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Simpson Thacher partner named New York bankruptcy judge

Simpson Thacher partner named New York bankruptcy judge

07 April 2016

A senior litigation partner at Simpson Thacher & Bartlett in New York has been appointed bankruptcy judge in the Southern District of New York.

EU sets standards for bank resolutions under the BRRD

EU sets standards for bank resolutions under the BRRD

06 April 2016

The European Commission has adopted a delegated regulation to help it introduce specific regulatory and technical standards for bank resolutions conducted under the EU’s new Bank Recovery and Resolution Directive, which came into effect at the start of last year.

Luxembourg fund recovers €1.3 million from “bankruptcy remote” Lehman company

Luxembourg fund recovers €1.3 million from “bankruptcy remote” Lehman company

06 April 2016

A Luxembourg investment company has been allowed to redeem €1.3 million from a “bankruptcy remote” orphaned entity incorporated by Lehman Brothers in Ireland, after a decision by the England and Wales High Court.

Community round-up: new heads and hires in US and Canada

Community round-up: new heads and hires in US and Canada

06 April 2016

US law firms Nelson Mullins Riley & Scarborough and Hahn & Hessen have appointed a new practice head and hired special counsel, respectively, while Canada’s BCF Business Law has added a new lawyer in Quebec City, and offshore firm Harneys has announced the secondment of a Bermudian litigator to Hong Kong.

UAE banking authority launches insolvency initiative as new law remains distant

UAE banking authority launches insolvency initiative as new law remains distant

05 April 2016

A recently announced initiative by the UAE Banks Federation (UBF) giving insolvent small and medium-sized enterprises a 90-day pre-bankruptcy workout period is welcome, but highlights unaddressed issues in the UAE’s insolvency legislation, lawyers have told GRR.

Hogan Lovells hires from DLA Piper in Australia

Hogan Lovells hires from DLA Piper in Australia

05 April 2016

Hogan Lovells has hired DLA Piper restructuring partner Scott Harris to practise in its Perth and Sydney offices.

Metals miner fights to keep Jamaican subsidiary's bankruptcy in the US

Metals miner fights to keep Jamaican subsidiary's bankruptcy in the US

04 April 2016

US mining and metallurgy company Noranda Aluminium is denying suggestions by one of its creditors that the bankruptcy proceedings of its Jamaican subsidiary do not belong in a Missouri court.

Morgan Lewis hires former Tokyo judge

Morgan Lewis hires former Tokyo judge

04 April 2016

Morgan Lewis & Bockius has added a former Tokyo High Court judge and adviser to financial services group Nomura Securities, as of counsel in Japan.

Ashurst helps Bank of Cyprus restructure property developer’s loans

Ashurst helps Bank of Cyprus restructure property developer’s loans

04 April 2016

Ashurst has advised Bank of Cyprus in the €400 million restructuring of one of Cyprus’s largest real estate and property developers and selected subsidiaries.

San Bernardino reaches settlement with Luxembourg creditor in Chapter 9 dispute

San Bernardino reaches settlement with Luxembourg creditor in Chapter 9 dispute

01 April 2016

The city of San Bernardino in California has agreed a settlement with a Luxembourg creditor, putting an end to court proceedings that were delaying completion of the city’s Chapter 9 bankruptcy adjustment plan.

Linklaters names new global restructuring co-chairs

Linklaters names new global restructuring co-chairs

01 April 2016

Linklaters partners Rebecca Jarvis and Richard Bussell have been named as the new co-chairs of the firm’s global restructuring and insolvency practice.

Chilean court says local restructure of Italy’s Enel must follow related party transactions rules

Chilean court says local restructure of Italy’s Enel must follow related party transactions rules

01 April 2016

A Chilean appeals court has ruled that the restructuring of a group of Latin American companies belonging to Italian utility Enel must be treated as a related party transaction, after a minority shareholder successfully sued the Chilean securities regulator over its interpretation of the deal.