Regional news: Africa & Middle East
KPMG head of advisory moves to FTI Consulting in Dubai
FTI Consulting has hired KPMG’s head of advisory in Dubai to lead its Middle East restructuring practice.
29 October 2020
Sunbird wins convening hearing despite class composition dispute
After its original scheme documentation was rejected as “misleading” in September, flexible workspace provider Sunbird has won a convening order for a single meeting of creditors to vote on a new scheme.
28 October 2020
A&M Middle East head joins KordaMentha in Sydney
Asia-Pacific advisory firm KordaMentha has hired the former head of Alvarez & Marsal’s Middle East turnaround and restructuring practice.
27 October 2020
ADGM: A commercially fair and efficient Middle Eastern regime
Alexander Wood, a partner at Shearman & Sterling in London whose firm advised on the establishment of the Abu Dhabi Global Market’s legal and regulatory framework, discusses why parties to regional restructurings and insolvencies should now consider the ADGM regime.
23 October 2020
Ashurst and White & Case advise as African diamond miner cuts creditor deal
A Jersey-incorporated group that operates African diamond mines has agreed a debt-for-equity restructuring with creditors, which it plans to carry out through a scheme of arrangement in England.
22 October 2020
AHAB and Saad settle multi-billion-dollar fraud claims
Saudi conglomerates Ahmad Hamad Al-Gosaibi & Brothers and Saad Group have settled billions of dollars’ worth of fraud claims against each other, following a decade-long dispute in the Cayman Islands.
13 October 2020
Hyflux receives expression of interest from US investor
A US private equity firm has made a US$150 million investment offer to embattled Singaporean water treatment company Hyflux, days before a judicial management application is set to be heard in the Lion City’s High Court.
13 October 2020
“Open for business”: BVI court approves third party litigation funding
In the first written judgment of its kind, a British Virgin Islands court has approved third party funding agreements for litigation and other liquidation fees and expenses in relation to a multinational Ponzi scheme.
01 October 2020
Abu Dhabi court appoints Alvarez & Marsal as NMC Healthcare’s administrators
NMC Health’s UAE entities have been placed into administration in Abu Dhabi’s financial free zone, after successfully applying for protection against enforcement of debt claims this weekend.
28 September 2020
African Minerals Limited: using a scheme to unlock value for all creditors
Partner Richard Hornshaw and counsel Tom Laidler from Akin Gump Strauss Hauer & Feld’s London litigation team discuss how a Cayman litigation trust and an English scheme were used to get around creditor differences on pursuing significant litigation, in the context of the administration of an iron ore miner in Sierra Leone.
22 September 2020
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