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Hong Kong-listed gas group NewOcean Energy has been wound up in Bermuda, less than a year after it appointed soft touch provisional liquidators to help restructure its debts following the collapse of Singaporean oil trader Hin Leong.
05 August 2022
Shadow bank Crédito Real has won a New York court’s approval to transfer its involuntary Chapter 11 case to Delaware, where it sought recognition of its Mexican liquidation last month.
02 August 2022
Harneys partner Peter Ferrer and associate Megan Elms consider why the remedy of just and equitable winding up has been used sparingly by aggrieved shareholders in the British Virgin Islands and England and Wales, but highlight recent decisions that show why it remains an important tool that may be used more liberally by the courts going forward.
01 August 2022
The British Virgin Islands joint liquidators of crypto hedge fund Three Arrows Capital have obtained Chapter 15 recognition in New York, with the court allowing certain secured creditors to enforce their debts.
29 July 2022
Conyers Dill & Pearman partner Jonathon Milne and associate Rowana-Kay Campbell in the Cayman Islands, and partner Anna Lin in Hong Kong, explain why the new Cayman restructuring regime is likely to be a welcome addition to the legislative landscape for prudent directors – particularly in light of current macro-economic conditions and the difficulties many companies are facing.
26 July 2022
With the market reeling after crypto firms Three Arrows Capital, Voyager Digital and Celsius all sought bankruptcy protection in New York earlier this month, local lawyers compare the disarray to the collapse of Lehman Brothers, discuss the many novel legal issues that need to be resolved in the first Chapter 11 cases and predict crypto debtors will struggle to survive without completing M&A deals.
22 July 2022
The UK’s Interpath Advisory has acquired Caribbean-based Kalo Advisors, marking its expanse into three jurisdictions outside the UK in a little under three months.
20 July 2022
The British Virgin Islands joint liquidators of crypto hedge fund Three Arrows Capital have obtained provisional relief in the US and Singapore, as they establish a creditors committee for the liquidation.
20 July 2022
Shadow bank Crédito Real is seeking Chapter 15 recognition of its recently-ordered Mexican liquidation in Delaware to protect its US assets, as it looks to dismiss an involuntary Chapter 11 proceeding launched by creditors in New York last month.
15 July 2022
Chinese property developer Skyfame Realty has applied to appoint light touch provisional liquidators in Bermuda, claiming it is facing “unprecedented liquidity pressure” after trying unsuccessfully to extend its offshore debt.
15 July 2022
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