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Robins Kaplan adds bankruptcy co-chair

Robins Kaplan adds bankruptcy co-chair

15 July 2016

Robins Kaplan has promoted Scott Gautier to national co-chair of its restructuring and business bankruptcy group.

Brazilian airline closes lacklustre exchange offer to ease debt

Brazilian airline closes lacklustre exchange offer to ease debt

14 July 2016

Brazilian airline Gol Linhas Aereas Inteligentes has restructured US$175 million worth of debt through a landmark exchange offer that uses the airline’s spare parts as collateral, but which nevertheless reduces the carrier’s debt burden by a less-than-hoped-for US$101 million.

Reed Smith adds Ashurst partner in London

Reed Smith adds Ashurst partner in London

14 July 2016

In the second exit from Ashurst’s insolvency team this week, London-based Diane Roberts has joined Reed Smith as a partner in its restructuring group.

Creditors accuse China Fishery Group of abusing US bankruptcy protections

Creditors accuse China Fishery Group of abusing US bankruptcy protections

14 July 2016

A group of creditors have accused affiliates of multinational industrial fishing consortium China Fishery Group (CFG) of exploiting US bankruptcy protections to abuse creditors’ rights and derail an asset sale process.

Brazilian clothing company completes country’s largest extrajudicial reorganisation

Brazilian clothing company completes country’s largest extrajudicial reorganisation

13 July 2016

Brazilian clothes retailer Colombo has completed a 1.6 billion reais (US$480 million) debt restructuring, in what is thought to be the largest extrajudicial reorganisation in the country’s history.

BRUSSELS: protecting the wealth of Europe

BRUSSELS: protecting the wealth of Europe

13 July 2016

The development of pre-insolvency mechanisms alongside formal tools such as schemes of arrangement has been a valuable response to complex financial issues and should be borne in mind by regulators attempting to harmonise regimes, speakers said at a conference in Brussels on 16 to 17 June.

Davis Polk bolsters NY team with lateral hire and promotion

Davis Polk bolsters NY team with lateral hire and promotion

12 July 2016

Davis Polk & Wardwell has hired a new counsel from Milbank Tweed Hadley & McCloy and promoted one of its own associates to partner.

Brazilian court refuses to recognise BVI proceeding on public policy grounds

Brazilian court refuses to recognise BVI proceeding on public policy grounds

12 July 2016

Brazil’s Superior Court of Justice has said it won’t recognise the liquidation of a British Virgin Islands company, citing risks to the judicial recovery of the company’s Brazilian subsidiary.

Latham & Watkins poaches Ashurst partner in London

Latham & Watkins poaches Ashurst partner in London

11 July 2016

Latham & Watkins has hired Simon Baskerville from Ashurst as a partner in its finance department.

NY court approves Russian buyout of bankrupt Cypriot tanker fleet

NY court approves Russian buyout of bankrupt Cypriot tanker fleet

11 July 2016

A New York bankruptcy judge has approved the sale of Cyprus-registered Arctic tanker operator Primorsk International Shipping’s fleet to a Russian shipping company for US$215 million.

Reforms in Hong Kong and the Netherlands as new Malaysian regime awaits signature

Reforms in Hong Kong and the Netherlands as new Malaysian regime awaits signature

08 July 2016

Hong Kong has adopted bail-in legislation and the Netherlands has amended its approach to directors’ liability in recent weeks, as sweeping changes await passage in Malaysia.

Lawyers react to India’s new cross-border recognition mechanism

Lawyers react to India’s new cross-border recognition mechanism

08 July 2016

India’s new Bankruptcy Code includes provisions allowing Indian courts to cooperate with foreign courts in cross-border proceedings - but some lawyers have concerns the new law in its current form may bring procedural burdens.