News

No confidentiality issues between Rajah & Tann and Lim family, court says

The High Court of Singapore has explained its refusal to join the owners of oil trader Hin Leong and shipping company Ocean Tankers to injunction proceedings against the companies’ counsel Rajah & Tann.

21 June 2021

“Total shave” for Videocon creditors as Mumbai court approves CIRP plan

Operational creditors of the Indian conglomerate Videocon have not had a haircut so much as a “total shave”, the NCLT in Mumbai has found, as it told the group to increase pay-outs to MSMEs but nevertheless approved a resolution plan that will see Vendata group entity Twin Star Technologies become Videocon’s new owner for next to “nothing”.

21 June 2021

Heads-Up: Richard Fleming and Mark Firmin at Alvarez & Marsal in London

“The international work is polarising into a small number of players, none of which include the Big Four.” Alvarez & Marsal’s European leader Richard Fleming and UK head Mark Firmin discuss the firm’s expansion amid reform at the Big Four; as well as covid, Brexit, why landlords have had their heads in the sand for too long, and the rise of the UK restructuring plan.

18 June 2021

“One in a million”: Judge Cornelius Blackshear 1939-2021

Former Southern District of New York bankruptcy judge Cornelius Blackshear, who oversaw the Chapter 11 case of US airline Pan Am and was the first African American to be appointed as a US Trustee, has died at the age of 81.

18 June 2021

UK liquidator fights costs application by Curaçao bank director

The ex-CEO of a defunct Curaçao bank is seeking an English costs order against a UK liquidator, who allegedly drove a failed examination request by the Official Receiver to investigate fraud claims.

18 June 2021

AZB & Partners expands in Mumbai

India’s AZB & Partners has hired a new partner in Mumbai, who joins the firm after almost nine years at L&L Partners.

17 June 2021

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

Willkie Farr & Gallagher hires in Chicago

Willkie Farr & Gallagher has bolstered its restructuring practice in Chicago with a partner from DLA Piper.

17 June 2021

Luckin Coffee completes restructuring milestone with capital reduction

Chinese coffeehouse chain Luckin Coffee says it has reached a financial milestone in its restructuring agreement with senior noteholders, after securing regulatory approval to transfer certain funds out of China.

16 June 2021

NMC Healthcare’s Abu Dhabi administrators secure English recognition

The Abu Dhabi General Market administrators of NMC Healthcare have secured recognition in England, with a London court finding the group’s insolvency proceedings constituted foreign main proceedings.

16 June 2021

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