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Dechert hires DLA cross-border specialist as partner

Dechert hires DLA cross-border specialist as partner

06 January 2016

Dechert has hired a cross-border restructuring specialist from DLA Piper as a partner in its London office.

Mexican homebuilder first to restructure under new insolvency laws

Mexican homebuilder first to restructure under new insolvency laws

05 January 2016

Mexican homebuilder Corporación GEO has become the first company to file and receive court approval for a pre-pack bankruptcy proceeding under the country’s new insolvency regime, restructuring approximately US$4.5 billion in debt.

EU court says German law applies to UK company's director

EU court says German law applies to UK company's director

04 January 2016

The Court of Justice of the European Union has ruled that the head of an insolvent UK-incorporated company that had its centre of main interests in Germany, may be subject to German law on the liability of directors in light of local insolvency proceedings.

Hong Kong court rejects wind up in Cayman KPMG competence dispute

Hong Kong court rejects wind up in Cayman KPMG competence dispute

18 December 2015

A Hong Kong court has dismissed a winding-up petition for a foreign company because it was already being liquidated in the Cayman Islands, rejecting the petitioner’s “entirely fanciful” allegations that Cayman-appointed liquidators KPMG would fail to deal with the matter speedily.

Shepherd and Wedderburn hires team in Glasgow

Shepherd and Wedderburn hires team in Glasgow

16 December 2015

Scottish firm Shepherd and Wedderburn has hired a three-partner team from local rival HBJ Gateley in Glasgow.

Norwegian seismic group files for bankruptcy

Norwegian seismic group files for bankruptcy

16 December 2015

A Norwegian seismic surveyor has filed insolvency proceedings in Oslo, citing the sustained drop in crude oil prices – but its UK, US and Singaporean arms are continuing to operate as normal.

Akerman appoints new chair of bankruptcy and reorganisation

Akerman appoints new chair of bankruptcy and reorganisation

11 December 2015

Florida-headquartered firm Akerman has appointed a new bankruptcy and reorganisation co-chair, as the former head of the group moves to lead the firm’s newly created fraud and recovery practice.

Vantage Drilling files 24 Chapter 11 cases with restructuring plan

Vantage Drilling files 24 Chapter 11 cases with restructuring plan

11 December 2015

Two dozen international subsidiaries of a Cayman Islands-based driller have filed for Chapter 11 protection, blaming the oil price collapse and links to scandalised Brazilian state oil company Petrobras for their woes.

MoFo grows London practice as it seeks to set up cross-border hub

MoFo grows London practice as it seeks to set up cross-border hub

11 December 2015

Morrison & Foerster has hired two partners in its London restructuring practice, as it seeks to make the office a hub for cross-border work.

Willkie Farr hires from Paul Hastings in Paris

Willkie Farr hires from Paul Hastings in Paris

11 December 2015

Willkie Farr & Gallagher has hired partner Lionel Spizzichino from Paul Hastings in Paris.

ECJ clears up clawback confusion in cross-EU cases

ECJ clears up clawback confusion in cross-EU cases

11 December 2015

The European Court of Justice recently issued a preliminary ruling on the use of the EU Insolvency Regulation’s article 13 to defend a clawback action, in the case of an insolvent Finnish sports brand and the Dutch arm of Nike.

German ship fuel reseller ignores Chapter 15 stay as Texan creditors protest

German ship fuel reseller ignores Chapter 15 stay as Texan creditors protest

11 December 2015

A German affiliate of a marine fuel group that filed Chapter 15 recognition proceedings in a New York bankruptcy court, but said it would ignore its entitlement to automatic stay, is facing opposition to the filing from Texan creditors.