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Oman Market Developments

The Sultanate of Oman is the longest continually independent Arab country in modern history, having marked the 45th anniversary of its establishment last year. Looking to the future the Sultanate's long term strategy, Vision...more

Additional Delaware Chapter 11 Filings Related to Abeinsa Holding Inc. (Case No. 16-10790)

On April 6, 2016, eight additional affiliates of Abeinsa Holding Inc. filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware. These entities include Abener Teyma Hugoton General...more

New Delaware Chapter 15 Filing – Abengoa, S.A.

Christopher Morris, the foreign representative of Abengoa, S.A. (Nasdaq: ABGB), a debtor in a foreign proceeding pending in Spain, and 24 affiliates have filed a chapter 15 petitions before the United States Bankruptcy Court...more

"There Can Sometimes Be Good Forum Shopping"

In Re Codere Finance (UK) Ltd [2015] EWHC 3778 (Ch), 17 December 2015, the English High Court sanctioned a scheme of arrangement involving an English company deliberately acquired by a foreign parent to attract the court's...more

Banking and Finance. Major Russian Legislation Changes for 2015

Throughout 2015, both external and internal factors had a considerable negative impact on the Russian economy. It is precisely in this context that amendments intended to modernize legislation to develop regulation of the...more

Indah Kiat Scheme – Preparation is Key

The judgment of Snowden J. in the adjournment of the convening hearing relating to a scheme of arrangement (the “Scheme”) proposed by Indah Kiat International Finance Company B.V. (“Indah Kiat”) emphasises some important...more

Innovation and collaboration are driving leveraged debt markets

European high yield and leveraged loan markets have a distinctly different feel from 12 months ago. Volumes and values notably dropped over 2015, leaving issuers and lenders wondering what to expect in 2016 and beyond....more

"Berau May Expand US Restructuring Options for Foreign Issuers"

A recent decision in the U.S. Bankruptcy Court for the Southern District of New York clarifies that restructuring options under Chapter 11 or Chapter 15 are available to foreign issuers of U.S. debt, even if those issuers...more

New Case Filing – Chapter 15 – PT Holdco, Inc.

PT Holdco, Inc. and four of its affiliates, including Primus Telecommunications Canada, Inc., which resell residential and business telecommunications services, have commenced cases (Lead Case No. 16-10131 (LSS)) under...more

New Delaware Chapter 15 Filing – Eastern Continental Mining and Development Ltd.

Ninos Koumettou, the foreign representative of Eastern Continental Mining and Development Ltd. has filed a chapter 15 petition before the United States Bankruptcy Court for the District of Delaware (Case No. 16-10121-BLS)... ...more

New Delaware Chapter 15 Filing – Madison Niche Assets Fund, LTD.

The official liquidators of Madison Niche Assets Fund, Ltd. and Madison Niche Opportunities Fund, Ltd., two Cayman Islands entities, have filed chapter 15 petitions on behalf of those entities (Case No. 16-10043).  The case...more

New Delaware Chapter 15 Filing – FC Windenergy GmbH

Holger Blümle, the insolvency administrator and foreign representative of FC Windenergy GmbH, which owns and operates wind farms, has commenced a case (Case No. 16-10056 (MFW)) under Chapter 15 of the Bankruptcy Code by...more

COMI and get it: international approaches to cross-border insolvencies

In our increasingly global world, cross-border insolvencies have become relatively commonplace. Lehman Brothers and Nortel Networks are just two of the matters where parallel proceedings in multiple jurisdictions were...more

Restructuring eNewsletter - Global Insight Series: Separate and independent rights for lenders - Can lenders go at it alone?

In the recent Hong Kong Court of First Instance case Charmway Hong Kong Investment v Fortunesea (Cayman) Ltd & Ors [2015] HKCU 171, the court considered whether an individual lender has the right under a syndicated credit...more

The Oman Update - Official Gazette 1127

Ministerial Decisions - Ministry of Commerce & Industry - Ministerial Decision No. 315/2015 Giving Effect to the Implementing Regulations of the GCC Unified Law of Anti-dumping, Countervailing Measures &...more

Overview of the Key Amendments into Legislation on Rehabilitation and Bankruptcy

On 13 November 2015, the Law of the Republic of Kazakhstan “On Introduction of Amendments and Supplements to Certain Legislative Acts of the Republic of Kazakhstan on the Issues of Rehabilitation and Bankruptcy” (the “Law”)...more

Aircraft finance – key features of the UK's Cape Town ratification

On 1 November 2015, the 2001 Cape Town Convention and its Aircraft Protocol (together Cape Town) became part of UK domestic law. This note brutally summarises certain key aspects of that ratification. For brevity's sake, it...more

Global Insight - Issue 15, Q3 2015

Restructurings are all about alternatives. It is one thing for a creditor to hold an instrument that entitles it to payment of $X on Y date. But if the debtor does not have the cash to satisfy the obligation when due, some...more

The Revised EC Regulation on Insolvency Proceedings Seeks to Resolve Practical Concerns

The European Council Regulation No 1346/2000 on insolvency proceedings (the Regulation) was adopted in May 2000 and came into force on 31 May 2002 in order to establish a European framework for cross-border insolvency...more

[Event] Don't Ruck with Us: Locke Lord 2015 Insolvency & Restructuring Conference - Oct. 16th, London

"Don't Ruck with Us," Locke Lord’s annual Insolvency & Restructuring conference, is back, chaired by David Grant, leading Partner commended by Chambers UK for being commercial, a great negotiator and a welcome sight on a...more

New Opportunities in Cross-Border Special Situations Lending

Recent changes in cross-border leveraged loan documentation requirements open up new possibilities for both borrowers and lenders. Cross-border leveraged loan documentation has become increasingly permissive with respect...more

OAS Chapter 15 decision sheds new light on cross-border insolvency practice, but may add complexity to financial institutions'...

In an interesting decision with important implications for both Chapter 15 practice and financial institutions’ global credit risk analyses, a US Chapter 15 court (the “Court”) granted recognition of a number of Brazilian...more

Material Changes To The Italian Bankruptcy Law

On June 27, 2015 the Italian government enacted the law decree no. 83 (the “New Decree”) that, among others, includes material changes to the Italian bankruptcy law (Royal Decree 267/1942, the “IBL”). The New Decree must be...more

Proposed new rules to facilitate debt restructuring of Italian companies

On June 27, 2015, the Italian government approved Law Decree No. 83/2015 (the “Decree”) with the aim of further improving the competitiveness of Italian bankruptcy legislation and facilitating debt restructuring of Italian...more

Global Insight - Restructuring e-Newsletter: Oil and gas sector distress - UK and US perspectives; PRC real estate restructuring;...

A UK perspective on oil price volatility - industry impact and legal considerations - The dramatic decrease in the price of crude oil over the last eleven months has had ramifications across the globe. With prices...more

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