Regional news: Africa & Middle East

Heads Up: Grant Thornton UK’s Africa group leader Amaechi Nsofor

Partner and head of Grant Thornton’s Africa insolvency & asset recovery offering Amaechi Nsofor speaks to GRR about the challenges of enforcing securities and judgments in Africa, why he expects creditors with assets in the region to turn to funding solutions, and how Grant Thornton’s asset recovery fund represents a "first mover" advantage.

29 July 2021

Latham & Watkins re-hires partner in Dubai

Latham & Watkins has re-hired a partner in Dubai after he spent four years in-house at Dubai Holding, the global investment company of the Emirate's ruler.

26 July 2021

GÖRG partner appointed over kitchenware company

Germany-based kitchenware company Neue Alno has filed for insolvency for the second time in four years, with GÖRG partner Holger Leichtle appointed as provisional trustee.

19 July 2021

NMC Healthcare administrators prep for London arbitration

NMC Healthcare’s ADGM administrators and Dubai Islamic Bank have agreed to a London arbitration to resolve their disputes over insurance receivables the bank claims it is entitled to as security.

16 July 2021

Steinhoff settlement in danger

Embattled South African conglomerate Steinhoff’s global settlement is in jeopardy, after a Cape Town court ruled that a key part of its plan is invalid.

05 July 2021

Reasons published for NMC Healthcare’s UK recognition

Sir Alastair Norris has released his reasons for recognising NMC Healthcare’s Abu Dhabi administrations as foreign main proceedings, and for imposing a moratorium to bind secured creditors.

01 July 2021

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

NMC Healthcare’s Abu Dhabi administrators secure English recognition

The Abu Dhabi General Market administrators of NMC Healthcare have secured recognition in England, with a London court finding the group’s insolvency proceedings constituted foreign main proceedings.

16 June 2021

Construction group winds down after Greensill collapse scuppers refinancing

A prefabricated construction company and former Greensill client with factories in the US, India and Saudi Arabia has entered Chapter 11 in Texas to sell off its assets and wind down, with the help of a US$35 million debtor-in-possession promissory note from a UK-based Softbank entity.

15 June 2021

Singapore appellate court sets out rules for director winding-up appeals

The Singapore Court of Appeal has set out two general rules to prevent directors and shareholders from using a company’s funds to pursue unmeritorious appeals against winding-up orders when the monies should be reserved for paying creditors.

11 June 2021

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