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Hong Kong and Cayman Islands courts have sanctioned parallel schemes of arrangement for an investment holding company, finding the Gibbs rule did not prevent it from restructuring Macau law-governed debt.
09 February 2021
Having already secured Hong Kong recognition, the provisional liquidators of China’s Luckin Coffee have asked a New York court to stave off shareholder actions in the US while they restructure the group’s holding company through a pair of Cayman schemes, to deal with revelations it falsely inflated its accounts last year.
08 February 2021
US shareholders of a cryptocurrency trading platform are seeking to wind it up in the Cayman Islands, alleging its directors breached their fiduciary duties by allowing the conflicted CEO of OneWeb to take it over; meanwhile, a Cayman court has appointed provisional liquidators over a Hong Kong-based investment holding company.
05 February 2021
The former head of Freshfields’ Asia restructuring practice and an English-qualified barrister have joined Maples Group as partners in Hong Kong and the Cayman Islands, while the firm has also promoted in London.
02 February 2021
A mainland Chinese bank has secured a Hong Kong winding-up order against a real estate group that failed to justify before Mr Justice Harris why the order should be adjourned pending a restructuring: meanwhile a Hong Kong-based investment holding company is seeking liquidation in the Cayman Islands.
26 January 2021
Cayman-incorporated oil and gas group KrisEnergy has secured creditor support for its Singaporean scheme of arrangement as part of a restructuring of its US$477 million debt pile.
19 January 2021
The liquidators of Cayman fund Saad Investments Company have been stopped from clawing back US$318 million worth of shares that its founder transferred to a Saudi bank after the fund’s collapse over a decade ago.
18 January 2021
UK-headquartered Quantuma has acquired a Cayman Islands-based advisory firm recently founded by asset recovery specialist Angela Barkhouse, stating it wants to replicate its past success expanding internationally in Cyprus and Mauritius.
07 January 2021
A Singapore court has upheld a Mareva injunction issued against a Cayman holding company and its Canadian director, rejecting challenges to its jurisdiction over a foreign law dispute.
04 January 2021
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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