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German real estate group Adler has reached an agreement with its bondholders to extend maturities on notes that were due in July next year and secure almost €1 billion of new financing, after it was rocked by fraud allegations last year.
30 November 2022
Bankrupt cryptocurrency brokerage Voyager Digital has reopened the Chapter 11 bidding process for its assets, having confirmed hours after FTX entered bankruptcy last week that their US$1.4 billion court-sanctioned deal had collapsed.
16 November 2022
Scandal-hit French care home operator Orpea has opened negotiations with creditors to restructure its multi-billion dollar debt pile after allegations of accounting fraud and mistreatment of residents surfaced earlier this year.
31 October 2022
The former owner of insolvent Russian bank Vneshprombank, who has been fighting recognition of a Russian bankruptcy order against him in the UK, has failed to convince an English court that documents material to the order were forged.
28 October 2022
The joint liquidators of three British Virgin Island funds believed to have links to scandal-hit Malaysian sovereign wealth fund 1Malaysia Development Berhad have secured recognition of their appointments in Singapore.
20 October 2022
Russian banker Georgy Bedzhamov has asked an English court to refuse recognition of his Russian bankruptcy, claiming in cross-examination this week that a loan guarantee on which the bankruptcy rests was forged.
07 October 2022
Abu Dhabi Commercial Bank has secured a worldwide freezing order against the former CEO of Middle Eastern healthcare group NMC, who it accuses of being part of a major fraud that led to the group’s collapse.
05 October 2022
Lenders who financed the operations of an Indian jeweller at the centre of a multi-billion-dollar fraud investigation will not be able to make claims in its US liquidation based on credit facilities they extended to non-debtor affiliates, after a court found the facilities were transfers that were disallowable under US bankruptcy law.
14 September 2022
Less than a week after Malaysia’s former Prime Minister Najib Razak was ordered to begin a 12-year prison sentence for fraud linked to the 1MDB sovereign wealth fund, the liquidators of nine more offshore investment vehicles believed to be linked to the fraud have filed for recognition in Miami.
01 September 2022
A cryptocurrency investment company and its 23-year-old founder have been declared bankrupt by a Canadian court, a month after it froze all his assets finding he had been trying to liquidate and move them.
26 August 2022
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