Regional news: Asia-Pacific

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

Force India liquidators see off Austrian sponsor’s debt challenge

An English court has dismissed part of a proof of debt submitted in the liquidation of Force India, finding the Formula One team did not have to fully repay funds from its main sponsor.

24 November 2020

Bill Clinton at the ABI: “We need to get back into the tomorrow business”

Former US president Bill Clinton said the country’s federal government needs to provide at least one more round of “significant” investment to deal with the economic consequences of the covid-19 pandemic, as he addressed the American Bankruptcy Institute’s International Insolvency Forum.

20 November 2020

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