Bankruptcy

News and information on bankruptcy and bankruptcy law

International Edition

Jones Day Appointed On Body Shop Administration, Weil and Dechert Advise on Rescue Deal

By Kasvi Sehgal | February 15, 2024

The transactions come as statistics on Thursday showed the UK entered a recession towards the end of 2023.

3 minute read

International Edition

Billion-Euro Distressed Companies in France Boost Firms' M&A and Litigation Work

By Rick Mitchell | February 6, 2024

Many factors, including heavy debt loads and tight financing markets, are making troubled companies prime M&A targets, either for 'a change of control or for major carve-outs,' one lawyer said.

7 minute read
International Edition

China's Property Crisis Marks Sidley's Time in the Sun, But Will It Shake Up the Playing Field?

By Jessica Seah | January 30, 2024

Outside of China's property crisis, activity in the restructuring realm has been muted in Asia. But now that Sidley Austin has sewn up the market on China real estate, how will rival firms shape up?

6 minute read

International Edition

Hong Kong Court Has Had 'Enough', Orders China Evergrande to Liquidate

By Jessica Seah | January 29, 2024

In court, Evergrande was represented by Des Veoux Chambers silk, Jose-Antonio Maurellet, SC. Advising on its restructuring is Sidley Austin.

4 minute read
International Edition

Bowmans Lures Team of 6 From Johannesburg Competitor

By Jennigay Coetzer | January 11, 2024

The team acts for major financial institutions, liquidators, business rescue practitioners and corporate entities.

2 minute read
International Edition

World's Elite Law Firms Lead as Farfetch Secures $500M Rescue Deal

By Kasvi Sehgal | December 19, 2023

South Korean e-commerce giant Coupang has stepped in to pull the London-based fashion retailer out of likely collapse.

3 minute read
International Edition

US Law Firms Clinch $4.8B Debt Restructuring for Brazilian Miner Samarco

By Amy Guthrie | December 13, 2023

The joint venture between Brazil's Vale and BHP has required extensive assistance from Cleary Gottlieb, Davis Polk, Sullivan & Cromwell, Norton Rose and more than a dozen Brazilian law firms in the wake of a devastating tailings dam collapse in 2015.

3 minute read
International Edition

Major Law Firms Secure Roles as Selfridges and Chrysler Building Co-Owner Files for Bankruptcy

By Kasvi Sehgal | December 11, 2023

Austria-based Signa racked up debts numbering in the billions, it has been widely reported.

2 minute read
International Edition

SRA Spares UK Lawyers from One-Off Axiom Ince Payment

By Jack Womack | November 29, 2023

The regulator has opted against implementing a cap on the amount that can be claimed against its compensation fund, as the "the scale of consumer loss would be too large" and would lead to "an unacceptable loss in public confidence in solicitors".

2 minute read
International Edition

SRA Discovered Axiom Ince Client Account Shortfall Three Months Before Closing Firm

By Jack Womack | November 15, 2023

Earlier this week, the UK's Serious Fraud Office arrested seven individuals and carried out searches across nine locations as part of a criminal investigation into Axiom Ince.

2 minute read
The Legal Intelligencer

Focused on Long-Term Profit Growth, Blank Rome Sees Strong 2023

By Amanda O'Brien | February 29, 2024

This is the fifth consecutive year in which net income growth surpassed 8.5%, coinciding with the course of the firm's five-year strategic plan.

6 minute read
Delaware Business Court Insider

SEC Calls Terraform's Dentons Retainer 'Opaque Slush Fund' in Bankruptcy Court

By Ellen Bardash | February 29, 2024

The SEC has asked Judge Brendan Linehan Shannon to deny the application unless Dentons returns to Terraform the $81 million still available from its retainer and files engagement letters and agreements about payment with the court.

3 minute read
Texas Lawyer

Kirkland, Jackson Walker and Ex-Bankruptcy Judge Hit With Another Suit

By Adolfo Pesquera | February 27, 2024

A former CEO alleges Jackson Walker and Kirkland knew of a judge's relationship with a partner "and used it to profit" by bringing tens of millions of dollars through the "Jones'-Freeman conduit."

5 minute read
The Legal Intelligencer

The Continuing Review of Real Estate Sector Bankruptcy Rulings

By Andrew C. Kassner and Joseph N. Argentina Jr. | February 27, 2024

Continuing our series on distressed real estate cases, we again decided to report on two cases that present different issues. One involves the debtor's sale of real estate over the objection of the secured lender, which was approved. The other involves a debtor's attempt to enjoin a construction bond company from continuing to pay claims by subcontractors after the filing of the bankruptcy case, which was denied.

10 minute read
The American Lawyer

For Sullivan & Cromwell, Pre-Petition FTX Work Bites Back

By Dan Roe | February 27, 2024

Class-action plaintiffs and an appellate judge are curious about the regulatory and M&A work Sullivan & Cromwell did for FTX before the exchange collapsed.

7 minute read
New York Law Journal

Georgia Election Workers Argue Giuliani's $148 Million Judgment Is Not Dischargeable in Bankruptcy

By Jane Wester | February 23, 2024

The election workers, Ruby Freeman and Shaye Moss, are represented by attorneys at Willkie Farr & Gallagher, Dubose Miller and the nonprofit group United to Protect Democracy.

3 minute read
Texas Lawyer

What the Fifth Circuit's Ruling on Avoidance Actions Means for Debtors

By John Kane | February 21, 2024

"While the Fifth Circuit's decision put to bed a longstanding question of law, it also gives rise to many others," writes John Kane of Kane Russell Coleman Logan.

6 minute read
New York Law Journal

Creditor Remedies Prevail in Delaware

By Corinne Ball | February 21, 2024

This article addresses how a Creditor's Committee may sue members of an LLC, despite Delaware law limitations, and how prebankruptcy exercise of proxy rights in reliance on Delaware law are upheld in a subsequent bankruptcy case.

12 minute read
New York Law Journal

Ex-Big Law Partner Sentenced to 3 Years Supervised Release in False Statements Case

By Jane Wester | February 20, 2024

John Roesser told Judge Analisa Torres that he has "always, always, always loved the law" and regretted the impact of his offense on the court system.

3 minute read
New York Law Journal

Hiring Paul Weiss Bankruptcy Partner, Selendy Gay Targets Bankruptcy-Related Litigation

By Dan Roe | February 20, 2024

Kelley Cornish, a member of Paul Weiss' management committee, will join the firm next week.

3 minute read

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