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Skadden Arps Slate Meagher & Flom has hired two partners from Jones Day, including a new global co-head for its restructuring practice.
27 July 2016
US, Bermudian and Canadian affiliates of the oil drilling group C&J Energy have filed for Chapter 11 protection in Texas, with securities filings revealing ancillary proceedings outside the US.
27 July 2016
Saudi Arabian family-run conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB), has signed a deal with several of its lenders to implement a US$6 billion restructuring plan, bringing the Arab region’s largest debt default a step closer to resolution.
26 July 2016
A Brazilian court has chosen PricewaterhouseCoopers as judicial administrator, along with Brazilian firm Wald e Associados Advogados as its counsel, to carry out the country’s largest ever court-administered bankruptcy for telecoms company Oi.
25 July 2016
A group of hedge funds whose New York suit was stayed by the passage of the Puerto Rico Oversight Management and Stability Act (PROMESA) have initiated further litigation, alleging the island territory breached the act just hours after it was passed.
22 July 2016
A Canadian court recently recognised Israeli bankruptcy proceedings relating to Canadian property developer Urbancorp as foreign main proceedings, in what it described as “a very unusual situation” since the property developer’s centre of main interests (COMI) is not in Israel.
22 July 2016
Renco Group, the US parent of the bankrupt operator of a smelting and refinery complex in Peru, has been prevented from bringing an arbitration claim against the Peruvian government, which it holds responsible for the bankruptcy.
19 July 2016
A group of creditors have accused affiliates of multinational industrial fishing consortium China Fishery Group (CFG) of exploiting US bankruptcy protections to abuse creditors’ rights and derail an asset sale process.
14 July 2016
Affiliates of the Cayman-registered industrial fishing company China Fishery Group have filed a cluster of Chapter 11 and Chapter 15 applications in the US, seeking to delay a fire sale of the group’s Peruvian assets.
04 July 2016
The US Senate passed a controversial restructuring bill to address Puerto Rico’s ongoing debt crisis, a day before its potential default on more than US$1 billion in bond payments.
30 June 2016
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