Liquidation

Creditor meetings bypassed for Cayman health company’s Hong Kong liquidation

A Hong Kong court has appointed liquidators over a Cayman healthcare company accused of fraud, after dispensing with creditor meetings and rejecting opposition from contributories.

09 April 2021

New Zealand’s insolvent trading laws under fire in Mainzeal appeal decision

Directors of New Zealand construction company Mainzeal, including a former prime minister, have failed to escape liability for breaches of their duties before its collapse, despite an appeal court overturning a compensation award for reckless trading.

07 April 2021

Vehicle linked to collapsed German Property Group wound up in Ireland

An Irish vehicle created to invest in historic German real estate has been wound up by the High Court in Dublin, eight months after a property group it put money into collapsed in Germany amid “profoundly worrying allegations”.

23 March 2021

UAE’s Arabtec reveals details of its Dubai bankruptcy

Nearly four months after shareholders resolved it should enter insolvent liquidation, the Middle East's largest contractor has provided information on its bankruptcy proceedings in Dubai.

22 March 2021

Dissolved BVI companies restored after “catastrophic” mistake

Two BVI companies that were part of Tokyo-headquartered alternative investor Pacific Alliance Group and were erroneously liquidated and dissolved following a “massive breakdown” of communications will be restored to the islands’ company register.

19 March 2021

Begbies Traynor acquires David Rubin & Partners

UK corporate restructuring boutique Begbies Traynor has announced the purchase of London and Guernsey-based insolvency firm David Rubin & Partners – its “largest acquisition” to date.

15 March 2021

Hong Kong must depart from "English" approach to common law recognition

The “restricted” view that common law recognition favours proceedings in a debtor’s place of incorporation does not serve Hong Kong well, Mr Justice Harris has said in a decision adjourning the recognition of soft-touch provisional liquidators appointed in “questionable” circumstances in Bermuda.

11 March 2021

BVI liquidators secure novel Hong Kong ruling

The BVI liquidators of a company connected to an insolvent mainland Chinese university group have secured recognition in Hong Kong, allowing them to file potentially novel proceedings in the jurisdiction – while the demise of a pioneering cinema chain has sparked fears for Hong Kong’s real economy.

11 March 2021

Hin Leong wound up in Singapore after JMs fail to find buyer

Singapore oil trader Hin Leong is set to be wound up after its judicial managers failed to secure a sale of its assets, nearly a year after a financial scandal scuppered its restructuring moratorium.

10 March 2021

Cayman oil company wound-up after Canadian action withdrawn

An Australian litigation funder has obtained a Cayman winding-up order against a client that had its arbitral award sequestered in Albania, after withdrawing enforcement proceedings in Canada.

08 March 2021

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