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An administrator from German law firm GÖRG will oversee the insolvencies of more than 100 entities in a group that invited pensioners from the UK, Ireland and Asia to finance the conversion of historic buildings.
03 August 2020
Local practitioners have welcomed Singapore’s “elegant and comprehensive” new Insolvency, Restructuring and Dissolution Act and its 48 pieces of subsidiary legislation, which are set to come into force on 30 July.
24 July 2020
A foreign company with securities listed on the Singapore Stock Exchange has a “substantial connection” to Singapore and can apply for a moratorium extension under the new Companies Act, a court has ruled for the first time.
23 July 2020
A Canadian oilfield services provider that operates in Russia and Argentina has secured an emergency Chapter 15 injunction in Texas, as well as a stay on creditor proceedings in Alberta.
15 July 2020
The UK has a new Insolvency Practice Direction and an amended Insolvency Proceedings Practice Direction, updated to reflect the new Corporate Insolvency and Governance Act.
07 July 2020
Global oil and gas engineering powerhouse McDermott International has emerged from bankruptcy after the sale of its technology licensing subsidiary allowed it to pay off a US$2.81 billion debtor-in-possession finance package.
06 July 2020
The Corporate Insolvency and Governance Bill has received Royal Assent and is now law, after the UK parliament approved a slew of changes tabled by its upper house this week.
26 June 2020
The Democratic Republic of Congo’s largest bank has obtained a US$60 million summary judgment against struggling foreign exchange company Travelex in England, following a breach of contract over a supply of bank notes.
25 June 2020
An end to super-priority for financial creditors’ accelerated debts, new powers for the Pension Protection Fund, and more time for the government to regulate pre-packs: the Corporate Insolvency and Governance Bill has had the scrutiny of the UK parliament’s upper house, but as before, only the government’s tabled amendments were accepted.
24 June 2020
A Singapore court has extended Cayman oil company KrisEnergy’s worldwide restructuring moratorium until late August, just a week after a Cayman court allowed a creditor to commence a local winding-up petition against its subsidiary.
23 June 2020
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