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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 Arnstein & Lehr has hired a partner who worked on the Tribune media company restructuring from Chicago litigation boutique Carpenter Lipps & Leland.
28 October 2020
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
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 has hired a new shareholder in Boston from Mintz Levin.
26 October 2020
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
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
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
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
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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