Regional news: United States of America

Regis CVA challenge kicks off in UK

Lawyers acting for landlords of UK hairdressing chain Regis have told the High Court that the CVA it launched in 2018 was “a million miles away from what was envisaged” when the tool was conceived 40 years ago.

03 March 2021

Bryan Cave restructuring head to join Simmons & Simmons in London

Simmons & Simmons has hired Bryan Cave Leighton Paisner’s EMEA head of restructuring in London, labelling the practice area “an investment priority” for the firm.

01 March 2021

Europcar completes restructuring, receives US recognition

A New York court has recognised car rental firm Europcar’s French restructuring, a day after a Paris court approved its accelerated financial safeguard plan to reduce its debt by €1.1 billion.

01 March 2021

Takata trustee avoids service under the Hague Convention

The trustee of a compensation trust set up as part of Takata’s Chapter 11 plan has been allowed to serve an adversary proceeding on a Japanese insurance company’s US counsel, after a Delaware court found the costs of complying with the Hague Convention for service overseas would reduce funds available to victims of its faulty airbags.

25 February 2021

Sycamore-owned Belk seals record-breaking Ch11 plan

American department store chain Belk has secured the fastest ever confirmation of a pre-packaged Chapter 11 plan, with Kirkland & Ellis, Latham & Watkins, O’Melveny & Myers and Willkie Farr all taking instructions.

24 February 2021

Indian IT company seeks reconsideration of dismissed Chapter 11

An Indian IT company has asked an Alabama court to reconsider the dismissal of its subsidiaries’ voluntary Chapter 11 proceedings, after international creditors argued the bankruptcy was filed in bad faith with no valid reorganisational purpose.

23 February 2021

Faegre Drinker continues rapid growth with US hires

Robins Kaplan’s Los Angeles-based restructuring chair and a Foley & Lardner partner in New York have become the latest additions to Faegre Drinker Biddle & Reath’s fast-expanding restructuring group.

22 February 2021

Baker Botts hires in Houston

Texas-headquartered Baker Botts has strengthened its Houston team with the hire of a partner from Greenberg Traurig.

18 February 2021

Third time lucky for Cruise port operator’s scheme meeting

It’s third time lucky for the world’s largest cruise port operator, which has finally received an English court’s permission to convene a scheme creditors’ meeting, after missing information on its promise to pay certain noteholders’ advisers’ fees scuppered its two previous attempts.

17 February 2021

Deloitte secures sale of UK restructuring arm

New York-headquartered advisory firm Teneo has agreed to acquire Deloitte’s UK restructuring business, while one of its Big Four rivals is progressing with a sales process of its own.

16 February 2021

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