Regional news: Gibraltar

Gibraltar court finds “arguable case” for jurisdiction over Scotsman in Spain

A Gibraltarian court has granted permission for the service of a statutory demand on a Scottish businessman residing in Spain, saying it may claim jurisdiction to declare the recipient bankrupt if the demand is ignored.

17 January 2017

Peabody gains approval of Chapter 11 plan amid creditor objections

US-Australian coal company Peabody has garnered “substantial support” among creditors for a plan to slash its US$8 billion debt that was submitted to a US court late last year; though some shareholders claim the plan unfairly coerces investors to agree to its terms.

05 January 2017

Enterprise Insurance to be wound-up in Gibraltar as breach of regulations found

A Gibraltarian court has appointed an official liquidator to wind-up European insurance firm Enterprise Insurance amid evidence of regulatory breaches.

07 November 2016

Gibraltarian recognition opts for EU regulation over new UNCITRAL regime

The Supreme Court of Gibraltar has recognised the liquidation of a web development company in the UK, with liquidators opting to use the European Insolvency Regulation over the peninsula’s brand new legislation based on the UNCITRAL Model Law.

22 September 2016

Gibraltarian court recognises Peabody coal company’s Chapter 11

The Supreme Court of Gibraltar has recognised the Chapter 11 proceedings of Peabody, the world’s largest private coal company, as a foreign main proceeding, in the first test of a new Gibraltarian law.

16 September 2016

Gibraltar court appoints Grant Thornton liquidator for European insurer

The Supreme Court of Gibraltar has appointed a Grant Thornton managing director as provisional liquidator to wind up an insurance company with contracts across Europe.

28 July 2016

World’s largest coal company to test new Gibraltarian bankruptcy law

Peabody, the world’s largest private coal producer, has applied for recognition of its US bankruptcy proceedings in the British Overseas Territory of Gibraltar, in what is the first test of the peninsula’s new cross-border insolvency regime.

22 June 2016

Solicitor fails to lift stay on UK proceedings for bankrupt Gibraltar insurer

The Court of Appeal of England and Wales has refused a UK solicitor’s attempt to lift the automatic stay on proceedings imposed after a Gibraltar insurance company's liquidation was recognised in England.

27 May 2016

Madoff judgment from New York unenforceable in Gibraltar

One of the highest courts of the UK has found that a foreign default judgment can be enforced under English common law without express agreement to the jurisdiction of the issuing court – but prevented the trustee of Bernard Madoff’s Ponzi estate from enforcing a New York court decision against an investment fund in Gibraltar.

19 February 2016

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