Work Area: Corporate reorganisations

IWIRC, Austin: 2023 rising star named as latest network revealed

The International Women’s Insolvency and Restructuring Confederation has named the latest winner of its rising star award and revealed it is set to launch a new network in Dubai during its 30th annual fall conference.

11 October 2023

Opioid claimants to lose $1bn as Mallinckrodt’s Ch11 plan confirmed

Ireland-registered pharma group Mallinckrodt has secured court approval of its second Chapter 11 plan in two years, leaving its opioid creditors with US$1 billion less than the company agreed to pay them under its first plan last year.

10 October 2023

Hyflux liquidator joins AlixPartners

A former Kroll managing director who acted as liquidator to Singaporean water utility Hyflux has joined AlixPartners in the city-state.

10 October 2023

McDermott ex-shareholder files suit against Judge Jones in Texas

A wiped-out shareholder of oil and gas group McDermott International has brought a civil suit against the Texas judge who approved its Chapter 11 plan three years ago, complaining about his long-term romantic relationship with a local lawyer.

09 October 2023

Linklaters leads UK’s Metro Bank in Sunday night refinancing deal

A team from Linklaters has helped the UK’s Metro Bank work out a weekend rescue deal with shareholders and noteholders that will see it raise £325 million in capital and refinance £600 million in debt.

09 October 2023

European companies seek US protection

A century-old Mainz-headquartered bank has secured recognition of its German liquidation in Delaware, paving the way for it to sell a portfolio of US life insurance policies, while the Scottish bankruptcy trustee of a former BBC executive’s estate and a Polish digital healthcare company have each sought Chapter 15 protection in Texas.

06 October 2023

Atento at ‘pivotal moment’ as English convening hearing looms

New York-listed business process outsourcing firm Atento is set to ask the English High Court to convene meetings for creditors to vote on a restructuring plan after it said it had met a “key milestone” by securing backstop commitments for US$76 million in exit financing.

05 October 2023

Samarco moves forward with plan enforcement in New York

Counsel to South American miner Samarco tells GRR it has secured a New York court’s approval to enforce its long-awaited Brazilian reorganisation plan in the US.

05 October 2023

Purdue Pharma ruling could lead to more Ch15 cases, ABI panellists say

The US could be put at a competitive disadvantage if the country’s highest court finds that third-party releases granted to Purdue Pharma’s non-debtor owners are not authorised by the Bankruptcy Code, according to a pair of prominent academics.

04 October 2023

Former Paul Hastings restructuring vice-chair joins Ropes & Gray

After hiring Paul Hasting partner Chris Dickerson in Chicago, one of Ropes & Gray’s restructuring co-chairs tells GRR the firm has plans to continue to grow its restructuring and special situations practice and expand its share of the market.

03 October 2023

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