Regional news: Cayman Islands

“Undesirable outcome”: Cayman court dismisses winding-up petition despite Hong Kong order

A Cayman Islands court has dismissed a winding-up petition against a locally incorporated investment manager, despite a Hong Kong court issuing a winding-up order against the guarantor of the company’s debt.

06 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

Skadden, Akin Gump and Milbank advising as Noble enters Chapter 11

London-headquartered offshore drilling contractor Noble Corporation has filed Chapter 11 proceedings in Texas, after entering a US$3.4 billion restructuring agreement with two ad hoc groups of its bondholders.

03 August 2020

Singapore court recognises energy company's Hong Kong liquidation

A Singapore court has recognised the Hong Kong liquidation of energy company Shanghai Huaxin Group under its three-year-old Model Law legislation, expanding a multi-jurisdictional bankruptcy linked to an international bribery scandal.

17 July 2020

Hong Kong court blocks use of Singapore Mareva order as evidence

The Hong Kong Court of Appeal has refused to admit a Singapore court’s Mareva injunction as evidence that an equivalent order should be reinstated in Hong Kong, for the liquidators of Cayman-incorporated China Medical Technologies.

13 July 2020

Ogier promotes one in Guernsey, hires two in London

Offshore firm Ogier has promoted Bryan de Verneuil-Smith in its Guernsey dispute resolution team and hired Jeremy Snead and Anna Snead from Appleby in the Cayman Islands.

03 July 2020

Begbies Traynor brought in as Hong Kong-owned Wigan Athletic kicks off administration

English football club Wigan Athletic has fallen into administration in the UK, just weeks after it was taken over by Cayman-registered, Hong Kong-based Next Leader Fund.

03 July 2020

Conyers hires new restructuring head in Cayman

Offshore firm Conyers has hired Alex Potts QC as the new head of its litigation and restructuring practice in the Cayman Islands.

10 February 2020

Cayman fund seeks protection in New York amid SEC complaint

A Cayman Islands fund is seeking US recognition of its Cayman liquidation, as the US Securities and Exchange Commission investigates allegations that its investment adviser orchestrated a “wide-ranging fraudulent scheme”.

20 January 2020

Hong Kong court strikes out part of China Medical fraud claim

A Hong Kong court has struck out part of a fraud claim brought by the liquidators of Cayman-incorporated China Medical Technologies against one of the company’s former directors.

02 January 2020

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