Super-priority financing

Bedding group fends off US district court challenge

A group of Cayman-incorporated first-lien debt holders who tried to challenge a mattress manufacturer’s novel new money restructuring before a US district court have failed at the jurisdictional stage after the court found their collective principal place of business was in New York.

19 March 2021

The Brazilian Bankruptcy Law’s 2020 reform

More than 15 years after its enactment, the Brazilian Bankruptcy Law has finally gone through its first major reform and gained cross-border insolvency provisions. Felsberg Advogados partner Thomas Benes Felsberg and senior associate Thiago Dias Costa discuss the critical provisions that were altered on 24 December when the new law was enacted.

18 February 2021

Singapore schemes sanctioned in new firsts for Asiatravel.com and MNC

Online travel agency Asiatravel.com has secured a Singapore scheme alongside an unprecedented second round of rescue financing, while Trump partner MNC Investema has become the first Indonesian company to implement a pre-packaged scheme in the city-state.

01 February 2021

ADGM: A commercially fair and efficient Middle Eastern regime

Alexander Wood, a partner at Shearman & Sterling in London whose firm advised on the establishment of the Abu Dhabi Global Market’s legal and regulatory framework, discusses why parties to regional restructurings and insolvencies should now consider the ADGM regime.

23 October 2020

A balancing Act: the UK’s new corporate insolvency and governance law

When the clock struck midnight on 25 June, the UK’s restructuring and insolvency regime suddenly looked a lot friendlier for debtors, both temporarily pending the coronavirus’ havoc on the UK economy, and permanently. But does the new legislation rushed through parliament in under a month provide a serious contender to Chapter 11’s crown, or does it merely bring the UK up-to-date with the 1970s as one practitioner suggested?

11 September 2020

Interior design company obtains roll-up super-priority financing in Singapore

Struggling interior design company Design Studio Group has been granted super-priority rescue financing in Singapore, including over pre-petition debts that were incurred before the group filed for insolvency.

24 July 2020

Singapore omnibus legislation set to come into force

Local practitioners have welcomed Singapore’s “elegant and comprehensive” new Insolvency, Restructuring and Dissolution Act and its 48 pieces of subsidiary legislation, which are set to come into force on 30 July.

24 July 2020

ADGM enhances insolvency law with priority financing for administrators

Officials in Abu Dhabi’s financial free zone have enacted amendments to the insolvency framework for its English-language courts, including the addition of new priority financing measures.

16 July 2020

Swissport scheme becomes effective with US recognition

Chinese-owned aviation services company Swissport has won Chapter 15 recognition of its English scheme in Delaware, which has now become effective.

07 July 2020

Oon & Bazul hires from Clifford Chance in Singapore

Oon & Bazul has hired Clifford Chance’s Keith Han as a partner in Singapore, describing him as a “clear leader in his generation”.

30 June 2020

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