News

Hong Kong judge applies Peking Founder findings in new keepwell deed dispute

Hong Kong’s Mr Justice Harris has applied his “momentous” findings in Peking Founder’s keepwell deed dispute to a new claim against Chinese semiconductor maker Tsinghua Unigroup, ruling again that deed disputes should be adjudicated in Hong Kong after confirming with a local expert that resulting judgments can be placed as evidence before a mainland court.

27 May 2022

Australian court fires out first judgment under new anti-phoenixing law

A court in Australia has made the first ruling invoking anti-phoenixing laws introduced two years ago, in a case where a translation company’s assets were sold to an entity controlled by its sole director’s sister, minutes before a resolution to wind it up.

27 May 2022

Holland & Knight advises as BVI fund targets Delaware borrower

The liquidators of a British Virgin Islands fund have lodged a breach of contract claim against Delaware-registered borrower Tremont International in New York, where they secured Chapter 15 recognition in 2019.

27 May 2022

Interview: Volker Beissenhirtz, treasurer of new German insolvency association

German restructuring professionals and court personnel have formed a new association aimed at improving the country’s restructuring and insolvency laws and court processes. Its new treasurer Volker Beissenhirtz tells GRR how the group plans to achieve its goals.

26 May 2022

Hong Kong investor seeks winding up of Cayman-registered debt trader

An investor in a Hong Kong fund is seeking to wind up two of its portfolios in the Cayman Islands, after it failed to redeem almost US$4 million of shares.

26 May 2022

Century old car repair business declared bankrupt after WHOA failure

A Dutch auto repair company has fallen into bankruptcy after its WHOA process failed and its restructuring expert withdrew.

26 May 2022

French-Bermudian JV's creditors agree to Chinese restructuring

Creditors of a joint venture between Bermuda-registered car manufacture Brilliance Auto and France’s Renault have approved the formation of a committee to oversee a restructuring in China.

25 May 2022

Danish pharma company seeks $13 million asset sale amid US class action

A Copenhagen-based biopharmaceutical company is set to sell its assets to US pharma group KemPharm as part of a restructuring announced last week, after failing to secure European approval to market a new drug.

25 May 2022

PLMJ hires from Linklaters in Portugal

PLMJ has hired a senior counsel with restructuring and insolvency experience for its dispute resolution practice in Lisbon, from the local arm of Linklaters.

25 May 2022

Galapagos faces UK winding up following EU Insolvency Regulation judgment

Senior creditors of the Galapagos group have applied to wind it up in the UK despite ongoing insolvency proceedings in Germany, citing a European Court of Justice decision from March that interpreted the European Insolvency Regulation against the backdrop of two potential COMI shifts and Brexit.

24 May 2022

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