News

A court in Abu Dhabi’s financial freezone has ordered two UAE pharmaceutical companies and EY’s Middle East arm to turn over documents to the administrators of three NMC entities who are investigating the “extensive fraud and substantial financial irregularities” that caused the NMC group’s collapse.

08 December 2023

A Manchester-based insolvency partner from UK regional firm Clarke Willmott has joined Fieldfisher, telling GRR he wants to grow and develop his insolvency litigation practice in the north of England.

08 December 2023

Dechert has been brought in to advise Cayman Islands-incorporated, Hong Kong-listed medical equipment supplier Yestar Healthcare in its second restructuring in two years, with Hogan Lovells returning for noteholders.

07 December 2023

There is no statutory requirement for directors to provide a third-party indemnity as a pre-condition for bringing proceedings against a receiver, but it should be provided where charged assets are at risk, the Privy Council has ruled.

07 December 2023

The Brazilian judicial administrator of a São Paulo-based data processing company accused of running a crypto pyramid scheme has applied for Chapter 15 recognition in Miami in an effort to help it examine witnesses and track down assets.

06 December 2023

Singaporean healthcare and energy holding company New Silkroutes has obtained sanction of a pre-packaged scheme in Singapore through which its largest unsecured creditor, a Canadian real estate investment group, is set to take a majority stake in the company.

06 December 2023

Willkie Farr & Gallagher has hired a former global vice-chair of Latham & Watkins’ restructuring and special situations practice, who its London team recently worked with on the restructuring plan for British care home group Lifeways.

05 December 2023

The StaRUG process can be used to take public companies private in the context of impending insolvency and where there is no alternative investor, a German court has found, as it confirmed a plan for IT consultancy Softline that will wipe out all but one of its shareholders and preserve creditors’ rights.

05 December 2023

In a highly anticipated hearing in the US Supreme Court, lawyers for scandal-hit drugmaker Purdue Pharma have argued that the company’s bankruptcy plan will unravel and “lives will literally be lost” if its former owners are not granted releases shielding them from future opioid-related litigation.

04 December 2023

Embattled property giant Evergrande has successfully obtained a fifth adjournment to a winding up petition lodged against it in Hong Kong, as it reportedly tries to strike a fresh deal with creditors to avoid a formal liquidation.

04 December 2023