Work Area: Corporate reorganisations

Dutch WHOA works, academic report finds

A newly-released report on the Dutch WHOA restructuring tool has shown that it generally works as intended by its legislators - to the surprise of the academic team that conducted the research.

06 February 2024

Mercon secures landmark recognition in Brazil, seeks Dutch protection

Global coffee trader Mercon Coffee has secured first-of-its-kind recognition of its Chapter 11 bankruptcy in Brazil, as a moratorium application the group has made under the WHOA procedure in the Netherlands is set to be heard next week.

05 February 2024

NRF expands in New York

A former Lowenstein Sandler partner who worked on the Chapter 11 restructurings of Lehman Brothers, children’s retailer Toys “R” Us and cryptocurrency lender Celsius Network has joined Norton Rose Fulbright.

02 February 2024

“The devil is in the detail”: Brazilian lawyers sceptical of new bankruptcy rules

Lawyers in São Paulo tell GRR that new bankruptcy rules proposed by Brazil’s government earlier this month are a good first step, but they need to be fleshed out before they will fulfil their aims of making liquidation processes more efficient, reducing litigation and giving creditors greater control.

31 January 2024

KBBO shareholders’ personal bankruptcies recognised in UK

Two shareholders of UAE investment group KBBO have secured UK recognition of their Abu Dhabi personal bankruptcies, after an English judge found a Dubai court’s refusal to recognise the proceedings under the Model Law in 2022 had “no relevance” to the application in the UK.

31 January 2024

Cayman court appoints ROs over SPC for first time

In a first-of-its-kind ruling under the Cayman Islands’ new regime, Mr Justice Kawaley has appointed restructuring officers over two individual portfolios within a segregated portfolio company.

30 January 2024

Lazard makes third January hire with new European co-head

Lazard has hired a new European restructuring co-head who is set to join the firm in February from Moelis after helping to found the latter’s European and Middle East offices more than a decade ago.

30 January 2024

New water company special administration regime brings rescue to the fore

The UK government has introduced new and draft legislation updating the special administration regime for water companies, among other things, making it possible to rescue water companies for the first time, and giving public debts priority.

30 January 2024

Milbank and Dechert advising as Brazilian airline GOL files Ch11

Brazilian airline GOL Linhas Aéreas Inteligentes has filed for bankruptcy in New York after securing a US$950 million debtor-in-possession financing package from a bondholder group.

25 January 2024

Canadian opioid claimants told to take Endo restructuring complaints to New York

A judge in Quebec has told a proposed class representative of a group of Canadian plaintiffs with opioid-related claims against Irish pharma group Endo that he should have taken his grievances to New York where the group’s Chapter 11 proceedings are playing out.

25 January 2024

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