Regional news: North America

Deloitte appointed liquidators of Wirecard’s Irish arm, US business sold

Joint provisional liquidators have been appointed over the Irish arm of scandal-hit German payments processor Wirecard, while a US holding company backed by Centerbridge and Bain Capital has bought its North American business.

29 October 2020

Saul Ewing hires new partner in Chicago

Saul Ewing Arnstein & Lehr has hired a partner who worked on the Tribune media company restructuring from Chicago litigation boutique Carpenter Lipps & Leland.

28 October 2020

Selecta scheme sanctioned in England

Swiss vending machine operator Selecta’s English scheme has been sanctioned, but a US committee has found that its Chapter 15 filing constituted a bankruptcy credit event.

27 October 2020

New York court applies Marblegate principles to noteholder’s right to sue

A minority noteholder forced into a strict foreclosure that cancelled its notes retains a legal right to sue for payment under the Trust Indenture Act, a New York court has found – but dissenting judges have warned that “confusion will surely follow”.

26 October 2020

Greenberg Traurig hires in Boston

Greenberg Traurig has hired a new shareholder in Boston from Mintz Levin.

26 October 2020

Ashurst and White & Case advise as African diamond miner cuts creditor deal

A Jersey-incorporated group that operates African diamond mines has agreed a debt-for-equity restructuring with creditors, which it plans to carry out through a scheme of arrangement in England.

22 October 2020

Universality and comity: the Royal Court of Jersey and Lydian International

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

Settlement clears way for oil major Noble's Chapter 11 plan

London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.

19 October 2020

White & Case hires from Sidley again

Two weeks after hiring the co-chairs of Sidley Austin’s global restructuring practice, White & Case has picked up another partner from the firm in Chicago.

16 October 2020

New Look blocked from “premature” Irish examinership

UK retailer New Look has been prevented from entering examinership in Ireland, after a court found it had wrongly claimed to be facing imminent insolvency and ordered it to negotiate with disgruntled landlords.

15 October 2020

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