Regional news: Korea, Republic of

Lenders seek receiver as Lycra parent stretched

Hong Kong and Korea-based lenders to Chinese fashion giant Shandong Ruyi have moved to appoint Alvarez & Marsal as receiver over some of its assets, in a bid to take control of its Lycra subsidiary.

24 February 2022

Hong Kong court blocks Spanish cosmetics maker’s winding-up petition

A Spanish cosmetics manufacturer has been prevented from bringing a winding-up petition against a Chinese partner company, after a Hong Kong court found there was evidence of a “genuine and serious” cross-claim following separate arbitration awards last year.

16 March 2021

IWIRC launches Korea network

The International Women’s Insolvency & Restructuring Confederation has launched a new network in Korea, led by AlixPartners director Jungmin Lee and Alvarez & Marsal manager Jiwon Nam.

08 December 2020

Hong Kong court rejects US businessman’s mareva “oppression” protest

A Hong Kong court has upheld a mareva injunction issued against a US businessman, rejecting his arguments that multi-jurisdictional enforcement of a South Korean judgment debt against him amounted to a “campaign of oppression”.

23 October 2020

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