Regional news: Australia

Who can further delay adjourned meetings? Australian court weighs in

UPDATED: A court in Western Australia has issued its reasons for allowing creditors to decide whether a Congolese-Australian miner’s delayed second meeting may be adjourned again, in the face of competing deed of company arrangement proposals from interested parties.

14 April 2021

Australia’s highest court will now hear Cape Town Convention question

Australia’s highest court will now consider what it means to “give possession” under the Cape Town Convention, having granted an application for special leave to appeal a dispute over who should pay for the return of jet engines leased by Virgin Airlines.

13 April 2021

Interim recognition in Australia for Greensill Bank administrator

Greensill Bank’s German insolvency administrator has obtained interim recognition in Australia and has used Eversheds Sutherland to make a similar application in the UK.

07 April 2021

Greensill enters provisional liquidation in Singapore

Greensill’s Asia arm has entered provisional liquidation in Singapore, following the finance group’s UK and Australian administration proceedings, German insolvency filing and US Chapter 11.

30 March 2021

Greensill files Chapter 11 in New York, fails to secure interim DIP order

One day after a US unit of collapsed finance group Greensill filed for Chapter 11 protection, a New York court has adjourned a first-day hearing to approve interim debtor-in-possession financing after raising issues with “awfully expensive” exit fees.

26 March 2021

Dissolved BVI companies restored after “catastrophic” mistake

Two BVI companies that were part of Tokyo-headquartered alternative investor Pacific Alliance Group and were erroneously liquidated and dissolved following a “massive breakdown” of communications will be restored to the islands’ company register.

19 March 2021

US coal miner sues Greensill for fraud

A US coal miner owned by the governor of West Virgina has sued collapsed finance group Greensill for alleged fraud, a week after an English court appointed Grant Thornton as its administrators.

18 March 2021

Lawyers line up to save Greensill’s business

Lawyers are working fast to complete the “urgent” sale of collapsed finance group Greensill’s IP and IT assets to Apollo Global Management, after partners from Grant Thornton were appointed administrators of three Greensill companies in the UK and Australia on Monday.

09 March 2021

California court reverses recognition of Australian judgment

An Australian woman’s US$1.2 million claim in a skin care manufacturer’s US bankruptcy has been thrown out after a California district court reversed the recognition of an Australian judgment.

05 March 2021

Bryan Cave restructuring head to join Simmons & Simmons in London

Simmons & Simmons has hired Bryan Cave Leighton Paisner’s EMEA head of restructuring in London, labelling the practice area “an investment priority” for the firm.

01 March 2021

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