Liquidation

Hong Kong fund directors face Cayman litigation

The liquidators of an Asia-focused mutual fund are suing its directors in the Cayman Islands, accusing them of offloading shares it held in a Hong Kong company against its interests.

23 July 2021

Australian report shows interdependency of Greensill administrations

Greensill’s Australian liquidators have said they can’t provide estimates on potential returns for its unsecured creditors, because they depend on future dividends in the UK and German administrations, among other factors.

22 July 2021

Hyflux enters liquidation

After more than three years of failed restructuring attempts, a Singaporean court has placed water treatment company Hyflux in liquidation – and made a costs order against one of its potential investors, which tried to halt its winding-up.

21 July 2021

Hotel operator JJW’s winding up appeal blocked in Guernsey

A European hotel and leisure group’s holding company has been denied a second chance at appealing its compulsory winding up in Guernsey, despite arguing that the French judgment debt at the heart of its winding up had been overturned.

16 July 2021

A&O advises on controlled Dutch scheme liquidation

The former holding company of international outdoor clothing group AS Adventure has been liquidated after securing a cooling-off period under Dutch scheme proceedings, which allowed it to formulate a liquidation plan while the rest of the group was sold through a share pledge enforcement.

15 July 2021

BVI liquidators obtain US recognition to investigate dissipated loan collateral

The British Virgin Islands liquidators of a vehicle that invested in a New York skyscraper have obtained Chapter 15 recognition to explore the disappearance of security for a loan provided by two Chinese banks.

15 July 2021

Mazars to oversee liquidation of 21 Arcadia Group companies

Partner Adam Harris and director Guy Hollander from Mazars have been appointed as liquidators of 21 companies in British retail tycoon Philip Green’s Arcadia Group, following a slew of voluntary winding up resolutions.

14 July 2021

Chinese miner loses winding up bid in Hong Kong

A Chinese subsidiary of Cayman-incorporated miner Newton Resources has lost an attempt to wind up a Hong Kong-based asset manager that it claims owes it US$5.5 million under a coal purchase agreement.

13 July 2021

Hong Kong property developer faces winding up in the Cayman Islands

An Australian company and its director have applied to wind up a Hong Kong-headquartered property developer and a related entity in the Cayman Islands, amid a dispute over which of two similarly-named group companies provided security on an unpaid US$2 million loan.

12 July 2021

Russian receiver accused of corruption in California recognition action

A bankrupt Russian businessman has opposed a Chapter 15 application filed by the liquidator of his estate in California, after accusing him of undertaking fraudulent acts to help former politician Ashot Yegiazaryan evade payment of an arbitral award.

08 July 2021

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