Regional news: Cayman Islands

Texas-headquartered helicopter operator files Chapter 11

Global helicopter services provider Bristow Group has filed for Chapter 11 protection in Texas after entering a restructuring support agreement with senior noteholders last week.

13 May 2019

Appleby promotes Cayman restructuring head to partner

Offshore firm Appleby has promoted the head of its Cayman Islands restructuring team to partner.

26 April 2019

Madoff trustee wins clawback appeal

A US appeals court has ruled that principles of international comity should not stop the trustee of Bernie Madoff’s investment firm recovering assets that he claims were fraudulently transferred to foreign feeder funds.

26 February 2019

Saudi bank fights Saad on limitation grounds

Saudi bank Samba has asked an English appeals court to prevent the joint liquidators of Cayman-incorporated Saad Investments Company (SICL) from amending a share claw-back claim they first filed against the bank in 2013, on grounds of limitation.

12 February 2019

Harneys names restructuring partner to head Singapore office

Offshore firm Harneys has named recently-relocated restructuring partner James Noble as the new head of its Singapore office.

01 February 2019

Dusk for solar company’s Chapter 15

A New York court has closed a Chapter 15 case for the Cayman holding company of Chinese solar energy company Suntech, after its liquidators said they had wrapped up their US business.

30 January 2019

Court confirms “unique status” of insolvency proceedings as Abraaj adjourned

The Cayman Islands Grand Court has adjourned a winding-up petition against private equity investor Abraaj Holdings for a third time, finding the applicant had failed to identify “any immediate, tangible benefit” of an official liquidation.

09 January 2019

Harneys announces New Year promotions

Offshore firm Harneys has announced the promotions of four restructuring and insolvency partners across its BVI, Cayman and Hong Kong offices.

04 January 2019

Irish-US helicopter leaser files Chapter 11 ahead of planned sale

Hiring Weil Gotshal & Manges as counsel, a helicopter leasing company backed by funds of billionaire investors George Soros and Michael Dell has filed for Chapter 11 protection in New York ahead of a planned sale.

26 November 2018

Cayman Islands DIP finance scheme recognised in New York

A novel Cayman Islands’ scheme of arrangement that includes debtor-in-possession rescue financing has been granted Chapter 15 recognition and enforcement in the United States.

13 November 2018

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