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Directors of a Chinese property developer who opposed its winding up in Hong Kong on the basis of a vague restructuring proposal that never moved forward, may now face paying the costs of the petition after a highly critical court decision.
06 September 2022
Conyers Dill & Pearman partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative landscape for prudent directors – particularly in light of current macro-economic conditions and the difficulties many companies are facing.
26 July 2022
A British Virgin Islands court has confirmed that company directors who fail to ensure their duties are being carried out for a “proper purpose” may be liable for restitution, in a case brought by the local liquidators of a Dutch-Chinese joint venture vehicle.
09 February 2022
The PwC administrator of parts of a Gibraltarian protected cell company may apply to hold a private examination of one of its directors under the local regime for such entities, Gibraltar’s Supreme Court has confirmed.
06 January 2022
A former director of the defunct UK department store chain BHS has failed to strike out aspects of a major wrongful trading and misfeasance claim that the retailer’s liquidators are set to pursue against him and three ex-colleagues in 2023.
09 December 2021
Non-executive directors of collapsed construction company Carillion have told an English court that disqualification claims brought against them are “oppressive” and evidence submitted by the UK government is “ill-founded”.
30 November 2021
King & Spalding partner Mike Rainey in Dubai examines how recent reforms to the bankruptcy regimes in Saudi Arabia and the UAE are changing local markets – and identifies debt-for-equity swaps, non-performing loan transactions and the sale of healthy parts of a business in the context of restructuring as areas ripe for further development.
05 November 2021
In a “rare” case that warranted interference with the factual findings of lower courts, the UK Privy Council has ruled that a China-based director breached her fiduciary duties to a British Virgin Islands company when she failed to prevent the full repayment of a loan before it fell into liquidation.
23 February 2021
Three international banks have been stopped from altering their pleas against former directors of the long-collapsed Australian miner Arrium, ahead of a 10-week trial of three different proceedings brought against them by liquidators, lenders and investors.
17 December 2020
Shareholders of the Middle East's largest contractor, Arabtec, have announced it will file for liquidation “at the earliest opportunity”, despite a small group among them making a last-ditch restructuring proposal on Monday.
01 December 2020
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