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Eleven new silks, as Canadian former judge joins South Square

Eleven new silks, as Canadian former judge joins South Square

24 March 2020

Eleven UK barristers with insolvency and restructuring practices are among 114 who were appointed Queen’s Counsel at a ceremony in London last week, as South Square chambers announced that former Ontario Superior Court Justice Frank Newbould QC had joined it as an associate member.

Skadden and Togut face removal from newspaper group’s Chapter 11

Skadden and Togut face removal from newspaper group’s Chapter 11

24 March 2020

The US government is seeking to block newspaper group McClatchy from keeping Skadden Arps Slate Meagher & Flom and Togut Segal & Segal as counsel in its Chapter 11 proceedings, over concerns about the firms’ objectivity.

Community roundup: Duff & Phelps, Deloitte, Shoosmiths expand up north

Community roundup: Duff & Phelps, Deloitte, Shoosmiths expand up north

24 March 2020

Duff & Phelps, Deloitte and Shoosmiths have all expanded their restructuring divisions in the north of England, with new hires in Manchester and Leeds.

Scandal-hit Nygard’s Canadian receiver files in New York

Scandal-hit Nygard’s Canadian receiver files in New York

23 March 2020

The Canadian receiver of a scandal-hit clothing group has filed for Chapter 15 recognition in New York, where the group’s owner, fashion designer Peter Nygard, is facing allegations of rape and sexual assault.

Judge Drain appointed mediator in China Fishery's Chapter 11

Judge Drain appointed mediator in China Fishery's Chapter 11

23 March 2020

UPDATED: A New York bankruptcy court has appointed Judge Robert Drain as mediator in China Fishery Group’s Chapter 11 case to resolve disputes between its US trustee, British Virgin Islands (BVI) liquidators and noteholders - including two Hong Kong lawsuits over an alleged trade finance fraud.

English court recognises Brazilian insolvency of dissolved Schahin company

English court recognises Brazilian insolvency of dissolved Schahin company

23 March 2020

The dissolved English subsidiary of bankrupt Brazilian conglomerate Schahin Group has had its Brazilian insolvency recognised in England under the Cross-Border Insolvency Regulations.

Staving off COVID-19 collapses

Staving off COVID-19 collapses

20 March 2020

Updated: From government guarantees on loans, to tax holidays and relaxing directors’ duties: insolvency and restructuring experts in Europe have been comparing measures put in place by their governments to stave off large-scale corporate collapses in response to the COVID-19 pandemic. GRR asked: is enough being done and can the current legal landscape handle it?

Latest Hong Kong corporate rescue plans draw mixed response

Latest Hong Kong corporate rescue plans draw mixed response

20 March 2020

Hong Kong plans to introduce new restructuring tools including light-touch officeholders and moratoriums on creditor claims, in a move that has drawn praise from some local practitioners, and doubts over whether they will materialise.

Malaysian steel maker seeks US injunction following English recognition

Malaysian steel maker seeks US injunction following English recognition

20 March 2020

The foreign representative of a Malaysian steel maker is seeking Chapter 15 protection in California to block an attachment claim, weeks after an English court granted similar relief.

Hong Kong judge questions arbitration clause “inflexibility”

Hong Kong judge questions arbitration clause “inflexibility”

19 March 2020

A Hong Kong judge has ordered the winding-up of a shipping company despite its debt being subject to an arbitration clause, expressing concerns about a colleague’s approach to such clauses in a controversial 2018 judgment.


BVI court departs from English rulings on Norwich Pharmacal relief

BVI court departs from English rulings on Norwich Pharmacal relief

19 March 2020

In the first written ruling of its kind, a British Virgin Islands court has declined to follow recent English decisions and granted two foreign lending institutions Norwich Pharmacal relief to support their overseas proceedings.

Quantuma expands into Wales with appointment of new director

Quantuma expands into Wales with appointment of new director

19 March 2020

Advisory firm Quantuma has opened in Wales by hiring Paul Slevin as a new director, just days after it announced its first office in Scotland.