North America

Results for North America

Cost To Complete Baha Mar Mega-Resort Has Risen To $400 Million

The cost of completing the stalled $3.5 billion Baha Mar mega-resort in the Bahamas has risen to $400 million, according to a letter from the project's developer. Baha Mar Ltd, run by Sarkis ... completing the stalled $3.5 billion Baha Mar mega-resort in the Bahamas has risen to $400 million, according ...

Daily Headline - global.abi.org - 07/27/2015 - 23:12 - 0 comments

Offshore Case Digest: Issue No. 9 - Bermuda, the British Virgin Islands and the Cayman Islands

The Offshore Case Digest offers readers a high level summary of the major commercial cases decided in Bermuda, the British Virgin Islands and the Cayman Islands between November 2014 and February 2015. Our goal is to provide a useful reference tool for c ...

Resource Article - abi_admin - 07/27/2015 - 16:07 - 0 comments - 0 attachments

Cayman Islands Mutual Funds – Cancellation of Licence or Certificate of Registration and changes to Audit Waivers

On 30 March 2015, the Cayman Islands Monetary Authority (“CIMA”) issued the Rule on Cancellation of Licence or Certificate of Registration of Regulated Mutual Funds (the “Rule”), click here for link to the Rule, and Regulatory Procedure for Cancellation of Licences issued pursuant to Section 5 and ...

Resource Article - abi_admin - 07/27/2015 - 16:06 - 0 comments - 0 attachments

S.D.N.Y. Bankruptcy Court Grants Chapter 15 Recognition to Large Brazilian Bankruptcy Proceeding

On July 13, 2015, Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York issued a decision recognizing the Brazilian bankruptcy proceedings of OAS S.A. and certain of its affiliates as a foreign main proceeding under ...

Resource Article - abi_admin - 07/27/2015 - 16:04 - 0 comments - 0 attachments

Detroit Bankruptcy: The M&A Advisor Case Study

Despite their many financial challenges, local governments rarely seek solutions in bankruptcy court. In fact, there have been approximately 640 municipal bankruptcies in the U.S. since 1937, when the current law was enacted. As a result, the bankruptcy ...

Resource Article - abi_admin - 07/27/2015 - 14:58 - 0 comments - 0 attachments

AIFMD Update – New AIFMD Regime for Cayman Islands Investment Funds and Cayman Islands Investment Fund Managers

Cayman Islands based investment funds and investment managers are regulated by the Cayman Islands Monetary Authority ("CIMA") under the Mutual Funds Law ("MFL") and Securities Investment Business Law ("SIBL") respectively. T ...

Resource Article - abi_admin - 07/27/2015 - 14:52 - 0 comments - 0 attachments

Rights of trade creditors in the US

A trade creditor who supplies goods to a company that files for bankruptcy should seek to enforce certain rights in the Chapter 11 case. For instance, the Bankruptcy Code Section 546(c) preserves a creditor’s right of reclamation under state law. The a ...

Resource Article - abi_admin - 07/27/2015 - 14:49 - 0 comments - 1 attachment

Oil and Gas Operators’ Liens: Protecting the Operator’s Interests

Operators’ Liens typically provide that the operator, processor or transporter, as applicable, is granted a first priority lien and charge over the subject matter of the agreement (i.e., the joint lands, the production and/or the joint equipment). Howeve ...

Resource Article - abi_admin - 07/27/2015 - 14:39 - 0 comments - 0 attachments

First Circuit Affirms Unconstitutionality of Puerto Rico’s Recovery Act: First of Several Legal Roadblocks Ahead for Puerto Rico

Puerto Rico encountered another roadblock in its efforts to resolve its looming debt crisis on July 6, 2015, when the U.S. Court of Appeals for the First Circuit affirmed the decision of the District of Puerto Rico that Puerto Rico’s Debt Enforcement and ...

Resource Article - abi_admin - 07/27/2015 - 14:37 - 0 comments - 0 attachments

Seventh Circuit Affirms Dismissal of Bankruptcy Trustee Claims Against Auditor Based on In Pari Delicto Doctrine

On July 7, 2015, the United States Court of Appeals for the Seventh Circuit issued a decision affirming the dismissal of a bankruptcy trustee’s Illinois law accounting malpractice claims against the investment funds’ pre-bankruptcy auditor on the grounds ...

Resource Article - abi_admin - 07/27/2015 - 13:31 - 0 comments - 0 attachments

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