Regional news: United States of America

IWG’s Canadian arms win creditor protection

The Canadian arms of Swiss-headquartered office space provider International Workplace Group (IWG) have won interim CCAA protection, after concerns that Chapter 11 proceedings filed by the group last month may have led to a technical default on several of its Canadian leases.

08 September 2020

Cozen hires eight from Fox Rothschild in Chicago and Delaware

Cozen O’Connor has hired eight Fox Rothschild partners in Chicago and Delaware, including its restructuring co-chairs Brian Shaw and Robert Fishman.

08 September 2020

Can legal liberalisation rescue businesses from covid-19 catastrophe?

Mayer Brown partners Trevor Borthwick and Devi Shah in London, Tom Pugh in Hong Kong and counsel Monique Mulcare in New York ask: is further legal liberalisation needed to stimulate the rescue of viable companies affected by the covid-19 pandemic?

07 September 2020

Transocean clears noteholder injunction challenge to debt exchange

Rejecting protests from noteholders, a New York court has given the Switzerland-incorporated offshore drilling contractor Transocean approval to continue with a disputed exchange offer to restructure US$2 billion of its US$9 billion debt pile.

07 September 2020

Pillsbury hires another from Troutman Pepper in New York

US firm Pillsbury Winthrop Shaw Pittman has hired Troutman Pepper Hamilton Sanders partner Hugh McDonald in New York, a month after hiring another partner from the firm.

07 September 2020

First times for Virgin in courts

In Virgin Australia's insolvency, a federal court has issued the first ruling on an administrator’s obligation to “give possession” under the Cape Town Convention, as creditors approved its sale to Bain Capital; meanwhile, Virgin Atlantic received the first Chapter 15 recognition of a new English restructuring plan.

04 September 2020

Retired judge to mediate Thai bankruptcy dispute in grocer’s Chapter 11

Retired Delaware judge Kevin Carey has been appointed to mediate in Thai-owned gourmet retailer Dean & DeLuca’s Chapter 11 proceedings, following creditor allegations the US bankruptcy was only filed to benefit its parent’s reorganisation in Thailand.

04 September 2020

Spanish gamer’s UK scheme faces class composition questions over fees

After completing a successful COMI-shift and English scheme in 2015, Spanish gaming company Codere is pursuing another English restructuring – but a disgruntled noteholder is opposing its plans to place creditors in a single class.

03 September 2020

Katten bolsters practice in Chicago and Dallas

Katten Muchin Rosenman has expanded in Chicago and Dallas, hiring the co-chair of Fox Rothschild’s bankruptcy litigation practice, and a partner from Akerman.

03 September 2020

Arnold & Porter hires from Proskauer Rose in New York

Arnold & Porter has added a new partner in New York with credits on the Puerto Rico restructuring and MF Global bankruptcy.

03 September 2020

Get unlimited access to all Global Restructuring Review content