Topic: Liens
Health sensor SPAC files dual US-Cayman restructuring
A company that develops sensors used in smart watches has filed the second known application for restructuring officers in the Cayman Islands and entered a pre-packaged Chapter 11 in New York to equitise two sets of notes.
27 January 2023
Irish lessors lose latest round in fight to overturn Garuda’s restructuring plan
Two Irish lessors fighting the US$9.5 billion restructuring of Indonesia’s national airline have failed to wind up the company in Australia after a judge in Sydney found it is "immune" from the jurisdiction of the Australian courts.
28 November 2022
Skadden advising as Endo agrees Ch11 pre-pack sale amid opioid suits
Ireland-registered pharmaceutical group Endo has sought bankruptcy protection in New York after agreeing a US$6 billion sale with noteholders – with plans to seek recognition in Canada, the UK and Australia.
17 August 2022
INSOL International, London: Developing a rescue finance market
Lower costs of enforcement in the US, speedier, specialised courts in Europe with a “proper” cross-border recognition regime, and Asian regulators that understand distress: a panel of investors from around the world shared their wish lists for an ideal environment to encourage the development of a global rescue financing market fit for the future.
10 August 2022
Joint administrators can sell George Best hotel free of security
The joint administrators of a property developer behind an incomplete Northern Ireland hotel named after the late footballer George Best have won court approval to sell the property as if it were not subject to security.
17 June 2022
Secured creditors can enforce against companies in insolvency, Ugandan court rules
Uganda’s tax authority has been ordered to reimburse Bank of India as a secured creditor of an insolvent bottled water supplier, after it seized and disposed of some of the company’s assets to recover unpaid taxes.
01 June 2022
Alto Maipo receives court approval of Chapter 11 plan
Chilean hydroelectric project operator Alto Maipo has had its Chapter 11 plan approved by a Delaware court, after the company modified language related to third party releases in response to an objection by the US trustee.
20 May 2022
Canadian receiver obtains emergency relief from creditors in North Dakota
An oilfield services company’s Canadian receiver has obtained temporary emergency relief from a court in North Dakota to stall a wave of creditor enforcement actions against the debtor in a local district court.
20 April 2022
Morrison & Foerster recruits Arnold & Porter partner
Morrison & Foerster has hired a partner in New York and Chicago who was instructed to advised the Kyrgyz Republic in a contentious Chapter 11 last year.
01 April 2022
Singapore appeal court rules on fresh security as a transaction at an undervalue
Granting fresh security for an existing debt does not constitute a transaction at an undervalue in principle – but granting it for a third-party debt may do so, the Singapore Court of Appeal has found, addressing the issues in the jurisdiction for the first time.
29 March 2022