Regional news: North America

Israeli court appoints manager for property developer in Canadian bankruptcy

An Israeli court has appointed a manager to draft a settlement for Israeli creditors of a distressed Canadian property developer, days after it filed for bankruptcy protection in Canada.

26 April 2016

Norton Rose, Proskauer and Garrigues advise Pacific Exploration on restructuring

Canadian-Colombian oil company Pacific Exploration has reached a deal with an investment group to restructure most of its US$5 billion debt, advised by Norton Rose Fulbright in Canada, Proskauer Rose in the US and Garrigues in Colombia.

20 April 2016

Oil company to negotiate restructuring with Canadian financier despite Colombian protests

Canadian-Colombian oil company Pacific Exploration has announced plans to negotiate a restructuring deal with a Canadian investment group, despite attempts by shareholders to enlist Colombia’s market regulator to block the deal.

15 April 2016

Australian steelmaker replaces Grant Thornton as administrators after creditors’ coup

Creditors of distressed Australian mining and minerals company Arrium have persuaded a Federal Court to dismiss the company’s administrators Grant Thornton in favour of Australian advisory firm KordaMentha.

14 April 2016

Akin Gump wins restructuring firm of the year award

Akin Gump Strauss Hauer & Feld has been named Restructuring Firm of the Year at the third annual awards ceremony held by GRR’s sister publication Who’s Who Legal.

13 April 2016

Lessons learned from judging Lehman

One week in September 2008 changed the life of Judge James Peck. He talks to GRR about the proposed changes for the restructuring of systemically important financial institutions since Lehman, and suggests ways to enhance international cooperation between bankruptcy courts and regulators in the event of another crisis of that scale.

11 April 2016

Mining company wins US$1.4 billion award in arbitration financed by debtor-in-possession lender

A Canadian mining company has won a US$1.4 billion arbitral award against Venezuela in a claim funded by its debtor-in-possession lender, the private equity fund Tenor Capital.

08 April 2016

Metals miner fights to keep Jamaican subsidiary's bankruptcy in the US

US mining and metallurgy company Noranda Aluminium is denying suggestions by one of its creditors that the bankruptcy proceedings of its Jamaican subsidiary do not belong in a Missouri court.

04 April 2016

UK court gives Hellas liquidators go-ahead for Guernsey serve-out

The liquidators of Luxembourg company Hellas II will be able to pursue fraud claims against its former owners in Guernsey, after the English High Court upheld a previous ruling permitting service outside of the jurisdiction.

31 March 2016

Abengoa reaches “standstill” deal with creditors

Renewable energy multinational Abengoa has reached an eleventh hour deal with creditors, avoiding becoming Spain’s largest-ever bankruptcy for the time being.

29 March 2016

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