Regional news: Bermuda

New York court receives recognition requests for two Bermudian proceedings

The provisional liquidators of a Bermuda-incorporated investment holding company and the liquidators of a Bermudian water company are seeking Chapter 15 recognition of their appointments, in separate proceedings filed in New York in September.

01 October 2020

Hong Kong court urges consistency in recognition requests

A Hong Kong court has recognised the Bermudian “soft-touch” provisional liquidations of a metals company and a commodities trader, but has asked for consistency from foreign officeholders and courts seeking assistance.

08 September 2020

BVI court refuses to discharge freezing order against Chinese cinema owner

A British Virgin Islands court has refused to set aside a freezing order against the Chinese owner of insolvent cinema group SMI Holdings, addressing a recent appeal decision on Chabra injunctions.

18 August 2020

Bermuda-registered oil services company files Chapter 11 in New York

A Bermuda-registered oil and gas services company with operations in the North Sea and West Africa has sought Chapter 11 protection after failing to reach a deal with its Scandinavian lenders.

13 August 2020

“Light-touch” JPLs appointed over Chinese fertiliser group in three jurisdictions

Courts in the Cayman Islands, Bermuda and the British Virgin Islands have appointed “light touch” joint provisional liquidators over Chinese fertiliser company Century Sunshine Group.

05 August 2020

Bermuda court extends injunction to prevent risk of Gupta asset claim dissipation

A Bermudian court has extended a Mareva injunction against a locally-registered commodities trader, finding there was a risk of dissipation of its only realisable asset – a claim in the South African restructuring of a coal mine formerly owned by the Gupta family.

27 July 2020

African Minerals scheme sanctioned in London

The High Court of Justice in London has sanctioned a scheme for mining company African Minerals, despite only four unsecured creditors voting at the scheme meeting last week.

27 July 2020

Paper company seeks Hong Kong recognition of Bermudian light-touch JPLs

A Bermudian court has appointed light-touch provisional liquidators over a locally incorporated paper company and asked a Hong Kong court for assistance, amid a potential investigation into auditing issues at the company.

27 July 2020

African Minerals creditors back English scheme

Creditors of Bermuda-registered mining company African Minerals have voted to approve its English scheme to resolve a creditor conflict about claims the company may bring against China’s Shandong Iron and Steel Group.

21 July 2020

Bermudian court terminates UK recognition order over litigation probe rules

A Bermudian court has discharged the recognition of a UK-appointed liquidator, affirming rules on gathering information for foreign lawsuits laid out by the Privy Council in its 2014 Singularis decision.

17 July 2020

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