What will happen to your business if an international bankruptcy interrupts your supply chain?
In the two weeks since Hanjin Shipping Co. began bankruptcy proceedings in South Korea and the U.S., creditors have seized some of the company’s vessels. Other ships have been denied entry into ports around the world due to uncertainties regarding payment of docking fees and other costs. Manufacturers are scrambling to find alternative means to deliver their products. While Hanjin works to find the necessary financing to get their container ships moving again, thousands of sailors and at least one British performance artist remain stranded at sea.
Asterion professionals have extensive bankruptcy experience. Howard S. Cohen, one of our consultants, published an extensive article for International Corporate Rescue entitled “Cross-Border Bankruptcies: Hands Across the Water? A Look at Chapter 15 and the Role of the Financial Advisor (paywall). This article was adopted by the International Association of Restructuring, Insolvency & Bankruptcy Professionals (INSOL) for use in INSOL’s Global Insolvency Practice course, part of the preparation for the designation “Fellows of INSOL International.” If you are involved in a bankruptcy with cross-border issues, the experts at Asterion may be able to assist you.
Are litigation funding strategies changing the game?
The ramifications of the successful litigation against Gawker financed by Peter Thiel continue to unfold. A Silicon Valley start-up whose mission until recently was to create a centralized database of state court decisions is now using its technology to develop an algorithm to automate decisions about which lawsuits to fund. Meanwhile, other wealthy clients are hiring the lawyers who represented Hulk Hogan, perhaps with the intention of having a similar impact on other media outlets.
If funding for litigation is a factor in your case, consider contacting the financial experts at Asterion. Our consultants are experienced in working on both sides of matters supported by third party litigation funding.
On The Lighter Side: Is there something fishy about that seafood dish you ordered?
One in five fish you eat is an imposter, and some may even be part plastic.
The Thread Recommends: Brushing up on contronyms (words with two opposite meanings).
Spotlight on Receiverships and Liquidation Services
Asterion, Inc. (“Asterion”) has extensive experience providing services in fiduciary roles such as trustee, receiver, examiner, plan administrator, liquidating trustee, disbursing agent, claims agent or replacement plaintiff.