By Scott Atkins (AU) on Posted in Australia,Canada,Europe,Latin America,Singapore,UK,USThis article was first published on the Private Sector Development Blog on July 27, 2021. The article is co-authored with Mahesh Uttamchandani (Practice Manager, Financial Inclusion, Infrastructure & Access in the Finance, Competitiveness, and Innovation Global Practice, World Bank Group) and Andrés F. Martínez (Chair, World Bank/INSOL International Legislative and Regulatory Group). COVID-19 continues to… Continue Reading
By Howard Seife (US) on Posted in Australia,Canada,Europe,Latin America,UK,USOur global bankruptcy financial restructuring and insolvency team has released its quarterly International Restructuring Newswire. In this issue, our team examines the impact of the COVID-19 pandemic on the global restructuring market and the reform of legal framework that governs restructurings in Italy, Hong Kong, mainland China and Australia. Also, we are pleased to announce the appointment of… Continue Reading
By Howard Seife (US) on Posted in Australia,Canada,Europe,Latin America,UK,USThis issue of the International Restructuring Newswire surveys recent developments in no fewer than five countries. In the United States, on the 15th anniversary of the enactment of the Model Law on Cross-Border Insolvency as Chapter 15, we present our annual survey of new case law in the US. These decisions have far-reaching influence in the… Continue Reading
By NRF Digital Team on Posted in Latin America,USGlobal Head of Financial Restructuring and Insolvency Howard Seife is conference chair of INSOL International’s Latin America Virtual Seminar, which will cover the latest news and developments in cross-border restructurings in Latin America. The seminar will run over three different dates—March 4, March 11 and March 18. INSOL International is a global federation of lawyer… Continue Reading
By Matthew Thorn (UK) on Posted in Europe,Latin America,UKIntroduction Spanish gaming company Codere proposed an English scheme of arrangement to restructure over €800 million in existing note debt. As a part of the scheme, Codere agreed to pay fees and provide benefits to an ad hoc sub-committee of noteholders that were not available to all noteholders. The High Court held that those fees… Continue Reading
By Francisco Vazquez (US) on Posted in Latin America,USIt is common for a foreign debtor with assets or other connections to the U.S. to request an order enforcing its restructuring plan in the U.S. under Chapter 15 of the Bankruptcy Code. U.S. courts will generally grant comity to a foreign plan if it has been confirmed by a foreign court with jurisdiction and… Continue Reading
By Christy Rivera (US) on Posted in Latin America,USLast month, the Bankruptcy Court for the Southern District Of New York overruled an objection to proposed substantive consolidation provisions included in the plan of reorganization for Republic Airways Holdings Inc. See In re Republic Airways Holdings Inc., 565 B.R. 710 (Bankr S.D.N.Y. 2017). The bankruptcy court’s ruling provides a good refresher on the requirements… Continue Reading
