News

Bermuda court extends injunction to prevent risk of Gupta asset claim dissipation

A Bermudian court has extended a Mareva injunction against a locally-registered commodities trader, finding there was a risk of dissipation of its only realisable asset – a claim in the South African restructuring of a coal mine formerly owned by the Gupta family.

27 July 2020

Roland Berger makes three hires in DACH region

Munich-headquartered management consultancy Roland Berger has hired a new principal and two new partners as it seeks to handle the challenges facing companies dealing with covid-19.

27 July 2020

African Minerals scheme sanctioned in London

The High Court of Justice in London has sanctioned a scheme for mining company African Minerals, despite only four unsecured creditors voting at the scheme meeting last week.

27 July 2020

Paper company seeks Hong Kong recognition of Bermudian light-touch JPLs

A Bermudian court has appointed light-touch provisional liquidators over a locally incorporated paper company and asked a Hong Kong court for assistance, amid a potential investigation into auditing issues at the company.

27 July 2020

Interior design company obtains roll-up super-priority financing in Singapore

Struggling interior design company Design Studio Group has been granted super-priority rescue financing in Singapore, including over pre-petition debts that were incurred before the group filed for insolvency.

24 July 2020

Puerto Rico racketeering claims temporarily withdrawn

A former Paul Hastings bankruptcy lawyer that accused his old firm and other prominent parties of racketeering in Puerto Rico has withdrawn his complaint – but says he plans to re-file it.

24 July 2020

Singapore omnibus legislation set to come into force

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

Australian court allows trustee of disqualified tax agent to seek UK recognition

An Australian court has allowed the bankruptcy trustee of a disqualified tax agent to seek recognition of his appointment in the UK, pursuant to the UNCITRAL Model Law on Cross-Border Insolvency.

24 July 2020

ASEAN property groups plan schemes in Singapore and Malaysia

Cayman-incorporated Capital World has launched a proposed pre-packed, fast-track scheme of arrangement in Singapore, while subsidiaries of Singapore’s Hatten Land have obtained moratoria in Malaysia ahead of launching two local schemes.

24 July 2020

SGX listing is “substantial connection” for Indonesian group's Singapore moratorium

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

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