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William Macadam’s Journalist Portfolio

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Former Baccarat owner fails to annul Hong Kong bankruptcy

Former Baccarat owner fails to annul Hong Kong bankruptcy

Global Restructuring Review — The former owner of French luxury crystal manufacturer Baccarat has been rebuked by a Hong Kong court for failing to comply with a bankruptcy order and offering "incredible" explanations for her conduct. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

Estonian trustee secures Ch15 recognition to investigate alleged fraud

Estonian trustee secures Ch15 recognition to investigate alleged fraud

Global Restructuring Review — The Estonian trustee of an allegedly fraudulent crowdfunding platform has secured recognition of his appointment in Miami to help him track down assets and funds he believes are held in the US. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

Slaughter and May, Clifford Chance and Ashurst advising as Silicon Valley Bank UK arm sold to HSB...

Slaughter and May, Clifford Chance and Ashurst advising as Silicon Valley Bank UK arm sold to HSB...

Global Restructuring Review — Slaughter and May, Clifford Chance and Ashurst have all landed roles in the sale of the British arm of a California-headquartered bank, whose collapse has been flagged as a "systemic risk" by US financial regulators. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

Norwegian firms team up with Kirkland for refinancing of Oslo-listed offshore driller

Norwegian firms team up with Kirkland for refinancing of Oslo-listed offshore driller

Global Restructuring Review — Norwegian firms Schjødt, Wiersholm and Thommenssen, along with Kirkland & Ellis, have helped an Olso-listed offshore services company negotiate a US$660 million debt refinancing and equity deal that will see a major Seadrill investor double its stake.

English court approves securities transfer in UK's first-ever unsecured credit bid

English court approves securities transfer in UK's first-ever unsecured credit bid

Global Restructuring Review — The English High Court has approved what is believed to be the first-ever unsecured credit bid for an insolvent company's assets in the UK, in a case the judge described as "remarkable" at a two-day hearing last week.

E.ON, British Gas and Scottish Power ask English court to unwind Bulb transfer

E.ON, British Gas and Scottish Power ask English court to unwind Bulb transfer

Global Restructuring Review — Three of the UK's largest energy suppliers have asked the English High Court to review Bulb Energy's sale to rival Octopus, arguing the bidding process in the country's first-ever special energy supply company administration was "fundamentally unfair".

Weil counsel joins Reed Smith in London

Weil counsel joins Reed Smith in London

Global Restructuring Review — Reed Smith has recruited a new partner from Weil Gotshal & Manges in London, who brings with him 20 years of experience advising banks and hedge funds on international and domestic restructurings. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

B Riley acquires Farber's corporate arm in Canada

B Riley acquires Farber's corporate arm in Canada

Global Restructuring Review — Los Angeles-headquartered financial services platform B Riley Financial has expanded into Canada after acquiring Toronto-headquartered restructuring and advisory firm Farber's corporate arm.

Administrators' costs face scrutiny in UK's first special energy administration

Administrators' costs face scrutiny in UK's first special energy administration

Global Restructuring Review — An English judge has adjourned two costs applications by administrators appointed in the UK's first-ever energy supply company administration so an independent insolvency practitioner can scrutinise their work.

Saudi British Bank accuses Abengoa of "simulating" solvency

Saudi British Bank accuses Abengoa of "simulating" solvency

Global Restructuring Review — A Saudi partner of HSBC has accused the board of directors of Spanish renewables conglomerate Abengoa of decapitalising the company to the detriment of ordinary creditors and failing to file bankruptcy proceedings despite it allegedly being insolvent since 2015. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

UK Supreme Court to hear Russian trustee's recognition appeal

UK Supreme Court to hear Russian trustee's recognition appeal

Global Restructuring Review — The bankruptcy trustee of the former owner of Russia's Vneshprombank is set to challenge an appellate decision refusing to entrust his London properties to her before the UK's highest court.

Insolvency Law Academy dedicates mediation centre in honour of late minister

Insolvency Law Academy dedicates mediation centre in honour of late minister

Global Restructuring Review — The think tank founded by former INSOL International president Sumant Batra has named two Indian judges as emeritus fellows, and dedicated a new mediation centre to another late luminary in the insolvency space.

