Regional news: Cayman Islands

PwC appointed as Cayman court winds up Altair

A British Virgin Islands investor has secured the winding-up of Hong Kong-based investment manager Altair Asia in the Cayman Islands, five months after its first attempt to obtain an order was dismissed.

14 December 2020

Canadian stay lifted in Cayman recognition case

A Canadian court has set aside an automatic stay granted to a married couple appealing the recognition of two Cayman orders made against them, finding it hindered investigations into their assets.

14 December 2020

KrisEnergy settles after failing to block Cayman winding-up petition

An oil and gas group pursuing a Singaporean scheme, KrisEnergy, has reached a settlement with a creditor that brought a Cayman winding-up petition against its Thai subsidiary, after failing to secure an injunction on the petition.

30 November 2020

BDO denied Cayman injunction on New York fraud litigation

A Cayman Islands court has refused advisory firm BDO leave to seek an injunction on proceedings in New York, where it is accused of failing to uncover fraud committed against a now-insolvent client.

27 November 2020

Hong Kong court addresses “difficulties” posed by offshore company structures

A Hong Kong court has adjourned a winding-up petition against a Cayman-incorporated juice company hoping to restructure in the Chinese mainland, as the petitioner failed to show it could realise the value of the company’s listing in Hong Kong.

19 November 2020

Hong Kong miner’s winding-up hearing adjourned amid share dispute

A Hong Kong court has adjourned a winding-up petition against an international mining company for a second time, raising concerns over shareholders’ attempts to convert an equity contribution into a debt claim.

17 November 2020

KrisEnergy to call Singapore scheme meeting

Cayman-incorporated oil and gas company KrisEnergy has won a Singapore court’s permission to convene a creditors’ meeting on local a scheme of arrangement, which will be overseen by AJ Capital Advisory as managers.

17 November 2020

New restructuring co-chair for Schulte Roth & Zabel

Schulte Roth & Zabel has hired a new co-head for its business reorganisation group, who says he is going to help build the firm’s fund relationships and continue to grow its debtor-side practice.

06 November 2020

Cayman court appoints “soft-touch” JPLs to block Hong Kong winding-up

A Cayman court has accepted a Chinese plastic manufacturer’s request to enter provisional liquidation on a “soft-touch” basis, so that it could see off official liquidation in Hong Kong.

05 November 2020

Pacific Drilling enters Chapter 11 again

Luxembourg and Houston-based drilling ship contractor Pacific Drilling and 18 of its domestic and international subsidiaries have filed voluntary petitions for a speedy pre-packaged Chapter 11 restructuring in the Southern District of Texas, three years on from the group’s last bankruptcy.

02 November 2020

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