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A New York court is due to hear recognition requests from separate pairs of Bermudian provisional liquidators that have been appointed over unrelated scandal-hit groups, while Wirecard’s German administrator has reached an agreement to stay securities litigation against the payment processor in California.
14 April 2021
Shearman & Sterling has continued its London expansion while FTI Consulting has strengthened its Madrid and Abu Dhabi offices, Kroll has promoted four new managing directors in the UK, and EY has hired in Bermuda.
01 April 2021
A Hong Kong court has again emphasised that foreign soft-touch provisional liquidations should not automatically take precedence over local winding-up petitions – in the latest of a trio of decisions one barrister describes as heralding a “new era” for Hong Kong’s cross-border insolvency regime.
15 March 2021
The “restricted” view that common law recognition favours proceedings in a debtor’s place of incorporation does not serve Hong Kong well, Mr Justice Harris has said in a decision adjourning the recognition of soft-touch provisional liquidators appointed in “questionable” circumstances in Bermuda.
11 March 2021
Hong Kong-listed premium menswear retailer Trinity has applied to appoint light touch joint provisional liquidators in Bermuda, three months after Standard Chartered Bank filed winding up petitions against it.
10 March 2021
Offshore rig operator Seadrill Limited has appointed EY as its joint provisional liquidators in Bermuda for the second time in four years after a conflict between creditors saw it file for Chapter 11 protection in Texas last week.
15 February 2021
Five of offshore rig operator Seadrill’s Asian subsidiaries have entered Chapter 11 proceedings in Texas, listing Dubai’s ZDN Investment and Saudi Arabia-based Algosaibi Services Company as their largest unsecured creditors.
08 February 2021
A subsidiary of Bermuda-incorporated, Jersey-headquartered miner Petra Diamonds has had its English scheme sanctioned, with the judge assuming it could be recognised in the EU since the proceedings were commenced before the UK’s Brexit transition period closed.
12 January 2021
An English subsidiary of an African diamond miner has sought recognition of its scheme proceedings in New York, two weeks after the joint provisional liquidators of a Bermudian insurance company also filed Chapter 15 proceedings in the city.
16 December 2020
BlackOak is advising the “light-touch” provisional liquidators of Chinese fertiliser company Century Sunshine Group, who have won recognition in Singapore to seek a restructuring of locally-listed notes.
15 December 2020
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