Regional news: North America

Property developer files case in US to seal Hong Kong restructuring

International real estate developer Kaisa Group Holdings has filed for protection under Chapter 15 of the US Bankruptcy Code in a bid to convince a Hong Kong court to approve its restructuring scheme.

06 May 2016

Community round-up: movements in Europe and the US

Recent weeks saw high-profile hires in London and Texas and partner promotions across Europe. Debt financing specialist Mark Fine has joined Willkie Farr & Gallagher as partner in the firm’s London office.

05 May 2016

Canadian Court throws out Nortel “lockbox” appeal

A Canadian court has dismissed an appeal against the pro rata distribution of a US$7.3 billion escrow fund accumulated from the sale of collapsed Canadian telecoms group Nortel’s assets.

04 May 2016

SunEdison appoints new restructuring officer after creditors pick apart first-day motions

Renewable energy group SunEdison has appointed a restructuring officer to oversee its bankruptcy proceedings in New York, after unsecured creditors successfully fought against some of its first-day motions.

03 May 2016

DLA Piper hires from Skadden Arps in Chicago, promotes three in the UK

Former Skadden Arps Slate Meagher & Flom restructuring partner John Lyons has joined DLA Piper in its Chicago office, as the firm promoted three new partners in the UK.

29 April 2016

Pacific Exploration secures protection in Canada, looks to other jurisdictions

Distressed Canadian-Colombian oil company Pacific Exploration has been granted protection from creditors in Canada and will look to acquire further protection in the US and Colombia.

28 April 2016

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

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