Provisional liquidation

Weil’s Adam Plainer to move to Dechert

Weil’s London practice co-head Adam Plainer is leaving to join Dechert as global co-chair of its financial restructuring group, with the firm stating an aim to build a joined-up EMEA and US practice in the service of fund clients.

17 February 2021

Investment company secures parallel Hong Kong and Cayman schemes

Hong Kong and Cayman Islands courts have sanctioned parallel schemes of arrangement for an investment holding company, finding the Gibbs rule did not prevent it from restructuring Macau law-governed debt.

09 February 2021

Century Sunshine’s Cayman JPLs secure Singapore recognition

BlackOak is advising the “light-touch” provisional liquidators of Chinese fertiliser company Century Sunshine Group, who have won recognition in Singapore to seek a restructuring of locally-listed notes.

15 December 2020

Offshore provisional liquidators not entitled to general stay, Hong Kong court rules

A Hong Kong court has clarified that offshore provisional liquidators are not entitled to a general stay of local proceedings following a standard recognition order, in a ruling that has “punctured a long-standing myth” according to one barrister.

20 November 2020

Hong Kong court allows provisional liquidators to seek first mainland recognition

A Hong Kong court has given the provisional liquidators of a local investment manager permission to seek recognition in mainland China, anticipating a mutual protocol between the jurisdictions as Shenzhen judges raise the possibility of granting foreign recognition for the first time.

16 November 2020

Cayman court appoints “soft-touch” JPLs to block Hong Kong winding-up

A Cayman court has accepted a Chinese plastic manufacturer’s request to enter provisional liquidation on a “soft-touch” basis, so that it could see off official liquidation in Hong Kong.

05 November 2020

Bermudian insurer’s provisional liquidators look to seize US investments

The Bermudian provisional liquidators of an insolvent insurance company have requested Chapter 15 recognition of their appointment in Florida, seeking to take control of its US assets following regulatory breaches at the company.

04 November 2020

New York court receives recognition requests for two Bermudian proceedings

The provisional liquidators of a Bermuda-incorporated investment holding company and the liquidators of a Bermudian water company are seeking Chapter 15 recognition of their appointments, in separate proceedings filed in New York in September.

01 October 2020

Deloitte appointed as KS Energy subsidiaries enter interim JM

Deloitte partners Andrew Grimmett and Justin Lim have been appointed as interim judicial managers over two subsidiaries of oil and gas group KS Energy in Singapore, after the group failed to come to an agreement with its largest creditor.

21 September 2020

Carey Olsen hires new BVI dispute resolution leader

Offshore firm Carey Olsen has hired a new head for its dispute resolution and litigation practice in the British Virgin Islands, from Maples Group.

14 September 2020

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