HHR Bankruptcy Report

Category Archives: Cross-Border Restructuring

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Baha Mar Creditors Head Back to Bahamas

Posted in Chapter 11, Cross-Border Restructuring, Delaware
On Tuesday, September 15, 2015, Judge Kevin J. Carey, United States Bankruptcy Judge for the District of Delaware, granted motions to dismiss Chapter 11 proceedings relating to the failed Baha Mar resort project filed by Baha Mar’s Bahamian creditors CCA Bahamas Ltd. and Export-Import Bank of China.  The Debtors include fourteen corporations based in the… Continue Reading

Supreme Court Will Hear Argentina’s Appeal of Discovery Orders

Posted in Argentina, Cross-Border Restructuring, SCOTUS, Sovereign Debt
On January 10, 2014, the Supreme Court agreed to hear Argentina’s appeal of the Second Circuit’s decision allowing “holdout” bondholders to subpoena banks for information about Argentina’s assets.  EM Ltd. v. Republic of Argentina, 695 F.3d 201 (2d Cir. 2012), cert. granted, Case No. 12-842, 2014 LEXIS 15 (Jan. 10, 2014).  In the lower courts… Continue Reading

Second Circuit Rejects Argentina’s Request for Reconsideration

Posted in Argentina, Cross-Border Restructuring, Second Circuit, Sovereign Debt
On November 18, 2013, the Second Circuit issued an order denying Argentina’s petition for rehearing of the court’s decision upholding an injunction that barred Argentina from paying holders of restructured debts while “holdout” creditors remain unpaid.  NML Capital, Ltd. v. Republic of Arg., Case No. 12-105, Docket No. 1035 (2d Cir. Nov. 18, 2013).  As… Continue Reading

CRG Partner Chris Kiplok’s Observations Regarding OGX Bankruptcy in the News

Posted in Brazil, Cross-Border Restructuring
Oil firm OGX Petroleo & Gas Participacoes SA, petroleum, filed for bankruptcy protection in a Brazilian court on Wednesday, October 30th, after the company had difficulties finding and producing oil and natural gas. OGX is owned by former billionaire Eike Batista and a part of his EBX Group conglomerate. The bankruptcy case is anticipated to… Continue Reading