Receivership

Federal receiver wins first round of US-Cayman comity dispute

A US receiver appointed over a collapsed Cayman feeder fund has won court approval for his distribution plan after a Florida district judge rejected calls by the fund’s liquidators to apply Cayman law instead.

09 August 2022

Interpath expands offshore with Kalo merger

The UK’s Interpath Advisory has acquired Caribbean-based Kalo Advisors, marking its expanse into three jurisdictions outside the UK in a little under three months.

20 July 2022

US receiver hits back at Cayman feeder fund liquidators

The US receiver of a bankrupt Cayman feeder fund has responded to claims by its liquidators that his proposed distribution plan does not “follow the law”, saying they have clearly failed to show why Cayman law should trump US law and public policy.

29 June 2022

South Square’s Riddiford moves to Essex Court

Alexander Riddiford, who served as junior counsel to the administrators of Lehman Brothers’ main European arm in its Waterfall litigation, has joined Essex Court Chambers.

07 June 2022

Canadian court favours insolvency process over arbitration

A US-based sports management company has failed to stay a claim brought against it by insolvent advertising network Mundo Media, after a Canadian court ruled claims between the pair should be dealt with in receivership rather than by arbitration in New York.

23 May 2022

Canadian developer wins Chapter 15 relief in bid to secure financing

Real estate developer Legacy Lifestyles Destin Property has secured provisional recognition of its Canadian receivership, which it says will help it obtain financing secured by its Florida-based properties.

19 April 2022

Nygard companies' receiver can place them into bankruptcy after substantive consolidation ruling

A receiver appointed over nine US and Canadian companies linked to fashion mogul Peter Nygard has been granted permission to place them into bankruptcy, after a Manitoba court ruled the companies jointly liable for the group’s debt, and consolidated their assets.

14 April 2022

Quantuma expands into the British Virgin Islands with new hire

Business advisory firm Quantuma has continued its international expansion with the launch of a new office in the British Virgin Islands and the hire of former Kalo senior manager Toni Shukla.

06 April 2022

Ogier ordered to stay on as counsel to sanctioned Russian bank after raising concerns

Offshore firm Ogier has been prevented from coming off the record as counsel to Russia’s VTB Bank, as a British Virgin Islands court declined to discharge local receivers appointed for the sanctioned bank's benefit, while permitting them to take no further actions in fulfilment of their role.

24 March 2022

BVI court to consider impact of Russia sanctions on receivership

A British Virgin Islands court is gearing up to consider the impact of Russia sanctions on receivers appointed over a local entity for the benefit of Russia’s VTB Bank, which is seeking to enforce a US$30 million judgment debt against a Ukrainian businessman and politician.

15 March 2022

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