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The receivers of Belgium’s former national airline, who spent years trying to unlock funds in a New York bank account frozen by US sanctions against the government of Sudan, have had their case dismissed by A New York appeals court.
29 July 2016
A Toshiba Samsung joint venture has obtained full recognition of its Korean corporate rehabilitation proceedings from a Delaware court, despite a challenge from US computer company Dell and other plaintiffs in a parallel antitrust litigation.
29 July 2016
A US bankruptcy court has dismissed Delaware-incorporated Legend International’s Chapter 11 case, after a Melbourne court ruled that the phosphate miner’s centre of main interests (COMI) was in Australia.
28 July 2016
Skadden Arps Slate Meagher & Flom has hired two partners from Jones Day, including a new global co-head for its restructuring practice.
27 July 2016
US, Bermudian and Canadian affiliates of the oil drilling group C&J Energy have filed for Chapter 11 protection in Texas, with securities filings revealing ancillary proceedings outside the US.
27 July 2016
Saudi Arabian family-run conglomerate Ahmad Hamad Algosaibi & Brothers (AHAB), has signed a deal with several of its lenders to implement a US$6 billion restructuring plan, bringing the Arab region’s largest debt default a step closer to resolution.
26 July 2016
A Brazilian court has chosen PricewaterhouseCoopers as judicial administrator, along with Brazilian firm Wald e Associados Advogados as its counsel, to carry out the country’s largest ever court-administered bankruptcy for telecoms company Oi.
25 July 2016
A group of hedge funds whose New York suit was stayed by the passage of the Puerto Rico Oversight Management and Stability Act (PROMESA) have initiated further litigation, alleging the island territory breached the act just hours after it was passed.
22 July 2016
Renco Group, the US parent of the bankrupt operator of a smelting and refinery complex in Peru, has been prevented from bringing an arbitration claim against the Peruvian government, which it holds responsible for the bankruptcy.
19 July 2016
A group of creditors have accused affiliates of multinational industrial fishing consortium China Fishery Group (CFG) of exploiting US bankruptcy protections to abuse creditors’ rights and derail an asset sale process.
14 July 2016
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