Regional news: North America

Deutsche Bank and JP Morgan settle claims over Washington Mutual default

JP Morgan Chase and Deutsche Bank have agreed a settlement with the receiver of the US banking group Washington Mutual’s estate, bringing an end to several long-running litigations arising from the bank’s 2008 collapse.

23 August 2016

IWIRC announces new directors for 2016-17

The International Women’s Insolvency and Restructuring Confederation (IWIRC) has revealed a list of 39 restructuring specialists from across the globe who will sit on its board for 2016 to 2017, serving under new chair Nancy Valentine of US firm Ice Miller.

22 August 2016

Morrison & Foerster and Felsberg advise on alternative plan for Oi

Morrison & Foerster and Brazilian firm Felsberg Advogados are working on an alternative restructuring plan for Brazilian Telecoms company Oi, along with São Paulo–based consultancy Integra Associados, and New York investment banking boutique ACGM.

19 August 2016

Asset recovery column: Claims and relief available in cross-border bankruptcies – limitless possibilities

Ed Davis and Annette Escobar, founding member and partner at Astigarraga Davis in Miami, discuss possible claims and remedies available via adversary cases in the context of a Chapter 15 application before the US courts.

15 August 2016

US court examines jurisdiction, rejects motion to compel Chapter 15 debtor to perform contracts

A judge in Illinois has become the latest to examine the scope of a US bankruptcy court's jurisdiction, denying a motion to compel a Canadian gaming company in the throes of Chapter 15 proceedings to perform a series of contracts with a customer in the US.

15 August 2016

Alan Resnick 1947-2016

Friends and colleagues have been paying tribute to New York bankruptcy lawyer and professor Alan Resnick, who died at the end of July aged 68.

12 August 2016

Haynes & Boone hires “Chapter 15 thought leader”

Former Proskauer cross-border insolvency specialist Geoffrey Raicht has joined Haynes & Boone in New York.

11 August 2016

Who will manage Providence funds, Chapter 7 trustee or receiver?

Courts in Miami and Minnesota are considering whether a bankruptcy trustee, receiver or both should manage two US subsidiaries of global investment group Providence Financial, which are in liquidation following a federal investigation into their sale of Brazil-related investment opportunities.

10 August 2016

Davis Polk advises as Dutch e-commerce company sells Brazilian subsidiary

Netherlands-headquartered e-commerce company Cnova has entered into a binding reorganisation agreement to sell its major Brazilian subsidiary to an affiliated local retail group, with Davis Polk & Wardwell advising the buyer.

10 August 2016

Isolux gains provisional relief in New York

A New York court has granted interim provisional stays to prevent disruption to the bankruptcy proceedings of global engineering group Isolux Corsan in Amsterdam and Madrid.

04 August 2016

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