Fraud investigations

NautaDutilh partner charged over alleged money laundering at bankrupt retailer

Belgian prosecutors have charged NautaDutilh partner Elke Janssens in connection with a money laundering investigation into bankrupt fashion chain FNG, which collapsed following allegations of market manipulation.

22 September 2020

Hong Kong appeal court rejects US letters of request on “fishing” grounds

A private equity firm has failed to compel testimony from two distressed investors in Hong Kong over an aborted restructuring, after Hong Kong’s Court of Appeal said its effort - backed by US letters of request - amounted to a fishing exercise.

18 September 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 2020

Cayman court curtails freezing order against China’s answer to Starbucks

A Cayman court has declined to extend a worldwide freezing order against China’s Luckin Coffee chain, which entered provisional liquidation in July after confirming it misstated its 2019 accounts.

13 August 2020

UK appeal court okays liquidation scheme for property tax mitigation

The UK government cannot wind-up a pair of companies that use members voluntary liquidation schemes to avoid tax on abuse of insolvency law grounds, an English appeal court has affirmed.

10 August 2020

Pillsbury bolsters insolvency and restructuring practice in New York

US firm Pillsbury Winthrop Shaw Pittman has bolstered its insolvency and restructuring practice, hiring two veteran partners in New York.

06 August 2020

Brazilian court approves Odebrecht’s results-based reorganisation plan

A Brazilian court has approved a restructuring plan for non-operating companies in Brazil’s Odebrecht group, which will see it pay creditors with the proceeds of asset sales and new, profit-sharing securities.

29 July 2020

Hyflux banks prepare judicial management application

An unsecured group of Hyflux’s bank lenders are preparing an application to place it under judicial management, while the embattled Singaporean company has also received new proposals from US and UAE investors.

28 July 2020

English court refuses to dismiss Mallya bankruptcy petition

An English court has refused to dismiss a bankruptcy petition against one-time billionaire Vijay Mallya, finding his creditors did not have to disclose purported third-party security relating to an Indian judgment.

23 July 2020

Duff & Phelps hires new restructuring head for the Middle East & Africa

Advisory firm Duff & Phelps has hired the former head of KPMG Middle East’s deal advisory group to lead its global restructuring practice in the Middle East and Africa.

21 July 2020

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