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US court says NY law bonds count as property in Chapter 15 case

US court says NY law bonds count as property in Chapter 15 case

11 November 2015

Widening the door for more non-US companies to seek recognition of cross-border bankruptcies in New York, a US bankruptcy court has found that New York choice of law and forum selection clauses in a Singaporean company’s indentures satisfied the Second Circuit’s much-criticised US property requirement for a Chapter 15 filing.

Chinese lender appoints receiver in Baha Mar foreclosure

Chinese lender appoints receiver in Baha Mar foreclosure

10 November 2015

Export-Import Bank of China has appointed a receiver in the foreclosure of a US$3.5 billion Bahamian resort, weeks after it was denied bankruptcy protection in the United States.

Linklaters hires new practice head

Linklaters hires new practice head

10 November 2015

Linklaters has hired a new head of restructuring and insolvency in New York from Willkie Farr & Gallagher.

India publishes new restructuring bill to streamline insolvency

India publishes new restructuring bill to streamline insolvency

10 November 2015

An Indian law reform committee has published recommendations and a draft bill to modernise the country’s bankruptcy laws – but the new bill says little about cross-border insolvencies.

UK court examines impact of new EU laws on jurisdiction

UK court examines impact of new EU laws on jurisdiction

06 November 2015

Two decisions over the summer examined the impact of new EU legislation on the jurisdiction of the UK courts over the approval of a Dutch and Belgian group’s English scheme of arrangement, and a claim for the recovery of a debt where there were parallel administrative proceedings in Portugal.

Setbacks in court for secondary investors in Madoff claims

Setbacks in court for secondary investors in Madoff claims

06 November 2015

Secondary market investors who bought claims related to the Madoff fraud suffered two setbacks last month, as a court in New York reversed the sale of one claim, and a court in Dublin dismissed attempts to enforce another against a third party on grounds that it violated Irish champerty rules.

Ontario court rejects Nortel bondholder’s “interest stops” claim

06 November 2015

In a precedent-setting decision, a Canadian appeals court has ruled that unsecured bondholders in the defunct multinational telecoms operator Nortel will...

Kirkland & Ellis adds new partner in Hong Kong

Kirkland & Ellis adds new partner in Hong Kong

29 October 2015

Kelly Naphtali has left Lipman Karas to join Kirkland & Ellis as a partner in Hong Kong.

Insolvency litigator joins Corrs Chambers Westgarth as special counsel

Insolvency litigator joins Corrs Chambers Westgarth as special counsel

26 October 2015

Australian firm Corrs Chambers Westgarth has appointed Michelle Dean as special counsel in its Perth office.

Asian-focused gold miner files for bankruptcy in Canada

Asian-focused gold miner files for bankruptcy in Canada

26 October 2015

Canadian mining company Besra Gold has filed for protection under Canada’s Bankruptcy and Insolvency Act (BIA), as it seeks to restructure its gold mining operations in Vietnam and Malaysia.

ECB not liable for losses from Greek debt restructuring

ECB not liable for losses from Greek debt restructuring

23 October 2015

An EU court has dismissed claims by a group of bondholders against the European Central Bank over the Greek sovereign debt restructuring of 2012, ordering them to pay costs and ruling that their losses were a normal consequence of making an obviously risky investment.

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

Canadian payday lender makes Chapter 15 filing and formulates restructuring plan

21 October 2015

Insolvent Canadian payday loans company Cash Store has filed for chapter 15 protection in New York, winning a stay against a host of court proceedings on both sides of the border, including a federal securities lawsuit launched by a Japanese shareholder.