Regional news: Cyprus

Quantuma sold to UK advisory firm

UK advisory firm K3 Capital has acquired corporate recovery specialist Quantuma, which has offices in the UK, Cyprus and Mauritius.

03 August 2020

CVR Global hires Deloitte BVI head as partner

Advisory firm CVR Global has hired a joint liquidator of Panama Papers leak victim Mossack Fonseca from Deloitte in the British Virgin Islands.

12 July 2019

New York court upholds Yukos buyer’s Chapter 11 plan

A US shareholder has failed to overturn a restructuring plan for a Luxembourg-registered vehicle set up to buy the financial services arm of bankrupt Russian oil giant Yukos.

17 October 2018

Skadden helps container company complete debt refinancing

Skadden Arps Slate Meagher & Flom, Morgan Lewis & Bockius and Watson Farley & Williams have guided container company Danaos through an out-of-court refinancing of its US$2.2 billion debt.

17 August 2018

EU off the hook over Cypriot bailout discrimination claim

Depositors in Cypriot banks bailed out by the European Union in 2012 have failed in their claim that the terms of that bailout were discriminatory.

19 July 2018

Cyprus defeats bank bailout claim

Cyprus has prevailed in the first of several investment treaty arbitrations arising from its debt crisis, after a tribunal at the Stockholm Chamber of Commerce ruled that a haircut imposed on deposits at the Bank of Cyprus did not amount to unlawful expropriation.

28 February 2017

New York Court approves Cypriot shipper’s liquidation

A New York court has approved the Chapter 11 plan of Cyprus-registered shipping firm Primorsk, giving a green light to the company to disperse the proceeds of a recent tanker fleet sale and wind down.

23 September 2016

Creditors to vote on Primorsk’s liquidation plan following ship sale

A New York bankruptcy court has given a green light to Cyprus-registered shipping company Primorsk International to begin canvassing votes on a liquidation plan, after restructuring negotiations with senior lenders broke down earlier this year.

26 August 2016

Vantage Drilling files 24 Chapter 11 cases with restructuring plan

Two dozen international subsidiaries of a Cayman Islands-based driller have filed for Chapter 11 protection, blaming the oil price collapse and links to scandalised Brazilian state oil company Petrobras for their woes.

11 December 2015

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