Mid-September saw the first-ever GRR Live in New York, which opened with the Southern District Bankruptcy Court’s chief judge, Cecilia Morris, celebrating the “courageous, creative, pragmatic” jurists that have helped facilitate and shape cross-border restructuring practice in the US. GRR travelled stateside to witness her keynote speech, as well as a panel on whether competition for the control of cross-border proceedings is a positive development, and a retrospective look at some of the IP and absolute priority rule issues thrown up in the multinational group insolvencies of Nortel and Kodak.
We also report from the Sixth Annual Singapore Insolvency Conference, with an exclusive interview with Justice Jonathan Harris looking to find out how Singapore’s new restructuring laws may impact Hong Kong. In this magazine, he puts the legal changes in context, and reflects on his recent decision in Z-Obee, which helped get around the lack of a restructuring mechanism in provisional liquidation proceedings in Hong Kong.
Staying on the subject of Hong Kong, Etelka Bogardi, a partner at Norton Rose Fulbright, takes a magnifying glass to the special administrative region’s new bank resolution framework – the first comprehensive new resolution regime to be introduced in an Asian jurisdiction. Elsewhere, a team led by Paul Apáthy at Herbert Smith Freehills in Sydney considers a host of recent Australian law reforms that they describe as a veritable “bonanza”!
We also have conference reports from INSOL Europe in Warsaw, a Global Distressed Investments Forum event in London, and the 2017 Single Resolution Board Conference that took place in Brussels.
Finally, in this edition, our regular columns take on a special character. In a thought-provoking Europe column, Bob Wessels, professor emeritus of international insolvency law at Leiden University and expert counsel on restructuring and insolvency to the European Commission, examines the meaning of the public policy exemption when it comes to automatic recognition of foreign insolvency arguments.
In this magazine:
- Hong Kong bank resolution update: Three months post FIROO
- Interview: Judge Jonathan Harris
- Australia’s law reform bonanza: an update from Down Under
- The inaugural GRR Live, New York
- Europe: Public policy – a tight exception
- Pre-insolvency: Ruling on Abengoa’s homologation challenges – case law breaks through the Spanish statutory mist
- Sovereign Debt: Venezuela’s restructuring – a realistic framework
- INSOL Europe Warsaw: National perspectives on prevention
- Global Distressed Investments Forum: Frontier markets or future problems?
- Single Resolution Board Conference 2017: Cross-border questions
- Global Developments
- Community News