Regional news: United States of America

III, New York: thought leadership project assesses restructuring responses to covid-19

An International Insolvency Institute panel has presented the results of a thought leadership project it set up in 2020 to assess public and private restructuring responses to the covid-19 pandemic and discuss new ways of dealing with the economic fallout - from government-run emergency restructuring entities, to distressed asset funds underwritten by the public purse.

20 October 2021

SEC harmed public investors, says Hertz counsel

Counsel to car rental company Hertz, which emerged from bankruptcy in June, says the US Securities and Exchange Commission harmed the interests of public investors when it intervened in the company’s share sale last summer.

15 October 2021

Kirkland advising as international tech provider enters restructuring agreement

International network solutions provider Riverbed Technology has brought in Kirkland & Ellis, Alix Partners and GLC Advisors to advise on a restructuring that is set to see investors led by private equity fund Apollo Global Management take ownership of the company.

14 October 2021

Kirkland adds special situations talent in New York

A week after losing partners in Hong Kong and the US, Kirkland & Ellis has bolstered its New York special situations group with the hire of a long-time in-house lawyer from investment firm King Street Capital Management.

13 October 2021

Cayman liquidators of Kuwaiti family group turn to New York for answers

A pair of Cayman liquidators overseeing the winding up of a Kuwaiti family’s investment vehicle are seeking recognition in the US to take discovery from multiple parties including US law firms and international banks, who they believe might shed light on tens of millions of dollars transferred out of the group several years ago.

13 October 2021

China Fishery secures recognition of Ch11 plan in Singaporean first

In a first-of-its-kind ruling, a Singapore court has departed from the UK’s Rubin decision and recognised a Chapter 11 restructuring plan launched by industrial fishing conglomerate China Fishery’s Singaporean holding company.

11 October 2021

Lehman Brothers’ sub-debt appeal continues with guarantor question

UPDATED: Lehman Brothers’ US parent has given evidence on the fourth day of an ongoing appeal against a landmark British court decision made last year, with arguments challenging the effect that a guarantor’s payment has on a creditor's ability to claim against a debtor.

07 October 2021

Bermudian reinsurer’s JPLs move to stop potential US claims

The provisional liquidators of a US-owned Bermudian reinsurance group are seeking Chapter 15 recognition in New York, hoping to prevent potential investor litigation over historically large losses.

07 October 2021

Sidley hires Kirkland partner on the East Coast

Preparing for creditor patience to run out and a spike in demand for restructuring lawyers next year, Sidley Austin has recruited a Kirkland & Ellis partner to its New York and Washington, DC offices.

05 October 2021

Landmark Lehman sub-debt ruling appeal begins

A Scottish Lehman Brothers entity has given evidence on the first day of a multi-way appeal against a landmark decision that a British court made last year on the distribution of subordinated liabilities between two other UK Lehman companies.

04 October 2021

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