Avoidance/clawback

Cayman avoidance order overturned against Canadian businessman

An avoidance order handing shares in a Canadian businessman’s companies to his Cayman bankruptcy trustee has been overturned by a Cayman appeal court, but litigation against his wife is set to continue.

25 February 2021

Russian bankrupt opposes freezing injunction extension following recognition

Once foreign bankruptcy proceedings have been recognised, the English courts lack “small j jurisdiction” to continue a pre-recognition freezing injunction against the debtor, counsel to a bankrupt Russian businessman argued this week – ahead of a new recognition hearing in the Isle of Man.

19 February 2021

Brown Rudnick settles Lyondell trustee’s malpractice suit

Brown Rudnick has reached a settlement in principle with the litigation trust of bankrupt Dutch petrochemicals group LyondellBasell, which accused the firm of malpractice in failing to claw back US$300 million from Ukrainian-born billionaire Leonard Blavatnik.

27 January 2021

Delaware safe harbour ruling splits from New York courts

Bankruptcy safe harbour rules can apply to transfers made by debtors according to a Delaware court that has departed from a New York ruling that debtor transfers are not protected from avoidance actions.

20 January 2021

Heated debate as Galapagos jurisdictional wrangles exchanged

A Luxembourg fund and a German insolvency administrator that are challenging the Galapagos group’s 2019 UK restructuring in the US and Europe, have laid out before an English court why they shouldn’t be joined in a claim for declaratory relief that the restructuring was valid.

18 December 2020

Katten hires New York partner from Quinn Emanuel

Katten Munchin Rosenman has hired a new partner from Quinn Emanuel Urquhart & Sullivan, who has credits on the China Fishery and LyondellBasell bankruptcies.

07 December 2020

Dean & DeLuca brings avoidance claim against former Japanese JV partner

A Delaware-registered arm of bankrupt Thai-owned upmarket grocer Dean & DeLuca has filed an adversary claim in New York against its former Japanese joint venture partner and an affiliate, arguing they took advantage of the grocer’s insolvency to buy shares at a steep discount.

04 December 2020

Campbells hires new managing partner in Hong Kong

Offshore law firm Campbells has hired Shaun Folpp from Mourant to take over the management of its Hong Kong office.

21 August 2020

Pillsbury bolsters insolvency and restructuring practice in New York

US firm Pillsbury Winthrop Shaw Pittman has bolstered its insolvency and restructuring practice, hiring two veteran partners in New York.

06 August 2020

Brown Rudnick attorney negligence claim to go ahead in New York

The litigation trustee for bankrupt Dutch petrochemicals group LyondellBasell may pursue negligence claims against Brown Rudnick for the loss of a preference claim, a New York court has ruled.

30 July 2020

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