North America

Results for North America

Banks Hire Lazard to Solve Turkey's Biggest Default

Banks that provided a $4.75 billion loan to Turk Telekomunikasyon AS’s major shareholder hired Lazard Ltd. to advise them on the nation’s biggest ever default, according to three people with knowledge of the matter. The creditors also hired Raiffeisen In ...

Daily Headline - global.abi.org - 09/19/2017 - 22:40 - 0 comments

Sears Canada Executive in Talks with Private Equity for Deal

Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than C$650 million ($533 million), citing people familiar with the matter, Reuters reported on a Wall Street Journal story. ...

Daily Headline - global.abi.org - 09/17/2017 - 23:11 - 0 comments

Conyers' BVI Legal and Professional Services are Operational Following Hurricane Irma

Last Wednesday Hurricane Irma passed through the BVI as a Category 5 hurricane. With sustained winds of 185 mph, it was one of the most powerful hurricanes in recorded history. There is considerable damage to homes, property and infrastructure. Our immediate priority has been the safety of our ...

Resource Article - twallace@abiwor... - 09/13/2017 - 10:23 - 0 comments - 0 attachments

UPDATED LINKS: Federal Reserve Finalizes QFC Rule Restricting Default Rights

The Board of Governors of the Federal Reserve System released today a Final Rule Establishing Restrictions on Qualified Financial Contracts of Systemically Important U.S. Banking Organizations and the U.S. Operations of Systemically Important Foreign Ban ...

Resource Article - twallace@abiwor... - 09/13/2017 - 09:46 - 0 comments - 0 attachments

Everything must Go: Retail Chapter 11 filings

The global retail sector is struggling. Throughout the world, previously successful and storied retailers and brands are facing increasing pressure from the “online” retailers. Some are succumbing to these pressures and becoming insolvent, including fi ...

Resource Article - twallace@abiwor... - 09/13/2017 - 09:36 - 0 comments - 1 attachment

Seadrill Files Bankruptcy to Shrink Offshore Driller's Debt

$5.7 billion in debt, with no amortization payments due until 2020. Should lower-ranking creditors join ...

Daily Headline - global.abi.org - 09/13/2017 - 17:35 - 0 comments

Fairfax Is Said to Back AfriSam to Clinch African Cement Deal

Fairfax Financial Holdings Ltd. is prepared to inject as much as 5 billion rand ($386 million) to pay off bank debt owed by AfriSam Group Pty Ltd. and help South Africa’s second-biggest cement ... inject as much as 5 billion rand ($386 million) to pay off bank debt owed by AfriSam Group Pty Ltd. and ...

Daily Headline - global.abi.org - 09/04/2017 - 20:34 - 0 comments

Data Protection – Cayman Islands

In June 2017, The Data Protection Law (the “DP Law”) was published in the Cayman Islands Official Gazette. The DP Law will be brought into force by Cabinet Order. Related regulations and guidance are being settled such that we do not expect the DP Law to ...

Resource Article - twallace@abiwor... - 08/30/2017 - 13:50 - 0 comments - 0 attachments

Qunar Cayman Islands Limited: Court confirms interim payments are appropriate in Cayman Appraisal Actions

In Qihoo 360 Technology Co. Ltd (“Qihoo”) (unreported 26 January 2017) the Honourable Justice Quin held that the Grand Court had power to order an interim payment to be made by the Company to dissenters in fair value proceedings under Section 238 of the ...

Resource Article - twallace@abiwor... - 08/30/2017 - 13:24 - 0 comments - 0 attachments

Bermuda Introduces Bribery Act Legislation

Why should you be concerned? •The Bribery Act creates a new corporate criminal offence – failing to prevent bribery by an associated person – which applies even to non-Bermuda companies and partnerships that carry on business (or part of a business) ...

Resource Article - twallace@abiwor... - 08/30/2017 - 13:12 - 0 comments - 0 attachments

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