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Agrokor trustee resigns amid conflict questions

Agrokor trustee resigns amid conflict questions

22 February 2018

The restructuring manager of Agrokor, Croatia’s biggest company, has stepped down from his role after media reports of a possible conflict of interest.

Dana Gas told to pay BlackRock costs for English trial

Dana Gas told to pay BlackRock costs for English trial

22 February 2018

The UAE’s Dana Gas must pay nearly US$600,000 towards BlackRock’s costs for an English trial over Dana’s unpaid US$700 million Islamic bond – but the ruling is only a portion of what BlackRock initially claimed.

CGG restructuring ends

CGG restructuring ends

22 February 2018

French geoscience firm CGG has announced a successful end to its cross-border restructuring, after cutting its debt by almost US$2 billion in Paris-based safeguard proceedings and a Chapter 15 case.

FTI recruits from EY in New York

FTI recruits from EY in New York

21 February 2018

Keith McGregor has joined FTI Consulting as a senior managing director in the firm’s New York corporate finance and restructuring segment.

Saudi Arabia to get its first bankruptcy law

Saudi Arabia to get its first bankruptcy law

21 February 2018

Saudi Arabia's Council of Ministers has reportedly approved the kingdom's first bankruptcy law in a bid to draw business investment, according to Saudi counsel.

Singapore court divides Berau noteholders ahead of creditors’ meeting

Singapore court divides Berau noteholders ahead of creditors’ meeting

21 February 2018

A Singaporean court has allowed a guarantor of notes issued by two distressed Indonesian companies in the Berau Group to convene a creditors’ scheme meeting, but insisted the noteholders should be split into separate classes of voters.

FTI adds Iain Graham from PwC

FTI adds Iain Graham from PwC

20 February 2018

FTI Consulting has appointed financial adviser Iain Graham as a managing director of its London corporate finance and restructuring practice.

Second Circuit throws out Madoff feeder complaint

Second Circuit throws out Madoff feeder complaint

20 February 2018

A US appeal court has found that claims against Swiss and Luxembourgish banks accused of supporting two feeder funds into Bernard Madoff’s Ponzi scheme belong in US federal rather than state courts, but ultimately rejected jurisdiction of the claims on the merits.

Sea Trucks' liquidators sell ships to raise cash for cross-border recoveries

Sea Trucks' liquidators sell ships to raise cash for cross-border recoveries

19 February 2018

The British Virgin Islands liquidators of ship operator Sea Trucks have nearly halved its debt by selling four vessels to a new UAE-headquartered company, allowing them to pursue the recovery of assets in Nigeria.

Guernsey scheme of arrangement gets court greenlight

Guernsey scheme of arrangement gets court greenlight

19 February 2018

A court in Guernsey has approved a US-owned slot machine manufacturer’s purchase of a recently-refinanced sports wagering company via a scheme of arrangement, saying it fulfilled the sanction criteria set out last year in the Puma Brandenburg case.

Delaware court approves Takata Chapter 11 plan after deal with injured drivers

Delaware court approves Takata Chapter 11 plan after deal with injured drivers

19 February 2018

Japanese car parts manufacturer Takata has received court approval for its Chapter 11 exit plan, after reaching a settlement with creditor groups and drivers injured by faulty airbags.

Stroock adds New York restructuring partner from Kasowitz

Stroock adds New York restructuring partner from Kasowitz

16 February 2018

New York restructuring partner Daniel Fliman has left Kasowitz Benson Torres to join Stroock & Stroock & Lavan.