Regional news: Cayman Islands

Heads Up: Grant Thornton UK’s Africa group leader Amaechi Nsofor

Partner and head of Grant Thornton’s Africa insolvency & asset recovery offering Amaechi Nsofor speaks to GRR about the challenges of enforcing securities and judgments in Africa, why he expects creditors with assets in the region to turn to funding solutions, and how Grant Thornton’s asset recovery fund represents a "first mover" advantage.

29 July 2021

Fund director invented agreement to avoid winding-up, Cayman court finds

A Cayman mutual fund has failed to strike out a BVI creditor’s winding-up petition against it, after a Cayman court found the fund’s principle director had invented an agreement to undermine the creditor’s standing.

29 July 2021

Hong Kong court: only a bona fide dispute triggers exclusive jurisdiction clause

A Cayman investment fund has secured a bankruptcy order against the Chinese owner of an international care home business, after persuading a Hong Kong judge there was no disputed debt to push the issue before New York courts in line with an exclusive jurisdiction clause.

28 July 2021

Hong Kong fund directors face Cayman litigation

The liquidators of an Asia-focused mutual fund are suing its directors in the Cayman Islands, accusing them of offloading shares it held in a Hong Kong company against its interests.

23 July 2021

Ashurst hires in Singapore

Ashurst has bolstered its Asian restructuring practice with the hire of partner Robert Child from Clifford Chance in Singapore.

20 July 2021

FTI Consulting, Clifford Chance and Mourant advise in Trans Maldivian Airways takeover

At least nine law and advisory firms have completed a consensual restructuring of the world’s largest seaplane operator, Trans Maldivian Airways, through an acquisition by some of its lenders.

20 July 2021

Chinese miner loses winding up bid in Hong Kong

A Chinese subsidiary of Cayman-incorporated miner Newton Resources has lost an attempt to wind up a Hong Kong-based asset manager that it claims owes it US$5.5 million under a coal purchase agreement.

13 July 2021

Hong Kong property developer faces winding up in the Cayman Islands

An Australian company and its director have applied to wind up a Hong Kong-headquartered property developer and a related entity in the Cayman Islands, amid a dispute over which of two similarly-named group companies provided security on an unpaid US$2 million loan.

12 July 2021

UK lender Amicus secures plan meetings after class composition overruled

The administrators of UK lender Amicus Finance have secured restructuring plan meetings in London, but the High Court overruled their suggested class composition following creditor opposition.

09 July 2021

US court blocks Luckin Coffee settlement intervention

A group of funds have lost a bid to intervene in a proposed settlement between China’s Luckin Coffee and a class of investors that claim the company falsely inflated its sale figures.

08 July 2021

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