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Espírito Santo Insolvency Receivers Put Art, Buildings Up for Sale

Art work and office buildings are being sold by bankruptcy receivers for the Espirito Santo group of companies that collapsed last year amid fraud allegations, The Wall Street Journal reported. The 36-story Espírito Santo Plaza in Miami went on the b ...

Daily Headline - global.abi.org - 04/16/2015 - 22:03 - 0 comments

Rizzo Bottiglieri-De Carlini Armatori Files Chapter 15

Rizzo Bottiglieri de Carlini Armatori SpA, a marine freight transportation services provider, moved to shield its U.S. assets by filing a bankruptcy petition in Texas after seeking protection from creditors in Italy, Bloomberg News reported. The company ...

Daily Headline - global.abi.org - 04/08/2015 - 22:39 - 0 comments

Kirkland M&A Update: "Crossing State Lines Again – Appraisal Rights Outside of Delaware"

Although once an afterthought on the M&A landscape, in recent years appraisal rights have become a prominent topic of discussion among dealmakers. In an earlier M&A Update we discussed a number of factors driving the recent uptick in shareholders ...

Resource Article - twallace@abiwor... - 04/06/2015 - 09:50 - 0 comments - 0 attachments

Recognition for City of Detroit Restructuring

The deal team was chosen from more than 250 participating companies to receive this award. Since 2002, The M&A Advisor has honored the leading turnaround transactions, companies and dealmakers. Our firm was recognized as one member of a talented d ...

Resource Article - twallace@abiwor... - 04/06/2015 - 09:39 - 0 comments - 0 attachments

N.J. State Pensions - Veto of Pension Funding Violates Public Employees’ Contractual Rights

On February 23, 2015, Judge Mary C. Jacobson of the New Jersey Superior Court for Mercer County held that Governor Chris Christie’s line-item veto of remedial funding for public-employee pensions violated those employees’ contractual rights to such fundi ...

Resource Article - twallace@abiwor... - 04/06/2015 - 08:56 - 0 comments - 0 attachments

As Argentina and Hedge Funds Battle, Citigroup Bows Out

The nasty battle between Argentina and a group of New York hedge funds has claimed another victim: Citigroup. The bank said on Tuesday that it would shut its custody business in Argentina after a federal judge in New York last week rejected its request t ...

Daily Headline - global.abi.org - 03/17/2015 - 20:49 - 0 comments

David Drumm Seeks More Time To File Appeal Papers In US

Former Anglo Irish Bank chief executive David Drumm has made an emergency request to a US court seeking more time to file legal papers arguing why it should overturn a ruling blocking a write-off of his debts, the Irish Times reported. Mr Drumm asked ...

Daily Headline - global.abi.org - 03/17/2015 - 20:51 - 0 comments

Australia's IFM Investors To Pay $5.7 Billion For Indiana Toll Road

Australia's IFM Investors said on Thursday it had agreed to pay $5.73 billion to buy the bankrupt operator of a major U.S. toll road, making its biggest overseas investment, Reuters reported. IFM Investors, which is owned by 30 Australian pension fu ...

Daily Headline - global.abi.org - 03/11/2015 - 22:29 - 0 comments

Corinthian’s Canadian Subsidiary Files for Bankruptcy

The Canadian subsidiary of embattled for-profit education company Corinthian Colleges Inc. has filed for bankruptcy under Canada’s insolvency law after an Ontario education regulator took action against the company’s 14 Canadian campuses, The Wall Stre ...

Daily Headline - global.abi.org - 02/23/2015 - 22:25 - 0 comments

Davis Polk’s Global Distress Signal | Winter 2015 Issue

Global Distress Signal takes an in-depth look at: Recent developments in U.S. cross-border insolvency cases, including important court decisions that could significantly impact both U.S. and non-U.S. clients and practitioners Emerging trends in g ...

Resource Article - twallace@abiwor... - 02/18/2015 - 13:56 - 0 comments - 0 attachments

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