Liquidators in Hong Kong, who have been trying to take control of Cayman-incorporated China Properties Group against months of resistance from its directors, are petitioning to wind up its Hong Kong subsidiaries indirectly owned through the BVI after failing to persuade a local court to order meetings to replace their boards.
18 March 2024
Global heat exchange group Arvos has won sanction of an English scheme of arrangement to restructure several loan facilities at a lightning-fast hearing, following unanimous support from creditors.
18 March 2024
Just over a year since it failed to consummate a first scheme, Chinese real estate services group E-House’s latest restructuring attempt has been thrown into question again, by a Chinese bank refusing to release guarantee obligations given by a group subsidiary.
14 March 2024
Notes trustee Citicorp International has been substituted as the petitioner in a winding up motion against Chinese property developer Kaisa Group, while Evergrande’s liquidators have appointed Clifford Chance as its legal advisers.
08 March 2024
A British Virgin Islands-based Harneys partner is relocating to Hong Kong to join Appleby’s disputes practice, bringing with him over 30 years of experience working in the UK, Ireland and the Caribbean.
08 March 2024
The liquidators of a Singaporean commodities trader have failed in their attempts to account for a crossclaim the debtor had against its Hong Kong parent when the latter lodged a proof of debt in its winding-up – but they have been given the green light to make claims in the parent’s foreign liquidation.
07 March 2024
Washington-headquartered home fitness company BowFlex has secured provisional access to a US$25 million debtor-in-possession facility, two days after entering a sale agreement with a Taiwanese equipment manufacturer and filing Chapter 11 proceedings with a newly registered New Jersey subsidiary.
06 March 2024
UPDATED: Vietnamese real estate developer No Va Land has retained Sidley Austin, BlackOak and YKVN to advise it on the restructuring of a tranche of convertible bonds through what will be the first pre-pack scheme for a foreign company in Singapore.
06 March 2024
The Hong Kong branch of China Minsheng Banking Corporation has won approval to appoint a liquidator over British Virgin Islands-incorporated fund Tai Feng Investments, after a BVI court said liquidators can be appointed over a solvent company that is unable or refuses to pay its debts.
05 March 2024
Amazon e-commerce aggregator Thrasio has received interim approval to access a debtor-in-possession facility backed by an ad hoc group of lenders, days after filing for bankruptcy due to shifting demand and supply chain issues caused by the covid-19 pandemic.
04 March 2024
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