Liquidation

Hong Kong court addresses “difficulties” posed by offshore company structures

A Hong Kong court has adjourned a winding-up petition against a Cayman-incorporated juice company hoping to restructure in the Chinese mainland, as the petitioner failed to show it could realise the value of the company’s listing in Hong Kong.

19 November 2020

Hong Kong miner’s winding-up hearing adjourned amid share dispute

A Hong Kong court has adjourned a winding-up petition against an international mining company for a second time, raising concerns over shareholders’ attempts to convert an equity contribution into a debt claim.

17 November 2020

BVI court adjourns liquidator appointment over foreign revenue debts

A British Virgin Islands court has adjourned its decision on whether to appoint liquidators over a BVI company that is being wound up in England, citing several “uncertainties” that need to be ironed out.

16 November 2020

Ukrainian bank’s liquidator seeks recognition in US and UK

The liquidator of a Ukrainian bank facing over US$1 billion in creditor claims has filed for recognition in the US and UK.

12 November 2020

Chinese arbitration clause fails to save Pacific Andes affiliate from winding-up

A Hong Kong affiliate of the industrial fishing group Pacific Andes cannot rely on a Chinese arbitration clause to protect itself from winding-up proceedings because the clause was irrelevant to its debt, a court has found.

10 November 2020

Quantuma continues hiring spree with London addition

Quantuma has added a former director of fellow UK advisory firm MHA MacIntyre Hudson to its London office, marking its fourth restructuring hire in the space of a month.

10 November 2020

Guernsey liquidators secure court’s “blessing” for Georgian oil group sale

A Guernsey court has approved the sale of an insolvent Georgian oil group, dismissing accusations that its liquidators sought to shed responsibility for a deal that did not benefit creditors.

09 November 2020

Proskauer Rose dodges Antiguan Ponzi claim

Antiguan liquidators have been prevented from serving a claim on Proskauer Rose in the US, after a Caribbean appeal court said allegations the firm failed to stop the Stanford International Bank Ponzi scheme, could not be tried locally.

03 November 2020

Privy Council winds-up BVI company on deadlock grounds

The UK Privy Council has wound-up a BVI holding company due to a “functional deadlock” in its management, finding the order could be made regardless of whether the company constituted a quasi-partnership.

02 November 2020

Deloitte appointed liquidators of Wirecard’s Irish arm, US business sold

Joint provisional liquidators have been appointed over the Irish arm of scandal-hit German payments processor Wirecard, while a US holding company backed by Centerbridge and Bain Capital has bought its North American business.

29 October 2020

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