Liquidation

Howse Williams hires Addleshaw partner in Hong Kong

Howse Williams has hired a litigation partner from Addleshaw Goddard with credits on the restructurings of China’s Peking University and Chinese semiconductor maker Tsinghua Unigroup, as the international firm closes shop in Hong Kong.

15 August 2022

NewOcean wound up in Hong Kong as Bermuda liquidation appealed

Asian oil and gas group NewOcean Energy has been wound up in Hong Kong, two weeks after creditor bank HSBC won an appeal to have it placed into liquidation in Bermuda.

12 August 2022

Liquidators of Jersey vehicle owned by  ex-Russian senator seek recognition in California

The joint liquidators of a Jersey-incorporated investment holding vehicle owned by an ex-Russian senator turned US citizen have sought recognition in California, where it is embroiled in local litigation with the vehicle’s former director.

12 August 2022

Cayman-registered liquor group wound up in Hong Kong following Global Brands decision

A Chinese alcoholic drinks distributor has been wound up in Hong Kong, after its Cayman liquidators accepted its liquidation should take place in its centre of main interests in line with Mr Justice Harris’ much-talked about decision in Global Brands Holding.

10 August 2022

Harneys helps wind up Hong Kong frozen food distributor in Cayman

Offshore firm Harneys has helped a Chinese creditor wind up a Hong Kong-listed frozen foods distributor in the Cayman Islands, after it defaulted on a series of agreements.

08 August 2022

Chinese energy group wound up in Bermuda

Hong Kong-listed gas group NewOcean Energy has been wound up in Bermuda, less than a year after it appointed soft touch provisional liquidators to help restructure its debts following the collapse of Singaporean oil trader Hin Leong.

05 August 2022

Canadian tech group enters Ch11, Australian subsidiary in liquidation

Canada-listed software logistics business GetSwift Technologies has sought Chapter 11 protection in New York, days after its Australian subsidiary entered liquidation after being found liable last year for making misleading statements to the Australian Securities Exchange about customer agreements with the likes of Amazon.

03 August 2022

Singaporean crypto platform Zipmex taps Morgan Lewis Stamford for moratoria

Digital assets group Zipmex has filed moratorium applications in Singapore for five of its international entities a week after it paused customer withdrawals, saying they would give it “the breathing space and time it requires” to restructure its debts.

01 August 2022

KPMG fined for misleading UK audit regulator

Big Four firm KPMG has been fined £14.4 million for providing false and misleading documents and information during inspections of the firm’s audits of collapsed public contractor Carillion and data management company Regenersis.

26 July 2022

English court provides guidance on treatment of e-money asset pool creditors

In a clarificatory ruling for insolvency practitioners appointed over electronic money institutions, an English court has ruled that the “costs of distributing the asset pool” under UK regulations includes costs associated with reconstituting, administering and distributing the asset pool, as well as officeholders’ expenses undertaking that work.

21 July 2022

Get unlimited access to all Global Restructuring Review content