Recognition

Indonesia’s Pan Brothers seeks US recognition of Singaporean pre-pack

Indonesian garment manufacturer Pan Brothers has sought Chapter 15 recognition in New York to effectuate its Singaporean pre-packaged scheme of arrangement that was sanctioned last month.

07 February 2022

Judge Martin Glenn elected to SDNY chief role

Judge Martin Glenn, who presided over the Chapter 11 and Securities Investor Protection Act proceedings of derivatives broker MF Global and many other large cross-border insolvencies, has been selected as the next chief bankruptcy judge for the Southern District of New York.

01 February 2022

Italian ferry operator seeks US recognition amid asset seizure attempts

Ferry operator Moby SPA has sought Chapter 15 recognition of its troubled Italian restructuring in Florida in an effort to block creditors from seizing its assets.

25 January 2022

Second mainland recognition request issued in Hong Kong

The liquidators of a Hong Kong-incorporated hydropower group have applied for recognition in mainland China, a month after a Shenzhen court's historic recognition of Samson Paper Company’s Hong Kong liquidators.

24 January 2022

UK appeal court sets aside Russian bankruptcy recognition

A UK appeal court has set aside a decision recognising the Russian bankruptcy of former Vneshprombank owner Georgy Bedzhamov and remitted the case back to the High Court, so he can be cross-examined on claims that a guarantee on which the bankruptcy rests had been forged.

21 January 2022

Indonesia’s Pan Brothers obtains Singapore scheme sanction

Indonesian garment manufacturer Pan Brothers has had its pre-packaged scheme sanctioned in Singapore, months after an Indonesian court recognised its moratorium in the city state.

17 January 2022

Mainland court recognises Hong Kong liquidators for first time

The liquidators of a Hong Kong-incorporated paper company have secured the historic recognition of their appointments in mainland China following a first-of-its kind ruling by the Shenzhen Intermediate People’s Court.

14 January 2022

Isle of Man liquidator seeks Chapter 15 recognition in US first

In what is thought to be the first application for recognition of an Isle of Man voluntary liquidation in the US, an Africa-focused private jet operator's liquidator has filed a Chapter 15 in Oklahoma to stall a local litigation and try to access escrow funds.

14 January 2022

Revised EIR 2015 adds Dutch and German schemes to annexes

Updated: The recast European Insolvency Regulation has been updated to include the new Dutch and German schemes among the proceedings it covers and remove English insolvencies and insolvency practitioners from its annexes following Brexit.

10 January 2022

Trustee of Brazilian meat group seeks US help in liquidation efforts

The bankruptcy trustee of a Brazilian meat producer caught up in a widespread fraud has applied for recognition in New York to allow him to find and liquidate assets in the US – after he failed to find any cash in Brazil.

06 January 2022

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