Regional news: Jersey

Ashurst and White & Case advise as African diamond miner cuts creditor deal

A Jersey-incorporated group that operates African diamond mines has agreed a debt-for-equity restructuring with creditors, which it plans to carry out through a scheme of arrangement in England.

22 October 2020

Universality and comity: the Royal Court of Jersey and Lydian International

Partner Stephen Alexander and associate Max Galt of Mourant Ozannes in Jersey acted for Canada-headquartered Lydian International in an application before the Royal Court seeking cross-border insolvency assistance in aid of proceedings before the Ontario Superior Court of Justice. They explain why universality and comity principles underpinned the Royal Court’s 9 October decision.

21 October 2020

Should Jersey have a corporate rescue regime?

Partner Stephen Alexander and associate Max Galt at Mourant in Jersey set out why a traditionally creditor-friendly offshore jurisdiction like Jersey, with its commercially minded and flexible Royal Court, would still benefit from introducing a statutory reorganisation process.

24 September 2020

English court prevents service on Panamanian investor

An English court has barred the liquidator of a local investment vehicle from serving a preference application on Panama-incorporated investor Holyoak, finding his claim did not have a “reasonable prospect of success”.

15 April 2020

Lebara completes restructuring

Six months after bondholders took control of the company through a “ground-breaking” coercive share pledge enforcement, UK telecoms group Lebara has completed its capital restructuring.

16 January 2020

Gold miner files for bankruptcy in Canada as Armenia arbitration looms

A Jersey-registered gold miner has filed for bankruptcy protection in Canada as it weighs up an investment treaty arbitration against the Armenian government.

06 January 2020

BVI court issues first judgment on pooling liquidations

The estates of three companies tied up in a “substantial fraud” allegedly carried out by São Paulo’s former mayor can be pooled, a British Virgin Islands court has ruled, in the first published judgment of its kind.

10 December 2019

CVR Global opens Jersey office after Moore Stephens acquisition

Advisory firm CVR Global has opened its third offshore office after acquiring the Moore Stephens restructuring and insolvency team in Jersey.

20 August 2019

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

Norwegian driller restructures in Jersey

Akin Gump Strauss Hauer & Feld and Houlihan Lokey are advising Connecticut-based fund SVP Global on the distressed acquisition of a Norwegian oil driller.

27 June 2019

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