Regional news: United States of America

Another Brown Rudnick partner joins Squire Patton Boggs

Squire Patton Boggs has recruited another partner from Brown Rudnick in Paris, weeks after it added a five-strong team from the firm in London.

26 September 2022

Two fora not appropriate: hair product dispute must be adjudicated in Canadian bankruptcy

A Canadian proposal trustee will have to adjudicate long-standing claims between a hair salon chain and product manufacturer Moroccanoil, and not the New Jersey court that has already been hearing the dispute for seven years, after an Ontario court refused to grant the trustee leave to appeal a decision stopping the parties from proceeding in two fora.

26 September 2022

Crypto winter brings down US Bitcoin data centre in Texas

Crypto mining data centre Compute North has filed Chapter 11 proceedings in Texas, blaming the cryptocurrency crash and a strain in its working relationship with one of its primary lenders.

23 September 2022

Fifth Circuit upholds Highland Capital Ch11 plan, but limits exculpations

The US’s Fifth Circuit appeals court has limited the use of exculpation provisions in the Chapter 11 plan of fund manager Highland Capital Management – but at least one US lawyer says there’s nothing to worry about if the right provisions are used to exculpate the right parties.

23 September 2022

GRR Live returns to New York on 6 October

With a packed schedule covering clashes between national insolvency regimes, important developments across Latin America, sovereign debt restructurings and the meltdown in crypto markets, GRR Live is returning to New York.

22 September 2022

US resident fails to enforce bankruptcy stay against Irish creditors

Preventing a potential stand-off with the Irish courts, a US appeals court has denied a request by an Irish citizen resident in Illinois to enforce a Chapter 11 stay against his Irish creditors.

22 September 2022

III NextGen, Toronto: DIP roll-ups across jurisdictions

“You can’t put the toothpaste back in the tube.” Comparing the evolution of rescue financing in the US with Singapore, Spain and Italy, speakers at the International Insolvency Institute’s NextGen conference in Toronto discussed the controversial rise of roll-ups and noted lenders will not stop asking for them now they are used so frequently.

21 September 2022

Raines Feldman continues New York expansion

Los Angeles-headquartered law firm Raines Feldman has bolstered its New York office with the addition of two restructuring partners from boutique firm Callari Partners.

21 September 2022

New York court blocks PJT restructuring fee in LATAM Ch11

Despite claiming the duration and complexities of its Chapter 11 case were unforeseen, South American airline LATAM has failed to convince a New York court to let it pay its investment banker PJT Partners an additional US$12 million restructuring fee if its plan becomes effective.

20 September 2022

Celsius seeks permission to sell stablecoin holdings

Bankrupt crypto lender Celsius Network is seeking authority to sell all its current and any future stablecoins it receives to fund its operations – one day after a New York court appointed an examiner to investigate the company’s pre-petition conduct.

16 September 2022

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