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COVID Pandemic Triggers Growth in Corporate Bankruptcy Filing

COVID Pandemic Triggers Growth in Corporate Bankruptcy Filing
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Stoneway Noteholders Kick Off Restructuring Venue Dispute

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Stoneway Noteholders Kick Off Restructuring Venue Dispute
Law360 (May 4, 2021, 7:58 PM EDT) Secured creditors of Canadian holding company Stoneway Capital Ltd. have told a New York bankruptcy court they wanted to resume a restructuring proceeding that was pending in Ontario before Stoneway filed for Chapter 11 protection in the Empire State.
In a Friday filing, a steering committee representing an ad hoc group of senior secured noteholders with more than $600 million of outstanding principal asked the New York bankruptcy court to lift the automatic stay imposed when Stoneway filed its petition so that they could revive the debtor s consensual restructuring in Canada. ....

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