Work Area: Corporate reorganisations

Mike Jervis 1962 - 2023

PwC partner Mike Jervis, one of the original Lehman Brothers administrators in the UK and special manager of the collapsed public services contractor Carillion, died on 4 January after a long illness.

10 January 2023

US chemicals group emerges from Delaware bankruptcy

Houston-headquartered chemical company TPC Group has completed a Chapter 11 restructuring, eliminating more than half its US$1.3 billion debt and resolving liabilities arising from an explosion at one of its Texas plants three years ago.

19 December 2022

Another crypto firm bites the dust: BlockFi enters Chapter 11 in New Jersey

The crypto winter has upped its body count with another platform, BlockFi, being placed on Chapter 11 life support in New Jersey, as it sues FTX’s founder Sam Bankman-Fried to seize shares he allegedly pledged to it as collateral.

29 November 2022

Irish lessors lose latest round in fight to overturn Garuda’s restructuring plan

Two Irish lessors fighting the US$9.5 billion restructuring of Indonesia’s national airline have failed to wind up the company in Australia after a judge in Sydney found it is "immune" from the jurisdiction of the Australian courts.

28 November 2022

Effective cross-border restructuring in a modern commercial world: time for an alternative to the rule in Gibbs?

It may be time for an alternative to the rule in Gibbs, says Scott Atkins, president of INSOL International and Australian chair at Norton Rose Fulbright, as he examines recent jurisprudence on the 130-year-old rule from around the common law world, and the potential impact – or lack thereof – that the UK’s contemplated implementation of the UNCITRAL Model Law on the Recognition and Enforcement of Insolvency-Related Judgments will have on its operation.

18 November 2022

SGRI, Singapore: crypto collapses “enliven” opportunity for mediation

The high-profile collapses of FTX and other crypto companies will lead to the “next wave” of mediations and arbitrations, according to speakers at the Singapore Global Restructuring Initiative’s inaugural conference.

15 November 2022

ABI, London: Are we back to the 70s? What high inflation and interest rates mean for restructurings

At the American Bankruptcy Institute’s first in-person London event since the start of the pandemic, panellists delved into what the return of high rates of inflation and interest mean for the restructuring space.

21 October 2022

Peking Uni bondholders secure keepwell deed victory in Hong Kong

In what has been hailed an important milestone for keepwell deeds, which may boost cross-border cooperation between Hong Kong and Beijing, the mainland administrators of Peking University’s corporate arm have lost their bid to appeal a Hong Kong decision allowing bondholder disputes to proceed in Hong Kong.

12 October 2022

Hong Kong judge applies Peking Founder findings in new keepwell deed dispute

Hong Kong’s Mr Justice Harris has applied his “momentous” findings in Peking Founder’s keepwell deed dispute to a new claim against Chinese semiconductor maker Tsinghua Unigroup, ruling again that deed disputes should be adjudicated in Hong Kong after confirming with a local expert that resulting judgments can be placed as evidence before a mainland court.

27 May 2022

Stroock’s former co-chair says size is everything as 43-strong team joins Paul Hastings

“To truly compete on a global level, we needed to be bigger,” Stroock & Stroock & Lavan’s former chair of financial restructuring has told GRR, as 43 of the firm’s lawyers in New York and Los Angeles prepare to join Paul Hastings in the coming days.

04 April 2022

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