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Singapore court suggests reform over maritime lien registration

Singapore court suggests reform over maritime lien registration

25 May 2018

A Singapore appeals court has called for legislative reform over the legal status of non-registered liens on sub-freights, saying an issue thrown up in a vessel operator's liquidation laid bare a “tension between maritime and insolvency practitioners”.

IBRC loan guarantor seeks discovery, wants Chapter 15 case left open as back-up for negligence claims

IBRC loan guarantor seeks discovery, wants Chapter 15 case left open as back-up for negligence claims

25 May 2018

An Irish-American businessman has asked the Delaware bankruptcy court for permission to obtain discovery from the Chapter 15 foreign representatives of the Irish Bank Resolution Corporation (IBRC), so he can pursue negligence claims against the institution in Ireland.

Don’t stop receiving GRR!

Don’t stop receiving GRR!

25 May 2018

The General Data Protection Regulation comes into force today. So even if you’re paying for GRR, from tonight, you will no longer receive our news briefing unless you opt in.

Italian court appoints special administrator over bankrupt cryptocurrency exchange

Italian court appoints special administrator over bankrupt cryptocurrency exchange

25 May 2018

An Italian court has appointed a special administrator over bankrupt cryptocurrency exchange platform BitGrail, following an application made by a Norwegian national representing thousands of the platform’s users, with advice from the law firm BonelliErede.

Indian code’s first avoidance order faces appeal

Indian code’s first avoidance order faces appeal

24 May 2018

Construction company Jaiprakash Associates will appeal the first avoidance order passed under India’s new Insolvency and Bankruptcy Code, which ordered it to return 759 acres of land to its insolvent subsidiary.

DLA Piper’s Ankri joins Ashurst in Paris

DLA Piper’s Ankri joins Ashurst in Paris

24 May 2018

Ashurst has hired DLA Piper partner Noam Ankri in its Paris office.

Chemicals company seeks bankruptcy protection in US and Canada

Chemicals company seeks bankruptcy protection in US and Canada

24 May 2018

A Montreal-headquartered sustainable chemicals manufacturer has filed for Chapter 11 in Delaware, with plans to begin Canadian proceedings for its Canadian subsidiaries too.

Singapore court dismisses winding-up as arbitration continues

Singapore court dismisses winding-up as arbitration continues

23 May 2018

A Singaporean shipping company has won dismissal of winding-up proceedings filed against it by a Bermudian shipowner, by citing a dispute over the debt that has escalated to arbitration in London.

Kazakh bank fails to claw back former owner’s gift to son

Kazakh bank fails to claw back former owner’s gift to son

23 May 2018

An English appeals court has ruled that a Kazakh bank cannot use the UK’s insolvency statute to recover its former owner’s £1.1m transfer to his son.

Greenberg Traurig can’t withdraw from Poymanov Chapter 15

Greenberg Traurig can’t withdraw from Poymanov Chapter 15

23 May 2018

A bankruptcy judge has refused to allow Greenberg Traurig to stop representing a company set up by a former Russian businessman in his personal Chapter 15 case, despite the firm’s protests that it hasn’t communicated with or received payment from their client in months.

Online customer in Hong Kong subject to US personal jurisdiction

Online customer in Hong Kong subject to US personal jurisdiction

22 May 2018

A foreign online customer of a bankrupt wine supplier is subject to personal jurisdiction in the United States, according to a fraudulent transfer ruling in a Californian bankruptcy court.

Toys “R” Us Australia enters administration two months after US parent’s collapse

Toys “R” Us Australia enters administration two months after US parent’s collapse

22 May 2018

Voluntary administrators have been appointed over the Australian arm of toy giant Toys “R” Us, after a final bidder walked away from its sale process.