Recognition

English court grants Dutch Hema single class scheme meeting

An English court has let Dutch retailer Hema hold a creditors’ vote on the English scheme that is key to its planned multi-jurisdictional restructuring in the UK, the US and the Netherlands.

29 July 2020

Brazilian court approves Odebrecht’s results-based reorganisation plan

A Brazilian court has approved a restructuring plan for non-operating companies in Brazil’s Odebrecht group, which will see it pay creditors with the proceeds of asset sales and new, profit-sharing securities.

29 July 2020

European digital technologies group seeks recognition in New York

The CEO of Paris-registered digital technologies specialist Ymagis has applied for recognition of its French insolvency proceedings in New York, just months after it agreed a €52 million restructuring.

29 July 2020

Texan trustee seeks UK’s help in suspected brotherly bankruptcy fraud

The Texan trustee of a discharged bankrupt now suspected of possible bankruptcy fraud with his brother, is using the UK’s cross-border insolvency law to try to access a London Thameside property.

28 July 2020

English court sanctions scheme for British retailer Matalan

An English judge has approved Guernsey-owned British fashion and homeware retailer Matalan’s scheme of arrangement, for which it will seek US recognition in the coming days.

27 July 2020

Paper company seeks Hong Kong recognition of Bermudian light-touch JPLs

A Bermudian court has appointed light-touch provisional liquidators over a locally incorporated paper company and asked a Hong Kong court for assistance, amid a potential investigation into auditing issues at the company.

27 July 2020

Australian court allows trustee of disqualified tax agent to seek UK recognition

An Australian court has allowed the bankruptcy trustee of a disqualified tax agent to seek recognition of his appointment in the UK, pursuant to the UNCITRAL Model Law on Cross-Border Insolvency.

24 July 2020

Weil partner moves to Shearman & Sterling in London

Shearman & Sterling has hired Weil Gotshal & Manges partner Alex Wood in London, as firms around the globe continue to prepare for a coronavirus-induced wave of restructurings.

17 July 2020

Bermudian court terminates UK recognition order over litigation probe rules

A Bermudian court has discharged the recognition of a UK-appointed liquidator, affirming rules on gathering information for foreign lawsuits laid out by the Privy Council in its 2014 Singularis decision.

17 July 2020

Singapore court recognises energy company's Hong Kong liquidation

A Singapore court has recognised the Hong Kong liquidation of energy company Shanghai Huaxin Group under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.

17 July 2020

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