Regional news: Asia-Pacific
Thai Airways rehabilitation recognised in the UK
An English court has recognised Thai Airways’ Bangkok rehabilitation proceedings, granting its foreign representatives additional relief in the form of a moratorium on secured creditors taking enforcement actions.
09 December 2020
IWIRC launches Korea network
The International Women’s Insolvency & Restructuring Confederation has launched a new network in Korea, led by AlixPartners director Jungmin Lee and Alvarez & Marsal manager Jiwon Nam.
08 December 2020
VTB secures winding-up order against Hong Kong company
The Swiss branch of Ireland-registered VTB Commodities Trading has won a winding-up order against a Hong Kong company that owes it substantial US dollar and Euro denominated debts.
08 December 2020
Former Steinhoff CRO Heis returns to KPMG
KPMG’s former global head of restructuring Richard Heis has returned to the Big Four firm, three years after he retired from its partnership.
07 December 2020
Administrators appointed over Alita Resources in Australia
A US-based secured creditor of Australian lithium miner Alita Resources has appointed voluntary administrators over the company, two days after its deed of company arrangement came into effect.
07 December 2020
Dean & DeLuca brings avoidance claim against former Japanese JV partner
A Delaware-registered arm of bankrupt Thai-owned upmarket grocer Dean & DeLuca has filed an adversary claim in New York against its former Japanese joint venture partner and an affiliate, arguing they took advantage of the grocer’s insolvency to buy shares at a steep discount.
04 December 2020
Duff & Phelps expands global reach with Borrelli Walsh acquisition
International advisory firm Duff & Phelps has announced it is buying Asia and Caribbean restructuring and asset recovery specialists Borrelli Walsh, in a deal set to be completed by mid-December.
02 December 2020
KrisEnergy settles after failing to block Cayman winding-up petition
An oil and gas group pursuing a Singaporean scheme, KrisEnergy, has reached a settlement with a creditor that brought a Cayman winding-up petition against its Thai subsidiary, after failing to secure an injunction on the petition.
30 November 2020
Dean & Deluca’s fifth Chapter 11 plan gets court approval
Thai-owned gourmet retailer Dean & DeLuca has won court approval for its several-times renegotiated Chapter 11 restructuring plan, after former bankruptcy Judge Kevin Carey helped it reach a mediated settlement with stakeholders.
30 November 2020
Thai bank fails to block English fraudulent transfer claim
An English court has refused to strike out a fraudulent transfers claim against a Thai bank, ruling there was a reasonable prospect the claim would be found to have a sufficient connection to England.
25 November 2020
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