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Judicial managers appointed over Agritrade in Singapore

Judicial managers appointed over Agritrade in Singapore

30 March 2020

The Singapore High Court has made a full judicial management order against commodity trader Agritrade International, five weeks after putting interim measures in place over a suspected fraud.

Oil and gas fund speeds through Chapter 11 proceedings in under 28 hours

Oil and gas fund speeds through Chapter 11 proceedings in under 28 hours

27 March 2020

A Texas bankruptcy court has approved a pre-packed debt-for-equity swap for an oil and gas investment group.

Coronavirus and drop in oil price sees EP Energy Chapter 11 plan abandoned

Coronavirus and drop in oil price sees EP Energy Chapter 11 plan abandoned

27 March 2020

US oil and gas company EP Energy has had its Chapter 11 restructuring plan consensually revoked only two weeks after it was confirmed in Texas, with parties noting the “extreme” changes in market conditions.

Deloitte to face Adelphia negligence claims in Pennsylvania

Deloitte to face Adelphia negligence claims in Pennsylvania

27 March 2020

Big Four accountancy firm Deloitte is on the back foot after a US court decided to revisit breach of contract and negligence claims made against it over its role in the auditing of bankrupt cable television company Adelphia Communications.

Rajah & Tann and Cavenagh advising banks on Hontop restructuring

Rajah & Tann and Cavenagh advising banks on Hontop restructuring

27 March 2020

Rajah & Tann and Clifford Chance affiliate Cavenagh Law are advising lenders of Chinese-owned oil trader Hontop Energy, which is seeking a moratorium in Singapore after the coronavirus pandemic halted its operations.

Delaware judge orders interim recognition of Canadian auto parts maker’s CCAA proceedings

Delaware judge orders interim recognition of Canadian auto parts maker’s CCAA proceedings

26 March 2020

A Delaware court has granted interim recognition of a Canadian auto parts company’s CCAA proceedings, preventing US creditors from moving in to grab assets from its sales and distribution businesses in Indiana and California.

Cayman court sidesteps Hong Kong winding-up clash

Cayman court sidesteps Hong Kong winding-up clash

26 March 2020

A Hong Kong court has issued a winding-up order against a locally registered investment company, after a Cayman court adjourned a petition against its affiliate to avoid a jurisdiction clash.

Canada’s Pacer Construction clinches Cayman bankruptcy order

Canada’s Pacer Construction clinches Cayman bankruptcy order

26 March 2020

A Cayman Islands court has issued a bankruptcy order against the former president of a Canadian construction company, dismissing his complaints that the Cayman bankruptcy notice regime is “unconstitutional”.

Ashurst hires Slaughter and May veteran in London

Ashurst hires Slaughter and May veteran in London

25 March 2020

Slaughter and May veteran partner Richard de Carle, who worked on the international insolvencies of MF Global and Lehman Brothers, is set to join Ashurst’s corporate practice in London next month.

Administrators appointed over former BBC chair’s investment company

Administrators appointed over former BBC chair’s investment company

25 March 2020

An English court has appointed Quantuma partners Simon Bonney and Michael Kiely, and Moore Kingston Smith partner Brian Baker, as joint administrators of balance-sheet solvent theatre and film investment company Gate Ventures.

Austrian drug maker’s restructuring succumbs to coronavirus pandemic

Austrian drug maker’s restructuring succumbs to coronavirus pandemic

24 March 2020

An Austrian drugs and medical equipment manufacturer, whose restructuring was being overseen by Stefan Riel, will now enter liquidation after investors pulled out of a capital increase citing the coronavirus pandemic’s impact on sales.

Eleven new silks, as Canadian former judge joins South Square

Eleven new silks, as Canadian former judge joins South Square

24 March 2020

Eleven UK barristers with insolvency and restructuring practices are among 114 who were appointed Queen’s Counsel at a ceremony in London last week, as South Square chambers announced that former Ontario Superior Court Justice Frank Newbould QC had joined it as an associate member.