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Credit Suisse has convinced an English judge to let it bring a claim against Japan’s SoftBank over its restructuring of a former Greensill client, which the Swiss bank alleges deprived it of receivables and left it holding unsecured notes for which a default was inevitable.
07 December 2022
A US subsidiary of Calgary-based construction company Nilex has been dragged into Canadian bankruptcy proceedings by its parent to sell its US assets, with the group revealing plans to seek Chapter 15 recognition of the sale in Colorado.
30 November 2022
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
The English High Court has considered the requirement for conducting a valuation “in a commercially reasonable manner” when exercising the self-help enforcement remedy of appropriation for what lawyers say is the first time, in a decision that could provide future guidance for Part 26A restructuring plan valuations too.
23 November 2022
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
A panel presented by the International Insolvency Institute at the American Bankruptcy Institute's London conference took stock of what the UK’s potential adoption of two new UNCITRAL Model Laws could mean for cross-border insolvencies running through England, and for the controversial 19th century Gibbs rule that requires English law-governed debt to be restructured in the UK.
27 October 2022
Freshfields Bruckhaus Deringer has advised Ukrainian state-owned natural gas company Naftogaz on a deal reached with one tranche of Eurobond holders to defer repayments for two years – but negotiations with two more tranches are ongoing.
05 September 2022
Less than a week after Malaysia’s former Prime Minister Najib Razak was ordered to begin a 12-year prison sentence for fraud linked to the 1MDB sovereign wealth fund, the liquidators of nine more offshore investment vehicles believed to be linked to the fraud have filed for recognition in Miami.
01 September 2022
The Cayman voluntary liquidators of a holding company for a group of cryptocurrency investors have asked a local court to take over supervision of the case, after its director failed to sign a declaration of solvency.
11 July 2022
The liquidators of a British Virgin Islands fund have lodged a breach of contract claim against Delaware-registered borrower Tremont International in New York, where they secured Chapter 15 recognition in 2019.
27 May 2022
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