Receivership
Steel trader enters UK administration following contract claims in US
Katten Muchin Rosenman’s new London office is advising administrators appointed by Wells Fargo over the UK arm of an international steel trader, after a receiver took control of the company in the US last year.
12 March 2021
A developing area: court-appointed receiverships in Jersey
Collas Crill recently brought a novel, successful application to appoint receivers over a promissory note and reconstitute a breach of a Jersey trust in the context of a bitter international family dispute. Group partners Sam Williams and Simon Hurry, who respectively brought the application, and led a team on behalf of the receivers in world-wide enforcement and recovery proceedings, discuss this first instance of a Jersey Court appointing receivers in aid of equitable execution.
04 March 2021
Maples hires in Hong Kong and Cayman Islands, promotes in London
The former head of Freshfields’ Asia restructuring practice and an English-qualified barrister have joined Maples Group as partners in Hong Kong and the Cayman Islands, while the firm has also promoted in London.
02 February 2021
French firm Franklin expands in Paris
A year on from the foundation of its restructuring practice under Numa Rengot, France’s Franklin has expanded in Paris with a hire from Deloitte’s French firm Taj.
21 January 2021
Chinese petrochemical group’s BVI subsidiary seeks scheme recognition in Texas
British Virgin Islands-incorporated special purpose vehicle Rock International Investments is seeking Chapter 15 recognition of its BVI scheme of arrangement, while its parent company has entered bankruptcy proceedings in China.
24 November 2020
Hong Kong court allows Shandong Shanshui employees to pursue EY receivers
Five employees of China’s Shandong Shanshui Cement Group have won retrospective permission to bring claims against receivers from EY, following a ruling in Hong Kong.
30 October 2020
Alvarez & Marsal makes first senior hires in Singapore
Alvarez & Marsal has expanded in Asia with its first two senior appointments in Singapore, from FTI Consulting and HSBC subsidiary Serai.
28 October 2020
Greenberg Traurig hires in Boston
Greenberg Traurig has hired a new shareholder in Boston from Mintz Levin.
26 October 2020
BVI court blocks receivers from replacing Japanese company’s directors
The receivers of a BVI investment company have been prevented from replacing the directors of its Japanese subsidiary, after a local court found a Singaporean investor could not apply on their behalf.
14 October 2020
Chinese-owned Hontop Energy placed under judicial management
A Singapore court has placed Hontop Energy, the trading arm of a Chinese independent oil refiner, under full judicial management supervised by RSM Advisory, following allegations of “suspicious transactions” from its biggest lender.
11 September 2020
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