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US Congress seeks measures to avoid Hanjin repeat

US Congress seeks measures to avoid Hanjin repeat

14 January 2019

New measures to mitigate the impacts of major shipping companies entering bankruptcy could be on the horizon in the United States, after recently-passed legislation gave the US Comptroller-General a year to propose recommendations.

Nine West allowed US$22 million in extra DIP finance

Nine West allowed US$22 million in extra DIP finance

14 January 2019

Stricken fashion retailer Nine West has won permission to obtain extra debtor-in-possession funding to fight its increasingly litigious Chapter 11 case.

AlixPartners promotes in Paris, Chicago and Dallas

AlixPartners promotes in Paris, Chicago and Dallas

11 January 2019

AlixPartners has made up three new managing directors in its restructuring and turnaround practice.

Jersey court chooses EY over Viscount for multijurisdictional wind up

Jersey court chooses EY over Viscount for multijurisdictional wind up

11 January 2019

A Jersey court has appointed liquidators from EY to wind up five petroleum companies with assets in multiple jurisdictions, finding they would be better equipped than the island’s Viscount to coordinate the proceedings with others in the UK and the Cayman Islands.

Steinhoff CVAs stall after Seifert challenge

Steinhoff CVAs stall after Seifert challenge

11 January 2019

South African retail conglomerate Steinhoff says “a company claiming to be a creditor” has filed an objection to company voluntary arrangements for two of its European subsidiaries, one month after creditors approved them.

UK outlines plans to protect consumer prepayments in retail insolvencies

UK outlines plans to protect consumer prepayments in retail insolvencies

10 January 2019

The UK government has responded to a 2016 Law Commission report on consumer prepayments in retailer insolvencies, announcing it will tighten up protections – but declining to give consumer prepayments preferential status.

Former Kirkland partner and Pillarstone GC joins Sidley

Former Kirkland partner and Pillarstone GC joins Sidley

10 January 2019

Sidley Austin has hired private equity lawyer Mark Knight for its restructuring group in London.

Oi settles Pharol dispute for €25 million

Oi settles Pharol dispute for €25 million

10 January 2019

Brazilian telecoms company Oi has resolved a cross-border dispute with a dissenting major shareholder, saying it can now push ahead with its US$20 billion restructuring plan.

SunEdison investors secure class certification for potential misrep claim

SunEdison investors secure class certification for potential misrep claim

10 January 2019

Shareholders suing restructured solar energy company SunEdison for alleged misrepresentation are a step closer to a class action lawsuit, after securing court approval for class certification.

Cambridge Analytica director can’t ditch role in Chapter 7 case

Cambridge Analytica director can’t ditch role in Chapter 7 case

10 January 2019

The sole remaining director of scandal-ridden political consultancy firm Cambridge Analytica has been refused permission to step aside as the company’s representative in its Chapter 7 bankruptcy in New York.

GRR to host second Cayman conference in March

GRR to host second Cayman conference in March

09 January 2019

Allen & Overy partner Laura Hall from New York and UK barrister Hilary Stonefrost QC of South Square Chambers will be co-chairing the second edition of GRR Live Offshore in the Cayman Islands this March.

Court confirms “unique status” of insolvency proceedings as Abraaj adjourned

Court confirms “unique status” of insolvency proceedings as Abraaj adjourned

09 January 2019

The Cayman Islands Grand Court has adjourned a winding-up petition against private equity investor Abraaj Holdings for a third time, finding the applicant had failed to identify “any immediate, tangible benefit” of an official liquidation.