Liquidation

Alvarez & Marsal makes first senior hires in Singapore

Alvarez & Marsal has expanded in Asia with its first two senior appointments in Singapore, from FTI Consulting and HSBC subsidiary Serai.

28 October 2020

ECB wins appeal over Banco Espírito disclosure

The European Central Bank gave sufficient reasons as to why it refused to disclose information on its suspension of credit flows to Portuguese “bad bank” Banco Espírito Santo ahead of the bank's resolution six years ago, the EU’s highest court has said, partially overturning a lower court’s ruling.

26 October 2020

Universality and comity: the Royal Court of Jersey and Lydian International

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

Gibraltar court throws out St Vincent conspiracy claim

A Gibraltarian businessman who accuses his former lawyer of liquidating his company in the Caribbean to frustrate breach of legal privilege proceedings against her, will not have his claims heard locally, after a court found it lacked jurisdiction to hear his conspiracy tort.

20 October 2020

AHAB and Saad settle multi-billion-dollar fraud claims

Saudi conglomerates Ahmad Hamad Al-Gosaibi & Brothers and Saad Group have settled billions of dollars’ worth of fraud claims against each other, following a decade-long dispute in the Cayman Islands.

13 October 2020

“Open for business”: BVI court approves third party litigation funding

In the first written judgment of its kind, a British Virgin Islands court has approved third party funding agreements for litigation and other liquidation fees and expenses in relation to a multinational Ponzi scheme.

01 October 2020

New York court receives recognition requests for two Bermudian proceedings

The provisional liquidators of a Bermuda-incorporated investment holding company and the liquidators of a Bermudian water company are seeking Chapter 15 recognition of their appointments, in separate proceedings filed in New York in September.

01 October 2020

Abu Dhabi court appoints Alvarez & Marsal as NMC Healthcare’s administrators

NMC Health’s UAE entities have been placed into administration in Abu Dhabi’s financial free zone, after successfully applying for protection against enforcement of debt claims this weekend.

28 September 2020

Should Jersey have a corporate rescue regime?

Partner Stephen Alexander and associate Max Galt at Mourant in Jersey set out why a traditionally creditor-friendly offshore jurisdiction like Jersey, with its commercially minded and flexible Royal Court, would still benefit from introducing a statutory reorganisation process.

24 September 2020

Radcliffe adds new silk in London

London-based Radcliffe Chambers has reinforced its litigation and appellate practice with the arrival of barrister David Mohyuddin QC.

17 September 2020

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