Regional news: North America

Chapter 15 court finds online privacy limits turnover rights in Irish asset-stripping investigation

A Delaware bankruptcy court has refused a request from foreign representatives of the Irish Bank Resolution Corporation (IBRC) to force Yahoo! to hand over emails allegedly linked to the concealment of up to €2.8 billion by the family of Seán Quinn – formerly the Republic of Ireland’s richest man.

11 November 2016

A game of two halves: US-Canadian sports retailers pursue restructuring plans

Two US-Canadian sports retailers have advanced their restructuring efforts this week: Performance Sports has commenced parallel bankruptcy proceedings in the US and Canada, while Golfsmith has received court approval of a restructuring plan that will see virtually all of its assets sold in both jurisdictions.

08 November 2016

Former Florida judge joins Bryan Cave in Miami

Bryan Cave has recruited a former Florida Circuit Court judge, Jorge Perez, as partner in its bankruptcy, restructuring & creditors' rights group in Miami.

04 November 2016

Final roll of the dice as Atlantic City fights to escape state takeover

Atlantic City officials and their advisers were scrambling to assemble a revised recovery plan by Thursday night to avoid a state takeover, after New Jersey officials rejected the city’s five-year proposal to create financial stability for the troubled gambling hub.

03 November 2016

US court gives trustee control over China Fishery’s Peruvian business

A New York court has agreed to the appointment of a Chapter 11 trustee to administer crucial Peruvian assets of the industrial fishing conglomerate China Fishery Group, taking control of the business partially out of the hands of its directing family.

02 November 2016

New York court rejects “misguided” OW Bunker maritime liens claims

A New York district court has rejected claims that bankrupt ship fuel supplier OW Bunker holds maritime liens against five ships whose owners failed to pay it for contracted fuel deliveries, dismissing a cluster of applications brought by ING Bank as the group’s security agent.

01 November 2016

Texas Judge freezes hedge fund manager’s assets in bankrupt creditor fraud suit

A Texas judge has frozen over US$118 million in assets belonging to hedge fund manager Platinum Partners, following a fraud suit brought by the bankruptcy trustee of one of the company’s collapsed creditors.

28 October 2016

San Francisco: IWIRC presents rising star award to former Hong Kong network chair

The International Women’s Insolvency and Restructuring Confederation has presented its 2016 rising star award to the immediate past chair of its Hong Kong network, Stephenson Harwood associate Eloise Fardon, as it sets off on a mission to strengthen its local networks worldwide.

27 October 2016

US airline settles US$70 million Canadian claim in staffing-fuelled Chapter 11 case

US airline Republic Airlines has reached a settlement with a Canadian creditor to cancel a US$72 million claim in Chapter 11 proceedings launched to tackle a shortfall in human, rather than working, capital.

26 October 2016

Hanjin to wind down European operations as international assets go up for sale

A South Korean court has granted bankrupt cargo hauler Hanjin permission to wind down its European operations, as parts of the global group’s other assets go up for sale.

25 October 2016

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