Regional news: Australia

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

Australian voluntary administrators to serve claim on Harneys in BVI

In separate actions in Australia, the voluntary administrators of a Congolese gold mine owner have secured permission to serve a security interest claim on a Harneys arm in the BVI, while a Queensland court is to consider recognising a Singaporean personal bankruptcy.

23 February 2021

Funder applies to wind-up Cayman client after Albanian bailiff seizes award

An Australian disputes funder has applied to wind up its Cayman oil company client after discovering that a US$12.6 million arbitral award it helped secure was sequestered by a bailiff in Albania.

15 February 2021

No guarantees: Tiger Resources Unpacked

Featured in Unpacked

GRR investigates how the Australian parent of a Congolese copper miner became the first company in the common law world to implement a guarantor’s scheme of arrangement, against a “well-funded, well-advised” opposing creditor and where restructuring in the Democratic Republic of the Congo or England was deemed possible, but impractical.

12 February 2021

Speedcast Chapter 11 sale approved in Texas

Australian satellite communications group Speedcast has won a Texan court’s approval for a Chapter 11 sale plan after reaching a creditor settlement that allows it to potentially file for voluntary administration in Australia.

22 January 2021

Alita DOCA temporarily blocked over mine sale

The administrators of Singapore-listed lithium miner Alita Resources have been blocked from effectuating a deed of company arrangement, pending a dispute over a sale process they oversaw for a mothballed mine in Western Australia.

07 January 2021

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