Regional news: North America

French tech plant sold to “insolvent” entity appeals forum non conveniens ruling in US

A French manufacturing plant that claims its US former owner sold it off to an insolvent entity to avoid restructuring costs, has asked a US appeals court to reopen its case previously dismissed from New York on grounds of forum non conveniens, in light of new evidence arising in French courts.

23 March 2016

GRR collects reactions to the Sabine oil and gas decision in New York

A New York Bankruptcy Court last week potentially allowed a US oil and gas company to reject certain midstream contracts as part of its Chapter 11 restructuring – but lawyers have warned against over-estimating the impact of the ruling and said that, at most, it creates uncertainty in the energy sector.

15 March 2016

German insolvency proceedings spark Canadian bank winding-up action

Insolvency proceedings brought against a German subsidiary of Canada’s Maple Bank have prompted an “urgent” winding-up order against a branch of the bank in its native country.

01 March 2016

Canadian oil trust files Chapter 15 case in Texas

Calgary-based oil well operator Argent Energy Trust has filed for bankruptcy protection in Canada and the US, the latest victim of the collapsed price of fossil fuels.

25 February 2016

Stikeman Elliott appoints two in Montreal and Toronto

Canadian firm Stikeman Elliott has appointed two new partners with a focus on restructuring and insolvency.

04 February 2016

Litigator joins Quinn Emanuel from Kirkland & Ellis

Quinn Emanuel Urquhart & Sullivan has hired a litigator with experience in supporting insolvency-related proceedings from Kirkland & Ellis in New York.

27 January 2016

Canadian steelmaker crumples under global supply pressure

Canada’s Essar Steel Algoma has filed for bankruptcy protection in US and Canadian courts, just eight months after exiting a restructuring process filed last year and in the midst of a civil action by a raw material supplier.

16 December 2015

One in, one out at Morgan Lewis

Morgan Lewis & Bockius has hired Renée Dailey as a partner in its Hartford, Connecticut office, and said goodbye to Allan Reiss in New York.

16 December 2015

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

Insolvent Canadian payday loans company Cash Store has filed for chapter 15 protection in New York, winning a stay against a host of court proceedings on both sides of the border, including a federal securities lawsuit launched by a Japanese shareholder.

16 December 2015

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