Liquidators in Hong Kong, who have been trying to take control of Cayman-incorporated China Properties Group against months of resistance from its directors, are petitioning to wind up its Hong Kong subsidiaries indirectly owned through the BVI after failing to persuade a local court to order meetings to replace their boards.
18 March 2024
Just over a year since it failed to consummate a first scheme, Chinese real estate services group E-House’s latest restructuring attempt has been thrown into question again, by a Chinese bank refusing to release guarantee obligations given by a group subsidiary.
14 March 2024
Parties seeking to appoint receivers over more than one segregated portfolio belonging to the same company do not need to make separate applications, a judge in the Cayman Islands has found, refunding the filing fees for a segregated portfolio company that was forced to make nine different petitions.
14 March 2024
Notes trustee Citicorp International has been substituted as the petitioner in a winding up motion against Chinese property developer Kaisa Group, while Evergrande’s liquidators have appointed Clifford Chance as its legal advisers.
08 March 2024
A Cayman investment fund is seeking to stay an arbitration brought by New York-headquartered law firm Schulte Roth & Zabel, claiming the firm is trying to charge it “exorbitant and unjustified” fees in connection with the failed Chapter 11 of Texas-based retailer Tuesday Morning.
07 March 2024
The Hong Kong branch of China Minsheng Banking Corporation has won approval to appoint a liquidator over British Virgin Islands-incorporated fund Tai Feng Investments, after a BVI court said liquidators can be appointed over a solvent company that is unable or refuses to pay its debts.
05 March 2024
McDermott International’s contested English restructuring would have gone to mediation and would likely have resulted in a settlement if it was playing out in the US, according to a former bankruptcy judge who acted as an expert in the case.
27 February 2024
The liquidators of Silicon Valley Bank’s Cayman Islands branch have launched a suit against the US Federal Deposit Insurance Cooperation for allegedly discriminating against Chinese investors, one day after a New York judge denied their request for Chapter 15 recognition.
26 February 2024
The liquidators of five affiliated British Virgin Islands shell companies connected with scandal-ridden Malaysian sovereign wealth fund 1MDB have filed for recognition in Miami, adding to at least 12 offshore vehicles that have already petitioned the same court.
21 February 2024
Recent appointee to the Cayman Court of Appeal Justice Sir Anthony Smellie KC tells GRR about the legislative changes he oversaw in the jurisdiction during his 24-year tenure as Cayman Islands chief justice, the “critical importance” of court-to-court cross-border cooperation, and the cases he is looking forward to hearing in his new role.
19 February 2024
Unlock unlimited access to all Global Restructuring Review content