Insolvency

RHTLaw advising as Hiap Seng Engineering files for JM in Singapore

Singapore-listed oil and gas services company Hiap Seng Engineering and one of its subsidiaries have filed separate applications for judicial management in the city-state, with RHTLaw advising.

29 July 2020

European digital technologies group seeks recognition in New York

The CEO of Paris-registered digital technologies specialist Ymagis has applied for recognition of its French insolvency proceedings in New York, just months after it agreed a €52 million restructuring.

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

Community roundup: new recruits at Gordon Brothers, EY and Kirkland & Ellis

Gordon Brothers and EY have hired in Australia, Kirkland & Ellis and Thornton Grout Finnigan have recruited in Hong Kong and Toronto, and Quantuma and Freeths continue to expand in the UK.

20 July 2020

High court lets Lehman make shareholder distributions in “exceptional case”

The administrators of Lehman Brothers International (Europe) will consent to a directors’ request to distribute £29 million to its sole shareholder, after the High Court in London gave them the green light.

15 July 2020

Alvarez & Marsal hires ex-Lehman Brothers Asia liquidator in Hong Kong

Edward Middleton, a former managing director and co-head of financial restructuring in Asia at investment bank Houlihan Lokey, has joined Alvarez & Marsal in Hong Kong.

15 July 2020

Boies Schiller adds bankruptcy partners in New York and London

Boies Schiller Flexner has bolstered its bankruptcy group with the former head of Lehman Brothers Holdings’ derivatives bankruptcy strategy in New York, and an ex-Brown Rudnick partner in London.

14 July 2020

Hong Kong court blocks use of Singapore Mareva order as evidence

The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.

13 July 2020

KPMG advising as Romania’s Blue Air wins protection from creditors

Romania’s largest airline Blue Air has entered pre-insolvency proceedings in Bucharest after funds promised by the government did not arrive in time.

13 July 2020

English court issues landmark Lehman sub-debt ruling

The High Court of Justice in London has ruled on the distribution of over US$10 billion in subordinated liabilities of two UK Lehman Brothers entities, reaching different conclusions on their priority rankings.

10 July 2020

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