Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

All Articles

Skadden helps container company complete debt refinancing

Skadden helps container company complete debt refinancing

17 August 2018

Skadden Arps Slate Meagher & Flom, Morgan Lewis & Bockius and Watson Farley & Williams have guided container company Danaos through an out-of-court refinancing of its US$2.2 billion debt.

Evidence seized in Canada may go to Belgian prosecutors

Evidence seized in Canada may go to Belgian prosecutors

17 August 2018

Evidence discovered on the back of a search warrant in Canada will be sent to Belgium to assist prosecutors in a criminal investigation surrounding the insolvency of a medical equipment supplier, after an Ontario court rejected appeals from the accused.

Steinhoff adds Lehman administrator as €12bn class action looms

Steinhoff adds Lehman administrator as €12bn class action looms

17 August 2018

Struggling South African conglomerate Steinhoff has nominated former PwC partner Paul Copley to its supervisory board, a week after it emerged that a Johannesburg-based corporate boutique had launched a class action against the company and linked parties.

Cayman and Seoul courts adopt JIN guidelines

Cayman and Seoul courts adopt JIN guidelines

16 August 2018

The Grand Court of the Cayman Islands and the Seoul Bankruptcy Court have become the latest courts to adopt the Judicial Insolvency Network (JIN) guidelines on co-operation in cross-border insolvencies and restructurings.

Deloitte partners appointed as Abraaj Capital enters provisional liquidation in Dubai

Deloitte partners appointed as Abraaj Capital enters provisional liquidation in Dubai

16 August 2018

A court in the Dubai International Financial Centre has appointed Deloitte partners David Soden and Phil Bowers as joint provisional liquidators of Abraaj Capital – an arm of the beleaguered UAE private equity group that entered provisional liquidation in the Cayman Islands in June.

Madoff recovery lawyer joins Quarles & Brady in Tampa

Madoff recovery lawyer joins Quarles & Brady in Tampa

16 August 2018

US firm Quarles & Brady has hired Baker Hostetler partner Mark Kornfeld, who helped recover Madoff Ponzi scheme funds and personally interviewed Madoff in prison.

Cayman court appoints “soft-touch” liquidators over CW Group

Cayman court appoints “soft-touch” liquidators over CW Group

16 August 2018

Engineering company CW Group has won an application for the appointment of “soft touch” provisional liquidators in the Cayman Islands, against the objections of banking creditors who alleged mismanagement – a month after a Hong Kong court said it could not recognise the group’s Singaporean restructuring.

Noble plan will go to vote at end of August

Noble plan will go to vote at end of August

15 August 2018

Shareholders of commodities trader Noble Group will vote on its long-debated restructuring plan in two weeks’ time, as it reports restructuring costs of US$94.6 million.

Borrelli Walsh indemnity claim survives appeal in Hong Kong

Borrelli Walsh indemnity claim survives appeal in Hong Kong

15 August 2018

Restructuring boutique Borrelli Walsh can continue to pursue an indemnity claim against the directors of a Chinese country club owner that accuses them of racking up excessive costs, after the claim was preserved on appeal by a Hong Kong court.

Gibraltarian payday loans business files Chapter 15 in Miami

Gibraltarian payday loans business files Chapter 15 in Miami

15 August 2018

Two weeks after its UK sister company filed for Chapter 15 protection in New Jersey, the joint liquidators of a Gibraltar-registered payday loans business embroiled in fraud and mismanagement allegations, have sought recognition of their appointment in Miami.

Kirkland advising UK hardware chain Homebase in CVA

Kirkland advising UK hardware chain Homebase in CVA

14 August 2018

UK hardware franchise Homebase is launching a company voluntary arrangement with Kirkland & Ellis and Alvarez & Marsal advising, after a “disastrous” Australian takeover.

Canadian drugs company enters Chapter 11 and CCAA

Canadian drugs company enters Chapter 11 and CCAA

14 August 2018

Ontario-based pharmaceuticals company Aralez has won debtor-in-possession financing approval as it pursues US and Canadian proceedings ahead of an asset sale.