Regional news: United States of America

New York Ch15s for Brazilian cement maker and ex-Aegerion owner

A Brazilian cement maker is seeking US recognition of its restructuring in New York, while the former owner of US pharmaceutical company Aegerion has asked the same court for recognition of its Canadian liquidation.

16 February 2021

EY appointed as Seadrill JPLs in Bermuda after latest Chapter 11 filings

Offshore rig operator Seadrill Limited has appointed EY as its joint provisional liquidators in Bermuda for the second time in four years after a conflict between creditors saw it file for Chapter 11 protection in Texas last week.

15 February 2021

Dentons group leader joins Greenberg Traurig in New York

Greenberg Traurig has hired Dentons partner Oscar Pinkas to chair its New York restructuring and bankruptcy practice.

12 February 2021

Cruise port operator’s scheme convening hearing adjourned again

For the second time in a week, an English court has told the world’s largest cruise port operator to provide more information on advisers’ fees it plans to pay for noteholders under its scheme of arrangement.

11 February 2021

Fourth time lucky: Cleary and Bruchou help YPF secure debt exchange

Argentine oil company YPF has secured approval from noteholders to exchange debt maturing next month, with Cleary Gottlieb and local firm Bruchou advising the company and a quartet of firms including Clifford Chance, Bomchil, Dechert and DLA Piper acting for creditor groups.

11 February 2021

Dormant insurer secures English schemes for decades-old claims

The administrators of a long-inactive UK insurance company have obtained an English court’s approval of two schemes of arrangement, allowing them to deal with historic claims held by creditors around the world.

10 February 2021

New bankruptcy judges in SDNY

An Akin Gump Strauss Hauer & Feld partner and a career prosecutor have been appointed as bankruptcy judges in Manhattan.

08 February 2021

Stay claims in the US so Luckin Coffee can restructure in Cayman, court told

Having already secured Hong Kong recognition, the provisional liquidators of China’s Luckin Coffee have asked a New York court to stave off shareholder actions in the US while they restructure the group’s holding company through a pair of Cayman schemes, to deal with revelations it falsely inflated its accounts last year.

08 February 2021

Seadrill Asia seeks Chapter 11 protection in Texas

Five of offshore rig operator Seadrill’s Asian subsidiaries have entered Chapter 11 proceedings in Texas, listing Dubai’s ZDN Investment and Saudi Arabia-based Algosaibi Services Company as their largest unsecured creditors.

08 February 2021

Pyxus cannabis subsidiaries enter CCAA as iAnthus restructuring upheld

Global tobacco company Pyxus has secured CCAA protection for its cannabis subsidiaries after exiting Chapter 11, while New York-based cannabis company iAnthus has seen off an appeal against its Canadian restructuring.

05 February 2021

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