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Indian counsel working for Jeff Bezos’ Amazon have failed to stop the Bank of India placing local conglomerate Future Retail into a corporate insolvency resolution process, with the National Company Law Tribunal’s Mumbai Bench dismissing “baseless” allegations of fraud against the debtor and its creditors.
25 July 2022
A Florida district court has been urged to reject a US receiver’s distribution plan for investors in a collapsed Cayman feeder fund, in a case of “critical importance” for the international investor and cross-border insolvency communities.
11 July 2022
A former investment manager for struggling crypto lender Celsius Network has accused it of leveraging customer deposits to manipulate markets and failing to institute basic accounting controls, causing it to freeze customer assets last month.
08 July 2022
Former 3 Hare Court silk Aidan Casey QC has joined South Square in London, telling GRR we are “long overdue a major insolvency or two”.
27 June 2022
The joint liquidators of a bankrupt Cayman feeder fund opposing a US federal receiver’s distribution plan say the case presents serious considerations of international comity that have never been tried before.
15 June 2022
The bankruptcy trustee of a Texan oilfield services provider has lodged an action against Alvarez & Marsal to recover over US$5 million of allegedly fraudulent and preferential transfers – two days after it filed similar complaints against Baker Botts, Paul Weiss and Nielsen IP Law.
24 May 2022
Alvarez & Marsal’s Tiffany Wong and Alex Lawson tell GRR about the challenges they faced as Chinese coffee chain Luckin Coffee’s joint provisional liquidators, how they got the complex restructuring over the line and why ESG considerations are not yet having a huge influence in the restructuring space.
19 May 2022
The joint liquidators of three 1MDB-linked British Virgin Islands funds have secured recognition of their appointments in Miami, pledging to obtain discovery in the US to help with their recovery efforts.
18 May 2022
The administrators of NMC Healthcare’s UK-based holding company have launched formal legal proceedings against EY for audit negligence, saying the action is part of their obligation to maximise returns for creditors.
03 May 2022
A Cayman court has issued its reasons for permitting the 1MDB-linked beneficial owner of shares in a local investment vehicle, to convert the vehicle's voluntary liquidation into a court-supervised winding up, where proceedings to vindicate share rights can normally only be brought by a registered shareholder under Cayman law.
03 May 2022
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