Liquidators in Hong Kong, who have been trying to take control of Cayman-incorporated China Properties Group against months of resistance from its directors, are petitioning to wind up its Hong Kong subsidiaries indirectly owned through the BVI after failing to persuade a local court to order meetings to replace their boards.
18 March 2024
A Dutch court has declined to adopt a tailor-made protocol established by a New York judge to guide the global bankruptcy of coffee trader Mercon but said it has no objection to making the JIN guidelines applicable in the case.
18 March 2024
Global heat exchange group Arvos has won sanction of an English scheme of arrangement to restructure several loan facilities at a lightning-fast hearing, following unanimous support from creditors.
18 March 2024
A team from Norton Rose Fulbright offers a comparative analysis of the treatment of foreign and domestic tax debts across three different European restructuring processes, looking at whether they permit such debts to be compromised, and whether that may influence a debtor’s choice of restructuring jurisdiction. They also note that cross-border recognition of tax compromises has yet to be tested in the EU, leaving open the question of whether such compromises would be effective.
15 March 2024
A Russian a bankruptcy trustee trying to get control of an Italian villa that she claims belongs to former Vneshprombank owner Georgy Bedzhamov, will go to trial against his long-term partner – who claims the property belongs to her – in May, where questions will be raised over a litigation funding agreement the trustee has entered that could be in breach of sanctions.
15 March 2024
Just over a year since it failed to consummate a first scheme, Chinese real estate services group E-House’s latest restructuring attempt has been thrown into question again, by a Chinese bank refusing to release guarantee obligations given by a group subsidiary.
14 March 2024
A Calgary-based oil producer has entered CCAA proceedings in its native Alberta and secured a temporary restraining order in Delaware, after signing a DIP facility and stalking horse agreement with a key creditor.
14 March 2024
Parties seeking to appoint receivers over more than one segregated portfolio belonging to the same company do not need to make separate applications, a judge in the Cayman Islands has found, refunding the filing fees for a segregated portfolio company that was forced to make nine different petitions.
14 March 2024
After less than two years at Dechert, partner Doug Mannal has joined Morrison Foerster in New York, bringing with him experience representing unsecured creditors in the Seadrill, CHC and Bristow Chapter 11s.
13 March 2024
Electric vehicle manufacturer Next.e.GO Mobile has entered insolvency in Germany for the second time in four years, months after it completed a deSPAC merger through which it was listed on the Nasdaq Stock Market.
13 March 2024
Unlock unlimited access to all Global Restructuring Review content