Regional news: India

AZB & Partners expands in Mumbai

India’s AZB & Partners has hired a new partner in Mumbai, who joins the firm after almost nine years at L&L Partners.

17 June 2021

Intu administrators given greenlight to pay creditors

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021

Construction group winds down after Greensill collapse scuppers refinancing

A prefabricated construction company and former Greensill client with factories in the US, India and Saudi Arabia has entered Chapter 11 in Texas to sell off its assets and wind down, with the help of a US$35 million debtor-in-possession promissory note from a UK-based Softbank entity.

15 June 2021

Indian conglomerate secures English scheme meeting

A Dutch subsidiary of Indian multinational conglomerate Jain Irrigation Systems has won permission to poll creditors on its English scheme of arrangement while the group seeks a connected restructuring in India.

14 June 2021

Baker McKenzie guiding Indian conglomerate’s English scheme

A Dutch subsidiary of an Indian multinational conglomerate is pursuing an English scheme of arrangement to restructure Singapore-listed notes, with Baker McKenzie and Kirkland & Ellis both taking roles.

10 June 2021

Indian Supreme Court upholds liability of personal guarantors

The Indian Supreme Court has upheld new rules in the Bankruptcy Code allowing banks and financial institution creditors to pursue insolvency proceedings against personal guarantors to corporate debtors.

28 May 2021

Force India sponsor loses High Court appeal

A former sponsor of Formula One team Force India, Austrian water treatment company BWT Aktiengesellschaft, has been barred on appeal from submitting part of its proof of debt claim in the team’s UK liquidation.

20 May 2021

Pre-pack framework heralds next phase of India’s bankruptcy evolution

“Crisis creates an opportunity for reforms.” EY partner Pulkit Gupta and senior associate Utkarsh Goel discuss the flexibility of India’s new pre-pack framework, which they say could prove invaluable in helping to deal with an expected wave of covid-related distress in the coming months.

30 April 2021

Enyo hires from Eversheds following Greensill’s UK recognition

Just weeks after helping the German administrator of Greensill Bank secure recognition in the UK, Eversheds Sutherland partner Jamie Leader has left the firm for Enyo Law.

26 April 2021

Cryptocurrency is property, rules Canadian court

In the first Canadian case of its kind, cryptocurrency has been recognised as “property” under the country’s Business and Insolvency Act.

14 April 2021

Unlock unlimited access to all Global Restructuring Review content