Regional news: International

In what is thought to be the first application for recognition of an Isle of Man voluntary liquidation in the US, an Africa-focused private jet operator's liquidator has filed a Chapter 15 in Oklahoma to stall a local litigation and try to access escrow funds.

14 January 2022

Jones Day, Norton Rose Fulbright, Hughes Hubbard & Reed and Harneys have made partner promotions around the world, while Davis Polk & Wardwell has named a new counsel and Cole Schotz has announced new members in North America.

11 January 2022

FTI Consulting has hired a team of restructuring professionals from global consulting firm Protiviti, but lost another to Crowe Cayman.

07 January 2022

Global advisory firm Teneo, which last year bought Deloitte’s UK restructuring business, has acquired the Cayman and British Virgin Islands restructuring arms of KPMG.

06 January 2022

Saudi conglomerate Ahmad Hamad Algosaibi & Brothers has lost its appeal against a Cayman Islands court ruling that found it conspired with its former head of investment to “perpetrate one of the largest Ponzi schemes in history” – bringing an end to over 12 years of litigation.

22 December 2021

Malaysia’s budget flag carrier AirAsia X has secured court approval of its scheme of arrangement, which will see unsecured creditors take a haircut of more than 99%.

17 December 2021

Flag carrier Garuda Indonesia will become the first airline to attempt to restructure via an Indonesian suspension of payments process, as it also plans to launch a simultaneous scheme of arrangement in the English courts.

14 December 2021

A Hong Kong court has wound up a Cayman Islands-incorporated oil and textiles company after no less than six adjournments, finding that its proposed Cayman scheme of arrangement was unfeasible.

13 December 2021

Ashurst has recruited a partner from Norton Rose Fulbright in Sydney, who has experience advising on the restructurings of mining company Arrium and swimwear brand Seafolly.

29 November 2021

Interpath Advisory has hired a managing director with experience working on the liquidation of British travel agent Thomas Cook and the restructuring of Chinese solar-parts manufacturer LDK Solar Co.

25 November 2021