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Limited recognition of foreign insolvency proceedings in Singapore

by Dentons on

Creditors and anyone seeking recognition of foreign insolvency proceedings in Singapore should consider how the presence of an injunction or an adverse court order may affect the chances of successful recognition....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

No US? No big deal. At least when it comes to the once-and-future TPP pact, which Japan, Canada, Australia, and 8 other US allies signed yesterday in Santiago, Chile....more

Zetta Jet: multi-jurisdictional investigation and asset tracing

by DLA Piper on

DLA Piper is advising Zetta Jet in relation to ongoing proceedings in the United States, Singapore and Australia. This multi-jurisdictional matter centers on the bankruptcy proceedings and subsequent collapse of the luxury...more

Chapter 15: Delaware Court Sends U.S. Creditor Packing … to Italy

In the Chapter 15 proceeding of Energy Coal S.p.A., the Delaware Bankruptcy Court required a U.S. creditor to recover its claim in Italy....more

Credit support, collateral and creditors’ committees - leveraged finance deals in France

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 2, 2018 - Following the release of White & Case’s 4th annual EMEA Leveraged Finance Report in January, this Alert discusses certain key legal issues when structuring leveraged...more

Stephen Phillips Weighs in on How Brexit Could Change UK Insolvency Law

Stephen Phillips, Co-head of Orrick's European Restructuring team, recently spoke with IFLR regarding the effect that Brexit could have on a century-old insolvency rule in the UK. ...more

Riding Through International Waters: Assumption and Assignment of Executory Contracts in a Chapter 15 Section 363 Sale

Section 365 of the Bankruptcy Code provides a mechanism for the assumption and assignment or rejection of executory contracts. However, sometimes a contract is overlooked and is not affirmatively assumed or rejected in a...more

A closer look at round six of the NAFTA negotiations

by Dentons on

Round six of the NAFTA negotiations concluded in Montreal on January 29, 2018. Trade ministers from Canada, the United States and Mexico rejoined the talks this round with the aim of creating movement on contentious chapters....more

UK Restructuring Scheme Case Study: Guiding Bibby Offshore Into Safe Waters

by Latham & Watkins LLP on

UK-based offshore and subsea oil & gas services company solidifies its position and completes ownership transfer to noteholders in major company milestone. The recent Bibby Offshore recapitalisation is as fair and...more

The Year in Bankruptcy: 2017

by Jones Day on

The initial year of the Trump administration colored much of the political, business, and financial headlines of 2017, both in the U.S. and abroad. Key administration-related developments in 2017 included U.S. withdrawal from...more

Split Third Circuit Holds Transfer By Non-Debtor Cannot Be Fraudulent Transfer

Refusing to rely on “equitable principles” when interpreting the Delaware Uniform Fraudulent Transfer Act (DUFTA), the Third Circuit (2-1 decision) in Crystallex Int’l Corp. v. Petroleos De Venezuela, S.A, et als. held that a...more

Seeking refuge under Nordic EU-jurisdiction in insolvency cases?

by DLA Piper on

The Nordic countries have historically had a very uniform national legal framework with regards to insolvency related matters. The European Union, to which Norway is not a member and to which Denmark has opt-outs, complicates...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Takata's Japanese Bankruptcy Case Survives Public Policy Objection

by Dechert LLP on

As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Long Arm Jurisdiction? Foreign Counsel May Not Be Sanctioned Absent...

by Dechert LLP on

The Bankruptcy Court for the Southern District of New York recently held that a foreign counsel cannot be sanctioned for an attempt to assist its client in avoiding discovery orders issued by the court, when personal...more

Saudi Arabia Update - January 2018

by Dentons on

Legal developments - Draft Bankruptcy Law approved - Saudi Arabia’s bankruptcy and insolvency law regime has been governed by two regulations, the earliest dating back to 1930. These regulations have historically caused...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Russian transportation and logistics conglomerate FESCO PLC...

by Dechert LLP on

This case reiterates the opportunity that an English scheme provides to companies in emerging market jurisdictions seeking to restructure their English law debt obligations with international lenders. Mr Justice Snowden’s...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Agrokor: Croatian extraordinary administration proceedings...

by Dechert LLP on

In a significant judgment on 9 November 2017, the High Court in London granted recognition of the extraordinary administration proceedings on-going in respect of the Croatian conglomerate Agrokor as a foreign proceeding under...more

Exelco’s US Chapter 11 Case Dismissed in Favor of Belgian Proceeding

by Dechert LLP on

The Delaware Bankruptcy Court recently dismissed a Chapter 11 bankruptcy case pending before it and recognized, under Chapter 15 of the Bankruptcy Code, the debtor’s bankruptcy proceeding in Belgium. Exelco NV (“Exelco”), a...more

Focus on Restructuring Processes: CVAs and Liquidation in the context of Carillion

by Dechert LLP on

In recent months certain restructuring processes have gained quite some notoriety in press headlines in connection with a number of UK businesses. This article provides secured lenders with a brief recap on the key points to...more

Opportunities for Venture Capital Investments in Singapore in 2018

by Dentons on

Heading into 2018, we look back on several key developments in the legal landscape in the past year that we expect will provide new opportunities for venture capital funds in Singapore. We also share our thoughts on promising...more

The Italian Insolvency Law Reform Project

By the Law 155/2017, that became effective on November 14, 2017, the Italian Parliament required the Government to adopt, within the next 12 months, a comprehensive and organic reform of insolvency proceedings and rules...more

South Korean Cryptocurrency Exchange Hacked (Again)

As part of our Year in Preview series, we’ve recently covered both international cyberwar and the rise of cryptocurrency. Just before the holidays, both of these topics collided in a decidedly unpleasant manner. On...more

“Takata: The Unfortunate Recall” featured in the ACC Charlotte Chapter’s December Newsletter

David Conaway’s article, “Takata: The Unfortunate Recall”, was featured in the Association of Corporate Counsel Charlotte Chapter’s December 7, 2017 Newsletter. In the article, David discusses Takata’s airbag recall and the...more

Italy to revamp the system of legal priorities, and introduce non-possessory security

by Hogan Lovells on

The Italian Parliament passed law No. 155 of 19 October 2017 to delegate the Government to reform the rules on insolvency and financial distress. This has been commented widely in the press and between commentantors, as it is...more

Breaking New Ground in U.S. Cross-Border Insolvency Law

by Blank Rome LLP on

Russian Insolvency Proceedings Recognized under Chapter 15 of the United States Bankruptcy Code - Blank Rome LLP’s bankruptcy team has the distinction of representing foreign representatives of Russian debtors in two...more

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