Fulltext Search
Newbuilding Orders and Prices at Korean Shipyards Are Up, but Too Late Perhaps for Sungdong

The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month.

The effect of the CPO is to provisionally prohibit all creditors of the yard from taking legal action in South Korea to secure and enforce their claims by attachment, arrest or foreclosing of their security interests.

South Korea, USA, Insolvency & Restructuring, Litigation, Haynes and Boone LLP
Weathering the storm: Vitro’s Concurso plan is theoretically enforceable in the United States . . . but not this time . . . under these circumstances

On November 28, 2012, the United States Court of Appeals for the Fifth Circuit published an opinion affirming the bankruptcy court’s ruling that the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B.

USA, Insolvency & Restructuring, Litigation, Haynes and Boone LLP, Comity, Stay of execution, United States bankruptcy court, Fifth Circuit
Weathering the storm: vitro’s concurso plan is manifestly contrary to public policy . . . at least for now

On June 13, 2012, the United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) published an opinion ruling on whether the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B.

USA, Texas, Insolvency & Restructuring, Litigation, Public, Haynes and Boone LLP, Debtor, Comity, Title 11 of the US Code, United States bankruptcy court, US District Court for Northern District of Texas