Liquidation

“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

Singapore court appoints RSM Advisory as energy services group enters JM

A Singaporean court has placed oil and gas services provider Hiap Seng Engineering and its subsidiary HS Compression & Process in judicial management, confirming the appointments of two RSM Advisory partners.

16 September 2020

Members should decide on liquidated group’s restoration, English appeal court rules

In the first reported case of minority shareholders restoring a company to investigate an earlier members’ voluntary liquidation, an English appeal court has found that the members of a group of venture capital trusts must collectively decide whether its restoration should stand.

15 September 2020

Nortel’s Polish arm to end decade-long administration

The joint administrators of Nortel Networks Polska have secured termination and discharge orders from the High Court in London to bring an end to its 11-year administration in England.

26 August 2020

Mumbai tribunal appoints IP over Reliance chair Ambani’s assets

A tribunal in Mumbai has appointed an insolvency professional to manage the assets of Anil Ambani, chair of the Reliance telecoms group, after hearing arguments that Chinese banks who sued him in the UK could attach his assets before Indian creditors.

24 August 2020

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