News
Weil partner moves to Shearman & Sterling in London
Shearman & Sterling has hired Weil Gotshal & Manges partner Alex Wood in London, as firms around the globe continue to prepare for a coronavirus-induced wave of restructurings.
17 July 2020
Bermudian court terminates UK recognition order over litigation probe rules
A Bermudian court has discharged the recognition of a UK-appointed liquidator, affirming rules on gathering information for foreign lawsuits laid out by the Privy Council in its 2014 Singularis decision.
17 July 2020
Lecta completes another recapitalisation as covid-19 bites
Global paper manufacturer Lecta has completed another recapitalisation with Linklaters and Willkie Farr advising, six months after the High Court in London sanctioned a scheme of arrangement that saw it transfer most of its equity to noteholders.
17 July 2020
Singapore court recognises energy company's Hong Kong liquidation
A Singapore court has recognised the Hong Kong liquidation of energy company Shanghai Huaxin Group under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.
17 July 2020
NZ High Court restrains Chinese director’s bankruptcy pending directors’ duties appeal
The High Court of New Zealand has halted a bankruptcy application against a Chinese former director of local construction company Mainzeal, pending his appeal of a multi-million dollar breach of duties judgment.
17 July 2020
Reflective loss rules only apply to shareholders, UK Supreme Court rules in Marex case
The UK Supreme Court has found the reflective loss doctrine only applies to some shareholders, overturning a lower court’s decision to bar an asset-stripping claim brought by UK foreign exchange broker Marex.
16 July 2020
ADGM enhances insolvency law with priority financing for administrators
Officials in Abu Dhabi’s financial free zone have enacted amendments to the insolvency framework for its English-language courts, including the addition of new priority financing measures.
16 July 2020
UK govt argues appeal that insolvency law was misused for tax mitigation
The English Court of Appeal has heard the UK government’s second attempt at winding-up a pair of real estate management companies, which used liquidation processes to help landlords avoid property taxes.
16 July 2020
First restructuring plan launched in UK, A&O and Houlihan lead for Virgin
Updated: Allen & Overy and Houlihan Lokey are leading Virgin Atlantic through the first-ever restructuring plan launched under the UK’s new Corporate Insolvency and Governance Act.
15 July 2020
High court lets Lehman make shareholder distributions in “exceptional case”
The administrators of Lehman Brothers International (Europe) will consent to a directors’ request to distribute £29 million to its sole shareholder, after the High Court in London gave them the green light.
15 July 2020
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