Liquidation

DLA Piper recruits partner in Melbourne

DLA Piper has hired a new partner in its Melbourne restructuring practice, after losing its Australian head of restructuring to Dentons in March.

29 July 2020

BVI court favours Hong Kong arbitration over liquidators

A British Virgin Islands court has dismissed an investment fund’s attempts to appoint liquidators over local company Fair Cheerful, finding a dispute between the parties should be arbitrated in Hong Kong.

20 July 2020

Community roundup: new recruits at Gordon Brothers, EY and Kirkland & Ellis

Gordon Brothers and EY have hired in Australia, Kirkland & Ellis and Thornton Grout Finnigan have recruited in Hong Kong and Toronto, and Quantuma and Freeths continue to expand in the UK.

20 July 2020

Bermudian court terminates UK recognition order over litigation probe rules

A Bermudian court has discharged the recognition of a UK-appointed liquidator, affirming rules on gathering information for foreign lawsuits laid out by the Privy Council in its 2014 Singularis decision.

17 July 2020

Singapore court recognises energy company's Hong Kong liquidation

A Singapore court has recognised the Hong Kong liquidation of energy company Shanghai Huaxin Group under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.

17 July 2020

NZ High Court restrains Chinese director’s bankruptcy pending directors’ duties appeal

The High Court of New Zealand has halted a bankruptcy application against a Chinese former director of local construction company Mainzeal, pending his appeal of a multi-million dollar breach of duties judgment.

17 July 2020

Reflective loss rules only apply to shareholders, UK Supreme Court rules in Marex case

The UK Supreme Court has found the reflective loss doctrine only applies to some shareholders, overturning a lower court’s decision to bar an asset-stripping claim brought by UK foreign exchange broker Marex.

16 July 2020

UK govt argues appeal that insolvency law was misused for tax mitigation

The English Court of Appeal has heard the UK government’s second attempt at winding-up a pair of real estate management companies, which used liquidation processes to help landlords avoid property taxes.

16 July 2020

Hong Kong court blocks use of Singapore Mareva order as evidence

The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.

13 July 2020

English court issues landmark Lehman sub-debt ruling

The High Court of Justice in London has ruled on the distribution of over US$10 billion in subordinated liabilities of two UK Lehman Brothers entities, reaching different conclusions on their priority rankings.

10 July 2020

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