Work Area: Insolvency
Bill Brandt 1949 – 2023
A “fearless” pioneer of the global restructuring industry and influential driver of US bankruptcy law reform, Bill Brandt has died at the age of 73.
06 June 2023
Cescon Barrieu grows team with promotion and hire
Brazil’s Cescon Barrieu Flesch & Barreto Advogados has gained two new partners in its litigation and stressed assets practices in São Paulo, after hiring a lawyer from BTG Pactual’s distressed debt subsidiary and promoting a senior associate.
06 June 2023
Akin Gump continues special situations growth with Hong Kong hire
Akin Gump Strauss Hauer & Feld has recruited a new partner from alternative investment firm Värde Partners in Hong Kong, continuing a recent hiring spree that has seen it add five new partners to its special situations and private credit group in the last eight months.
05 June 2023
HK liquidators “authors of their own misfortune” in failing to wind up Singaporean metals trader
The liquidators of a Peking University Founder Group subsidiary in Hong Kong have failed to wind up a Singaporean former affiliate of the group, in a dispute that pitches “aggrieved” offshore bondholders against investors who purchased some of the mainland group’s assets in a 2021 restructuring.
02 June 2023
Cash machine manufacturer plans parallel Ch11 and WHOA
Cash-strapped cash machine manufacturer Diebold Nixdorf has signed a restructuring support agreement with key creditors, as it set its sights on finishing a pre-packaged Chapter 11 and Dutch scheme within 80 days, with help from Jones Day and Jackson Walker.
31 May 2023
“Bankruptcy is inherently a creature of competing interests”: Purdue plan reinstated
Purdue Pharma’s restructuring plan has been reinstated after a lengthy appeal – but the Second Circuit, conflicting with the Third Circuit, found the bankruptcy court that originally authorised the plan lacked constitutional authority to enter a final order approving releases for its non-debtor owners.
31 May 2023
Gibson Dunn hires O’Melveny & Myers’ US co-head
O’Melveny & Myers’ former US restructuring co-chair has joined Gibson Dunn & Crutcher in New York, just over a month after O’Melveny recruited one of Gibson Dunn’s partners in London.
31 May 2023
Morses Club’s scheme gets the greenlight
The UK’s largest door-to-door pay day lender has secured sanction of its English scheme to deal with redress claims from 636,000 potential claimants.
30 May 2023
Hong Kong Airlines hit with HK$56.3 million injunction
Hong Kong Airlines has been ordered to hold HK$56.3 million on trust after failing to convince a Hong Kong court that a construction group’s claim for breach of contract against it was discharged when the airline’s dual Hong Kong-UK restructuring became effective last month.
30 May 2023
Bedzhamov battles Russian trustee again for permission to sell Belgravia properties
The bankrupt former owner of Russia’s Vneshprombank has again asked an English Court to let him sell two London properties for his legal and living expenses, as his Moscow-based bankruptcy trustee tries to block the deal ahead of a UK Supreme Court hearing in November.
30 May 2023