All Articles
Spanish building materials company files for bankruptcy amid asbestos claims
21 February 2020
Spain’s largest cement and asbestos company has filed for voluntary insolvency after litigation by former workers and residents near the company’s factory impeded its ability to secure liquidity.
Former OW Bunker trustee joins Copenhagen boutique
21 February 2020
Plesner partner Pernille Bigaard, the former trustee in bankruptcy of shipping fuel supplier OW Bunker, has left the firm to join restructuring boutique Sundgaard.
Paul Hastings hires Winston & Strawn pair
20 February 2020
The head of Winston & Strawn’s restructuring practice, Justin Rawlins, has joined Paul Hastings in Los Angeles along with fellow Winston partner Phil Ratner in New York.
Singaporean commodity trader placed under interim judicial management
20 February 2020
The Singapore High Court has placed commodity trader Agritrade International under interim judicial management after fraud allegations from a group of banks scuppered its application for a moratorium.
“The epitome of a cross-border restructuring”: Noble Unpacked
20 February 2020
A Bermuda-incorporated company, listed in Singapore, with a centre of main interest (COMI) in Hong Kong and operations across the world, commodities trader Noble Group was always going to be challenging to reorganise. In the latest in GRR’s Unpacked series, the practitioners tasked with solving this US$3.5 billion puzzle discuss how disgruntled shareholders, regulatory interventions and a disgruntled ex-employee’s blog made Noble’s restructuring one for the ages.
Swiss jeweller embroiled in “Luanda Leaks” files for bankruptcy
19 February 2020
A jewellery company linked to Angolan billionaire Isabel dos Santos has begun bankruptcy proceedings in Switzerland and the US.
UK crypto casualty files for California Chapter 15
19 February 2020
A UK-headquartered cryptocurrency exchange has filed a Chapter 15 petition in San Francisco after a cyber-theft plunged the company into administration.
Construction group wound up in Bermuda after Hong Kong delisting
19 February 2020
A Bermuda court has terminated the “light touch” provisional liquidation of construction group Hsin Chong Group Holdings after determining that the key benefit of its restructuring “no longer exists”.
IBC amendments smooth path to Indian steel mill sale
18 February 2020
Indian steel mill Bhushan Power & Steel has had its sale approved, after amendments to the country’s bankruptcy code allowed it to be purchased free of money laundering allegations that halted the sale last year.
Dechert hires second partner from Shearman in London
18 February 2020
Dechert has hired Shearman & Sterling partner Alastair Goldrein in its London office, following its hire of Solomon Noh from the same firm earlier this month.
Heads-Up: Ian Mann and Chai Ridgers at Harneys in Hong Kong
18 February 2020
“If you can use your ingenuity to identify how stakeholders will benefit from the restructuring, you will get past the lack of a legal framework.” Offshore firm Harneys’ Asia managing partner Ian Mann and head of restructuring in Asia Chai Ridgers speak to GRR about China Agrotech, commodities and restructuring without a cross-border framework in Asia.
Brazilian airport’s restructuring plan approved
17 February 2020
Creditors to the operator of a Brazilian airport have approved a debt restructuring plan after a two-day meeting of general creditors.