News

Charles Russell Speechlys partner joins Gowling WLG in London

Gowling WLG has added a new partner specialising in insolvency-related multi-jurisdictional fraud cases to its commercial litigation team, from Charles Russell Speechlys’ London office.

05 January 2023

Two insolvency-specialist barristers take silk

Two barristers with a specialism in insolvency have made it onto the King's Counsel appointments list following the 2022 competition.

05 January 2023

Singapore court grants prospective priority to creditor funding liquidator’s investigations

In what appears to be the first reported decision concerning section 204 of Singapore’s Insolvency, Restructuring and Dissolution Act, the Singapore High Court has ruled that courts have the power to confer an advantage on creditors who provide liquidators with funding and an indemnity to cover their investigations and asset recovery work.

05 January 2023

Winston & Strawn hires Addleshaw partner in London

Former Addleshaw Goddard partner Paul Fleming has joined Winston & Strawn to lead its restructuring and insolvency practice in London, telling GRR the firm has plans to grow its coverage across North and South America, Asia and Europe.

04 January 2023

Crypto miner Core Scientific authorised to reject contracts with Celsius

Texas-headquartered crypto miner Core Scientific has been allowed to reject executory contracts with bankrupt trading platform Celsius that are the subject of a dispute in a New York bankruptcy court, after a Texas judge reasoned that rejecting a contract does not violate the Chapter 11 automatic stay.

04 January 2023

3AC liquidators can subpoena co-founder through Twitter

The foreign representatives of crypto fund Three Arrows Capital have secured permission to subpoena one of its co-founders via Twitter, after allegedly failing in repeated attempts to establish his whereabouts and obtain company information.

04 January 2023

FTX and Bahamas securities regulator spar over crypto asset seizures

The Bahamas securities regulator and the team overseeing bankrupt cryptocurrency platform FTX’s Chapter 11 proceedings are fighting over a US$3.5 billion valuation of digital assets seized after the group entered provisional liquidation – the latest wrangle in a fraught relationship between the proceedings in the two jurisdictions.

03 January 2023

Hong Kong court releases HKA scheme judgment

A court in Hong Kong has released its reasons for sanctioning Hong Kong Airlines’ scheme, saying the company’s dual UK-Hong Kong restructuring should be effective in foreign jurisdictions despite a “remote risk” of enforcement action by mainland Chinese creditors.

03 January 2023

Appeal granted after Lehman interest rate swap ruling

Two aerospace manufactures have won permission to appeal an English court ruling that found they must honour interest rate swap transactions when Lehman Brothers’ main European arm exists administration.

03 January 2023

UK Supreme Court seals Candey fee priority dispute in Peak Hotels liquidation

London disputes boutique Candey has lost a years-long fight to recoup around £4 million in legal fees in priority to other creditors of an insolvent hotelier, after the UK Supreme Court found it waived an equitable lien when it entered into a new fee arrangement with the company pre-liquidation.

22 December 2022

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