Regional news: Africa & Middle East

Aussie copper miner completes first guarantor’s scheme, bypasses Gibbs rule with declaration

King & Wood Mallesons has helped the parent of a copper miner complete the first guarantor’s scheme of arrangement in Australia, restructuring English law-governed debts and getting around the Gibbs rule with a declaration from an English court.

29 June 2020

African Minerals secures scheme hearing in England

African Minerals, a Bermuda-registered mining company in administration in the UK, has won court approval to hold a scheme meeting to help it resolve a creditor conflict about whether it should pursue claims against a Chinese steel group.

29 June 2020

Congolese bank wins summary judgment against Travelex in England

The Democratic Republic of Congo’s largest bank has obtained a US$60 million summary judgment against struggling foreign exchange company Travelex in England, following a breach of contract over a supply of bank notes.

25 June 2020

Abu Dhabi’s NMC Health wins US recognition

Scandal-hit Middle Eastern healthcare chain NMC Health has won recognition of its English administration proceedings in Delaware, after its foreign representatives from Alvarez & Marsal received no objections to their motion for final relief.

25 June 2020

MoFo advising as Air Mauritius wins UK recognition

The joint administrators of Mauritian flag carrier Air Mauritius have won UK recognition of its local insolvency proceedings, along with additional relief against creditor actions under the UK’s Insolvency Act.

22 June 2020

Pinsent Masons recruits new banking head from Norton Rose Fulbright in Dubai

Norton Rose Fulbright partner Matthew Escritt has joined Pinsent Masons as its regional head of banking in Dubai, as many of the UAE’s formal restructurings are set to be postponed until next year in light of the pandemic.

12 June 2020

Abu Dhabi’s NMC Health seeks US recognition to halt class actions

Scandal-hit Middle Eastern healthcare chain NMC Health is seeking recognition of its English administration proceedings in Delaware, in an effort to block two class actions launched by stockholders in California.

01 June 2020

English company to serve winding-up on Finablr in Abu Dhabi

An English design consultancy has won permission from a UK court to serve a winding-up petition on scandal-hit financial services holding company Finablr in Abu Dhabi.

26 May 2020

South Africa’s Webber Wentzel strengthens team in Johannesburg

Linklaters alliance firm Webber Wentzel has recruited former Allen & Overy partner Khurshid Fazel as its new restructuring head in Johannesburg, along with partner Julian Jones from Cliffe Dekker Hofmeyr.

18 May 2020

DLA Piper advising administrators of scandal-hit NMC Health

DLA Piper partners Chris Parker and Peter Somekh are advising a trio from Alvarez & Marsal as joint administrators of Abu-Dhabi-based healthcare chain NMC Health, which has been engulfed in accusations of fraudulent accounting.

14 April 2020

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