ILA, New Delhi: inaugural event credits Indian Bankruptcy Code for economic growth

ILA, New Delhi: inaugural event credits Indian Bankruptcy Code for economic growth

Global Restructuring Review — India's economic growth and the refinement of the country's Insolvency and Bankruptcy Code are not mutually exclusive, a crowd of leading Indian and international practitioners and scholars heard this week at the inaugural conference of the Insolvency Law Academy - a not-for-profit organisation set up by former INSOL International president Sumant Batra.

Brown Rudnick team joins Parisian boutique

Brown Rudnick team joins Parisian boutique

Global Restructuring Review — French private equity boutique Moncey Avocats has hired a partner from Brown Rudnick’s recently closed Paris office to lead its restructuring practice.

Health sensor SPAC files dual US-Cayman restructuring

Health sensor SPAC files dual US-Cayman restructuring

Global Restructuring Review — A company that develops sensors used in smart watches has filed the second known application for restructuring officers in the Cayman Islands and entered a pre-packaged Chapter 11 in New York to equitise two sets of notes. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

India proposes "comprehensive" Bankruptcy Code shake-up

India proposes "comprehensive" Bankruptcy Code shake-up

Global Restructuring Review — The Indian government is inviting comments on a suite of proposed reforms to the country's Insolvency and Bankruptcy Code, from a new electronic case management platform to special rules for real estate developers. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

Australian court recognises businessman's Singaporean bankruptcy

Australian court recognises businessman's Singaporean bankruptcy

Global Restructuring Review — The Singaporean trustees of a bankrupt Australian businessman have secured recognition of their appointments in Australia so they can investigate his assets after he failed to file a statement of affairs in compliance with Singapore's insolvency laws. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content.

Petropavlovsk schemes sanctioned as Citibank deadline looms

Petropavlovsk schemes sanctioned as Citibank deadline looms

Global Restructuring Review — The administrators of London-listed Russian gold miner Petropavlovsk have secured relief from an English court in a race to distribute the proceeds of the group's sale to a Russian mining conglomerate before its Citibank accounts are closed.

Saudi adds cross-border bankruptcy rules based on UNCITRAL Model Law

Saudi adds cross-border bankruptcy rules based on UNCITRAL Model Law

Global Restructuring Review — New procedures for recognising and enforcing foreign bankruptcies have been introduced in Saudi Arabia for the first time, which one local lawyer tells GRR should help to encourage investment in the country.

Baccarat investor staves off possible UK jail time with last-minute concessions

Baccarat investor staves off possible UK jail time with last-minute concessions

Global Restructuring Review — A Chinese former owner of French luxury crystal manufacturer Baccarat has averted possible jail time in the UK, after brokering an out-of-court deal with her Hong Kong bankruptcy trustees to adjourn a contempt application over her refusal to cooperate with them.

Spain's new pre-pack law tested as nine bidders vie for Abengoa's businesses

Spain's new pre-pack law tested as nine bidders vie for Abengoa's businesses

Global Restructuring Review — Rival bidders seeking to buy Spanish renewables conglomerate Abengoa's operating assets are testing new powers to scrutinise pre-pack sales under Spain's recently enacted transposition of the EU preventive frameworks directive.

FTX CEO and Bahamian JPLs sign co-operation agreement

FTX CEO and Bahamian JPLs sign co-operation agreement

Global Restructuring Review — Despite an escalating war of words at the start of last week, the team behind bankrupt cryptocurrency platform FTX's Chapter 11 case and the securities regulator of the Bahamas and its appointed liquidators have agreed to cooperate.

Celsius ruling "should be helpful" to FTX customers, ex-CEO faces fraud suit

Celsius ruling "should be helpful" to FTX customers, ex-CEO faces fraud suit

Global Restructuring Review — After a New York court ruled this week that bankrupt crypto brokerage Celsius owns funds deposited by thousands of investors, lawyers in the US and Singapore tell GRR the decision provides important drafting lessons and may prove a useful precedent for FTX customers.

Two insolvency-specialist barristers take silk

Two insolvency-specialist barristers take silk

Global Restructuring Review — Two barristers with a specialism in insolvency have made it onto the King's Counsel appointments list following the 2022 competition.
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