Regional news: Israel

English court sanctions ED&F Man’s scheme

An English court has sanctioned a scheme of arrangement for international commodity trader ED&F Man, paving the way for it to restructure debts governed by English and New York law.

09 September 2020

Creditors approve ED&F Man’s UK scheme

International commodity trader ED&F Man has secured unanimous backing for its UK scheme of arrangement during two creditors’ meetings.

02 September 2020

Clifford Chance, A&O and Akin Gump advising on commodity trader’s UK scheme

An international commodity trader has secured court approval to convene meetings for its creditors to vote on a UK scheme of arrangement, with Clifford Chance, A&O and Akin Gump taking roles.

11 August 2020

English court rejects second IVA after good faith breach

An English judge has ordered a British property tycoon into bankruptcy after four years of proceedings, refusing to adjourn for his second proposed individual voluntary arrangement where the largest creditor would be voting for an outcome it had little interest in.

17 July 2019

Advertising tech company’s bankruptcy gets Chapter 15 recognition

Ernst & Young has obtained Chapter 15 protection for a Toronto-based advertising technology company, which it said was hit by Facebook’s deletion of over a billion fake accounts.

21 June 2019

Kaupthing barred from IVA vote

The English Court of Appeal has voided a British property developer’s individual voluntary arrangement after finding former Icelandic bank Kaupthing should not have been permitted to vote on it.

31 July 2018

Canadian court declines to approve settlement in Urbancorp case

Canadian construction group Urbancorp’s (UCI) Israeli foreign representative has failed to secure an Ontario court’s approval for a settlement that the group entered with private equity investor Terra Firma Capital over a Canadian debtor’s estate, after the court found the debtor itself had not been consulted.

21 May 2018

Delaware court dismisses attempts to block Israeli negligence claim

The liquidators of a Delaware-incorporated company in an “upside down” Chapter 15 case are free to pursue a negligence lawsuit against its former directors in Israel, after a US bankruptcy court dismissed attempts to bar the claim.

12 February 2018

US court withdraws contempt order against Israeli law firm in Ampal dispute

A New York bankruptcy court has vacated a contempt order it issued against an Israeli law firm last month, ruling that it lacked personal jurisdiction over the firm under New York’s civil practice regulations.

07 November 2017

Liquidators of alleged Australian-Israeli tax evasion scheme seek US relief

The liquidators of four companies alleged to have been used to conceal the wealth amassed by an Australian family through a lucrative juice business have sought assistance from US courts under Chapter 15.

15 May 2017

Get unlimited access to all Global Restructuring Review content