Regional news: North America
McDermott International to file parallel UK-Dutch restructurings with Ch15 in US
Three years since Houston-headquartered oil and gas engineering group McDermott International exited a pre-packaged Chapter 11, it has entered an agreement with creditors and bank lenders that will see its UK subsidiary launch an English restructuring plan and two Netherlands entities pursue WHOA proceedings.
11 September 2023
Failed SPAC seeks Cayman liquidation as New York litigation looms
The voluntary liquidators of a failed SPAC that is facing a class action in New York have asked a Cayman Islands court to appoint them as official liquidators and supervise the company’s winding up.
08 September 2023
Kirkland & Ellis partner departs for Katten in Chicago
After an eight-year stint at Kirkland & Ellis, partner Joshua Altman has joined Katten Muchin Rosenman’s office in the Windy City.
08 September 2023
Judge Carey to mediate in TV Azteca forum dispute
Former Delaware bankruptcy judge Kevin Carey has been appointed to act as mediator in a forum dispute between Mexican broadcaster TV Azteca and a group of its international creditors that are trying to place it into a Chapter 11 process.
07 September 2023
Gibson Dunn restructuring co-chair joins DLA Piper
DLA Piper has hired a new global co-chair for its restructuring group in Los Angeles as it ramps up plans to grow its cross-border offering worldwide.
07 September 2023
Second Circuit upholds contempt sanction for US attorney in Vneshprombank-linked Chapter 15
The US attorney for Larisa Markus, the bankrupt co-founder of Russia’s Vneshprombank, has failed in his appeal against a US$55,000 contempt order that followed his attempt to “stonewall” the foreign representative of Markus’ bankruptcy estate.
05 September 2023
Mainstream and Ares settle Ch11 dispute in Texas
The Irish founder of a Chilean renewable energy group and its US lenders have tentatively settled a dispute over a Chapter 11 filing in Texas as part of an ownership battle that has led to litigation worldwide.
05 September 2023
Singapore court recognises Genesis subsidiary as foreign rep; creditors mount objections in the US
A wholly-owned subsidiary of cryptocurrency lender Genesis has obtained recognition as the lender’s foreign representative in Singapore under the UNCITRAL Model Law, as creditors mount objections to a recently-published restructuring agreement-in-principle in the US.
04 September 2023
New York judge to seek aid from China in Schahin unjust enrichment suit
A US judge has agreed to issue a letter of request to a Chinese court to help the Brazilian administrators of oil and gas group Schahin secure documents to support their unjust enrichment claims against a host of international banks.
01 September 2023
Latham and Baker McKenzie advise as Babylon sells UK arm
Digital health group Babylon has entered administration in England and sold its UK operations to a Miami-headquartered at-home medical testing company, with Latham & Watkins and Baker McKenzie both taking roles.
31 August 2023