Regional news: United States of America

Steel trader enters UK administration following contract claims in US

Katten Muchin Rosenman’s new London office is advising administrators appointed by Wells Fargo over the UK arm of an international steel trader, after a receiver took control of the company in the US last year.

12 March 2021

Mayer Brown adds partner from Proskauer in New York

Mayer Brown has continued its transatlantic hiring spree with the addition of partner Lucy Kweskin from Proskauer in New York.

11 March 2021

Canadian energy provider enters CCAA, files for US recognition

Months after completing a balance sheet restructuring, Canadian retail energy provider Just Energy Group has entered CCAA protection in Toronto and sought Chapter 15 recognition, blaming an “unforeseeable liquidity trap” caused by Texas’ unprecedented winter storm.

10 March 2021

Transatlantic private equity company seeks protection in Canada

A private equity company with investments across North America and the UK has filed CCAA proceedings in British Columbia, with DLA Piper acting for KSV Advisory as its monitor.

09 March 2021

BVI court issues “groundbreaking” committal order against extraterritorial debtor

Earlier this year, the BVI Commercial Court delivered its first ever written judgment on whether jurisdiction exists to make a committal order against a personal judgment debtor who is not domiciled or resident in the BVI. Kobre & Kim's John Han, Merrick Watson and Timothy de Swardt explain how the ruling came about and how significant it is for the territory.

09 March 2021

McDermott strengthens practice in Atlanta

McDermott Will & Emery has hired former DLA Piper partner Daniel Simon for its restructuring and insolvency practice in Atlanta.

08 March 2021

Court strikes down final challenge to COFINA restructuring

A US appeals court has struck down as equitably moot the last outstanding legal challenge to the Puerto Rico Sales Tax Financing Corporation’s specialist Title III restructuring, two years after its plan was approved.

08 March 2021

California court reverses recognition of Australian judgment

An Australian woman’s US$1.2 million claim in a skin care manufacturer’s US bankruptcy has been thrown out after a California district court reversed the recognition of an Australian judgment.

05 March 2021

Regis CVA trial continues as fairness amendment rejected

Landlords challenging the defunct Regis CVA will not get a chance to argue that it’s unfair for uncompromised creditors to bind compromised creditors, after the High Court in London found a late request to amend their particulars of claim was an attempt at a second bite of the cherry.

05 March 2021

Valaris rescue plan confirmed

UK-incorporated offshore drilling contractor Valaris has had its Chapter 11 restructuring plan confirmed, after a Texas court overruled a shareholder’s objection and the company resolved other challenges.

04 March 2021

Get unlimited access to all Global Restructuring Review content