Regional news: United States of America

Ashurst and White & Case advise as African diamond miner cuts creditor deal

A Jersey-incorporated group that operates African diamond mines has agreed a debt-for-equity restructuring with creditors, which it plans to carry out through a scheme of arrangement in England.

22 October 2020

Settlement clears way for oil major Noble's Chapter 11 plan

London-headquartered offshore drilling contractor Noble Corporation has settled a US$2.7 billion lawsuit with its former subsidiary, Paragon Offshore, clearing the way for its Chapter 11 restructuring.

19 October 2020

White & Case hires from Sidley again

Two weeks after hiring the co-chairs of Sidley Austin’s global restructuring practice, White & Case has picked up another partner from the firm in Chicago.

16 October 2020

New Look blocked from “premature” Irish examinership

UK retailer New Look has been prevented from entering examinership in Ireland, after a court found it had wrongly claimed to be facing imminent insolvency and ordered it to negotiate with disgruntled landlords.

15 October 2020

Alvarez & Marsal appointed monitor to struggling cannabis company

Alvarez & Marsal has been appointed to act as monitor of California-based cannabis company Sunniva Group, which obtained an initial order from a Canadian court under the Companies' Creditors Arrangement Act last week.

14 October 2020

Avianca, LATAM secure court approval for DIP financings

Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.

14 October 2020

Indonesian textile group wins US recognition

A New York court has recognised the reorganisation of a Java-based textile group, as part of a multinational restructuring that has seen proceedings play out in the US, Indonesia and Singapore.

13 October 2020

US courts grant emergency recognition of Canadian and English proceedings

A global group of satellite technology companies has secured preliminary US recognition of its Canadian restructuring in Minnesota despite creditor objections – while Swiss vending machine company Selecta has secured the same relief for its English scheme of arrangement in Texas.

12 October 2020

White & Case announces new partner promotions

Five lawyers with restructuring experience have been promoted to partners in White & Case's London, New York, Frankfurt and Paris offices, effective from January 2021.

12 October 2020

Canadian court approves cannabis company’s plan with narrowed releases

A British Columbia court has approved a revised restructuring plan for New York-based marijuana company iAnthus, telling opposing shareholders that not doing so would reward parties bringing “tactical” litigations at the expense of those with less “aggressive” lawyers.

08 October 2020

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