Regional news: North America

New York court says UK law avoidance claims in Hellas action belong in England

A New York Bankruptcy court hearing an adversary action filed by the liquidators of Greek telecoms company Hellas has temporarily stayed its proceedings, finding that their UK law avoidance claims against a group of US defendants should be heard in England.

01 September 2016

Puerto Rico’s Magnificent Seven

GRR profiles President Obama’s appointments to the seven-member board that will deal with Puerto Rico's US$72 billion debt pile - as well as the representative who will sit on the board on behalf of the Island's governor.

01 September 2016

US court maintains putative class action over defunct bitcoin exchange

A US district court has rejected a Japanese bank’s motion to dismiss a putative class action lawsuit alleging that it unjustly profited while managing an account for the now-bankrupt Japanese bitcoin exchange Mt Gox – once the world’s largest such exchange.

31 August 2016

Creditors to vote on Primorsk’s liquidation plan following ship sale

A New York bankruptcy court has given a green light to Cyprus-registered shipping company Primorsk International to begin canvassing votes on a liquidation plan, after restructuring negotiations with senior lenders broke down earlier this year.

26 August 2016

Alvarez & Marsal hires Macquarie restructuring MD in Atlanta

Alvarez & Marsal has hired David Miller, managing director of restructuring at investment bank Macquarie Capital, for its Atlanta office.

26 August 2016

Cayman court appoints liquidators over hedge fund accused of fraud

A court in the Cayman Islands has appointed joint liquidators to wind down the flagship offshore arm of hedge fund group Platinum Partners, which is facing investigations in the US over alleged fraud.

25 August 2016

China Fishery's state-owned lenders object to Chapter 11 trustee

Chinese state-owned lenders to the bankrupt industrial fishing conglomerate China Fishery Group have filed a string of objections in a US court, after an international consortium of financiers moved to appoint a Chapter 11 trustee.

24 August 2016

Pacific Exploration gets go-ahead on debt deal

Canadian-Colombian oil company Pacific Exploration has won court approval in Canada for its restructuring deal with Canadian financier Catalyst.

24 August 2016

Duff & Phelps moves London head to Hong Kong, recruits in New York

Advisory firm Duff & Phelps has relocated one of its London leaders to Hong Kong following predictions of an increase in defaults in the Asia region, while its New York office has hired a new managing director from Deloitte.

24 August 2016

BRUSSELS: six points to consider when shifting COMI

A recent debate in Brussels considered the virtues of different insolvency regimes in the US and EU for the purpose of choosing a centre of main interest (COMI) – and found that forum shoppers are probably best off in America.

23 August 2016

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