evercore Group as its financial adviser and set its fees at a “reasonable” level, after repeat objections from creditors that they were “excessive”.

04 November 2020

Bermudian insurer’s provisional liquidators look to seize US investments

The Bermudian provisional liquidators of an insolvent insurance company have requested Chapter 15 recognition of their appointment in Florida, seeking to take control of its US assets following regulatory breaches at the company.

04 November 2020

Proskauer Rose dodges Antiguan Ponzi claim

Antiguan liquidators have been prevented from serving a claim on Proskauer Rose in the US, after a Caribbean appeal court said allegations the firm failed to stop the Stanford International Bank Ponzi scheme, could not be tried locally.

03 November 2020

Stephenson Harwood adds partner in London

Bryan Cave Leighton Paisner partner Ian Benjamin has moved to Stephenson Harwood in London.

03 November 2020

Katten hires two and promotes one

Katten Muchin Rosenman has hired partners from White & Case and Paul Hastings in New York and promoted one restructuring lawyer in Chicago.

03 November 2020

Pacific Drilling enters Chapter 11 again

Luxembourg and Houston-based drilling ship contractor Pacific Drilling and 18 of its domestic and international subsidiaries have filed voluntary petitions for a speedy pre-packaged Chapter 11 restructuring in the Southern District of Texas, three years on from the group’s last bankruptcy.

02 November 2020

Indian software company files voluntary Chapter 11

An Indian IT company has placed six of its subsidiaries in voluntary Chapter 11 bankruptcies in Alabama, after creditor-driven proceedings filed against it in Mumbai were stalled.

30 October 2020

Latham & Watkins announces January promotions

Latham & Watkins has announced promotions for two members of its restructuring and special situations group in London and Hamburg, as five other lawyers with relevant experience are also elevated across the firm.

30 October 2020

UK court sanctions Pizza Express restructuring plan

British casual dining chain Pizza Express has secured court sanction of its restructuring plan, despite a challenge to its company voluntary arrangement whose approval last month was a condition of its overall rescue.

29 October 2020

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