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Indonesian bank guarantors’ bankruptcy recognised in Singapore

Indonesian bank guarantors’ bankruptcy recognised in Singapore

20 September 2019

Singapore’s High Court has recognised the personal bankruptcies of four members of an Indonesian family under common law, rejecting their argument that Singapore should require reciprocity from Indonesia before recognising a foreign bankruptcy outside the Model Law.

Amazon iron ore mine restructuring approved

Amazon iron ore mine restructuring approved

20 September 2019

A São Paulo court has approved the restructuring of a Brazilian iron ore mine after six years of closure, with Pinheiro Neto advising a syndicate of banks.

Shook Lin & Bok advising on construction restructuring

Shook Lin & Bok advising on construction restructuring

20 September 2019

A Singaporean construction company has retained Shook Lin & Bok and KordaMentha after admitting it could no longer continue as a going concern.

Singapore Post’s US subsidiaries file Chapter 11 in Nevada

Singapore Post’s US subsidiaries file Chapter 11 in Nevada

20 September 2019

A Singaporean postal services provider’s struggling US e-commerce businesses have filed for Chapter 11 protection in Nevada after failing to find buyers over the last six months.

Debenhams CVA survives landlords’ challenge

Debenhams CVA survives landlords’ challenge

19 September 2019

Landlords challenging UK department store Debenhams’ company voluntary arrangement have failed on four out of five grounds, with the court preserving the CVA but ordering it to be amended where it blocks the landlords’ right to forfeiture.

French Nortel arm to end administration amid Brexit concerns

French Nortel arm to end administration amid Brexit concerns

19 September 2019

One of the French arms of Nortel Networks is set to end its decade-long administration, after the High Court of England and Wales granted a termination and discharge application.

Madoff feeder fund settlement approved in BVI

Madoff feeder fund settlement approved in BVI

19 September 2019

A “monumental” US$860 million clawback settlement, between the liquidating trustee of Bernard Madoff’s investment firm and the liquidators of two British Virgin Islands feeder funds, is a step closer to approval after being signed off by a BVI court.

Ogier litigator Jennifer Fox promoted to partner in Cayman

Ogier litigator Jennifer Fox promoted to partner in Cayman

18 September 2019

Ogier litigator Jennifer Fox, who worked on the contentious liquidations of Madoff feeder fund Fairfield Sentry and the Saudi conglomerate Saad, has been promoted to partner in the firm’s Cayman Islands dispute resolution group.

Retired Delaware judge Kevin Carey heads to Hogan Lovells

Retired Delaware judge Kevin Carey heads to Hogan Lovells

18 September 2019

Former Delaware bankruptcy judge Kevin Carey is heading to Hogan Lovells following his retirement from the bench.

Quinn Emanuel advising on potential Folli Follie bondholder lawsuit

Quinn Emanuel advising on potential Folli Follie bondholder lawsuit

18 September 2019

Quinn Emanuel Urquhart & Sullivan is advising a UK-based service company on a proposed lawsuit against Swiss bank UBS, on behalf of bondholders of the beleaguered Greek jeweller Folli Follie.

Thomas Cook seeks non-main recognition of English schemes in New York

Thomas Cook seeks non-main recognition of English schemes in New York

18 September 2019

The British travel group Thomas Cook is seeking recognition of three English schemes of arrangement in New York – but as non-main proceedings to avoid an automatic stay in the US.

Reliance unit enters Chapter 11 with Paul Hastings advising

Reliance unit enters Chapter 11 with Paul Hastings advising

17 September 2019

A US unit of stricken Indian telecoms group Reliance Communications has submitted a pre-pack plan to a Chapter 11 court in Delaware, with Paul Hastings advising.