Regional news: Bermuda

US court orders Madoff trustee to redraft letter of request to Bermuda Supreme Court

A US court has ordered the trustee of Bernie Madoff’s investment firm to narrow the deposition requests he plans to make to the Supreme Court of Bermuda, citing principles of international comity.

07 March 2019

Madoff trustee wins clawback appeal

A US appeals court has ruled that principles of international comity should not stop the trustee of Bernie Madoff’s investment firm recovering assets that he claims were fraudulently transferred to foreign feeder funds.

26 February 2019

Noble’s London hearing sees judicial disquiet

Embattled commodities trader Noble Group and its creditors are awaiting a London court’s ruling on a proposed scheme meeting, as Mr Justice Snowden expressed reservations over the application’s timing, fees paid to members of its ad hoc creditors’ group, and the applicability of a risk participation option to non-financial creditors.

15 October 2018

Noble plan will go to vote at end of August

Shareholders of commodities trader Noble Group will vote on its long-debated restructuring plan in two weeks’ time, as it reports restructuring costs of US$94.6 million.

15 August 2018

Goldilocks settles with Noble

Embattled commodities trader Noble Group has won over its most indomitable creditor, UAE-based Goldilocks Investment Company, which has finally given its blessing to a US$3.5 billion restructuring plan.

21 June 2018

Seadrill Chapter 11 plan recognised in Bermuda

Bermuda’s chief justice has recognised locally-registered offshore drilling company Seadrill’s Chapter 11 reorganisation plan, rejecting a “last chance saloon” objection by minority shareholders in its subsidiary.

05 April 2018

Sudanese sanctions and companies law defeat Liechtenstein creditor in Bermuda

The Supreme Court of Bermuda has refused to “bend the law” to help a Liechtenstein creditor asserting rights over property formerly owned by a defunct fertiliser company, which it could not claim for decades because of sanctions against Sudan.

27 February 2018

Carey Olsen launches operations in Bermuda

A new law firm has launched in Bermuda, in association with offshore group Carey Olsen - with recent recruit Keith Robinson leading the restructuring and insolvency practice.

26 February 2018

Bermudan court awards costs to Ireland-listed hedge fund after winding-up petition withdrawn

A Bermudan court has awarded costs to a hedge fund listed on the Irish Stock Exchange after a winding-up petition lodged against it was withdrawn, telling the petitioner’s counsel that she was seeking to argue “an almost impossible position”.

16 October 2017

Texas court recognises Norwegian oil company’s Bermudan scheme

A court in Texas has recognised a Bermudan scheme of arrangement for Norwegian oil driller Archer, protecting a recently-completed refinancing.

14 July 2017

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