Liquidation

Cayman court winds up Chinese menswear retailer after misconduct claims

Chinese menswear retailer Evergreen International has been wound up in the Cayman Islands after a court found it had failed to offer “even the outline of a restructuring proposal” despite hiring advisers in April last year.

17 January 2022

Mainland court recognises Hong Kong liquidators for first time

The liquidators of a Hong Kong-incorporated paper company have secured the historic recognition of their appointments in mainland China following a first-of-its kind ruling by the Shenzhen Intermediate People’s Court.

14 January 2022

Isle of Man liquidator seeks Chapter 15 recognition in US first

In what is thought to be the first application for recognition of an Isle of Man voluntary liquidation in the US, an Africa-focused private jet operator's liquidator has filed a Chapter 15 in Oklahoma to stall a local litigation and try to access escrow funds.

14 January 2022

FRP boosts London restructuring team

FRP Advisory has expanded its restructuring team in London with a partner hire from the UK’s financial regulator and a new director who worked on the Thomas Cook and HMV insolvencies.

13 January 2022

Promotions round-up: new year, new partners

Jones Day, Norton Rose Fulbright, Hughes Hubbard & Reed and Harneys have made partner promotions around the world, while Davis Polk & Wardwell has named a new counsel and Cole Schotz has announced new members in North America.

11 January 2022

FTI Consulting hires from Protiviti in US, loses one in Cayman

FTI Consulting has hired a team of restructuring professionals from global consulting firm Protiviti, but lost another to Crowe Cayman.

07 January 2022

Offshore marine operator Ezion Holdings to wind down

Singapore-listed offshore marine operator Ezion Holdings says it plans to enter liquidation after an investment from a Malaysian energy infrastructure company fell through and it failed to complete a US$1.6 billion restructuring.

07 January 2022

Teneo buys KPMG’s Cayman and BVI restructuring arms

Global advisory firm Teneo, which last year bought Deloitte’s UK restructuring business, has acquired the Cayman and British Virgin Islands restructuring arms of KPMG.

06 January 2022

AHAB loses “complex and arduous” Cayman fraud appeal

Saudi conglomerate Ahmad Hamad Algosaibi & Brothers has lost its appeal against a Cayman Islands court ruling that found it conspired with its former head of investment to “perpetrate one of the largest Ponzi schemes in history” – bringing an end to over 12 years of litigation.

22 December 2021

Nordic Aviation files Chapter 11 after completing Irish scheme

After completing an Irish scheme of arrangement last year, aircraft leasing company Nordic Aviation Capital (NAC) has filed a pre-arranged Chapter 11 in the US that will see its largest creditors take it over.

21 December 2021

Get unlimited access to all Global Restructuring Review content