Recognition

RSM under fire as Cayman soft-touch JPLs refused assistance in Hong Kong

In the first decision of its kind, a Hong Kong court has declined to assist an investment holding company’s Cayman soft-touch provisional liquidators despite recognising their appointments, citing concerns over the treatment of creditors.

12 May 2021

Recognition considerations after Brexit: Rome Regulation offers hope after UK’s Lugano blow

RPC’s Paul Bagon, Will Beck and Kate Watson consider the alternative avenues for recognition of schemes in the EU following a setback in the UK’s bid to join the Lugano Convention – and discuss the broader landscape for international recognition of insolvency proceedings after Brexit.

11 May 2021

UK’s Lugano application suffers setback

The European Commission has recommended the EU does not give its consent for the UK to join the Lugano Convention – striking a blow to the ability of UK practitioners to seek recognition of schemes in Europe.

06 May 2021

Sanjeev Gupta’s Liberty Steel appoints restructuring committee, faces winding-up petitions

Norton Rose Fulbright, PJT Partners and Alvarez & Marsal are advising a new international restructuring and transformation committee appointed by Sanjeev Gupta’s Liberty Steel Group to help it navigate trade finance provider Greensill’s collapse.

06 May 2021

English court recognises Ukrainian bank’s liquidation

The liquidator of a Ukrainian bank has received recognition in England under the UK’s Cross-Border Insolvency Regulations, five months after a Florida court granted Chapter 15 recognition of the bank’s 2015 liquidation.

30 April 2021

Sidley Austin nabs DLA Piper global co-chair

Sidley Austin has hired the global co-chair and US chair of DLA Piper’s restructuring group in New York.

28 April 2021

Lion Air leasing dispute falls foul of English service rule

An aircraft leasing group that is trying to sue Indonesian and Thai subsidiaries of Asia’s Lion Air in England should have sought permission for service out of the jurisdiction before applying for alternative service, a court has found, in a dispute playing out against parallel conciliation proceedings in France.

28 April 2021

Israeli tailoring firm's trustee seeks US recognition

Nearly a year after an Israeli court placed global tailoring provider Bagir Group into liquidation, its trustee has sought Chapter 15 recognition in New York.

27 April 2021

Enyo hires from Eversheds following Greensill’s UK recognition

Just weeks after helping the German administrator of Greensill Bank secure recognition in the UK, Eversheds Sutherland partner Jamie Leader has left the firm for Enyo Law.

26 April 2021

Chapter 15 round-up: DTEK, Greensill and Samarco seek recognition in New York

Ukrainian coal miner DTEK has sought US recognition of its English scheme compromising New York bonds, while Greensill Bank’s German insolvency administrator and Brazilian mining company Samarco Mineração have also made Chapter 15 applications for their respective proceedings in Bremen and Belo Horizonte.

21 April 2021

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