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
Chinese coal mining group Hidili Industry International Development has secured Chapter 15 recognition of a Hong Kong scheme dealing with US$400 million of New York law-governed notes, as part of a wider restructuring that covers its onshore liabilities.
14 July 2022
Deciding an “important jurisdictional point”, the Grand Court of the Cayman Islands has granted declaratory relief to the joint official liquidators of a Dubai-headquartered geophysical company, despite the absence of any direct authority.
14 July 2022
Reinforcing its request for US recognition of its Cayman scheme, struggling Chinese property developer Modern Land has told a New York court that it may be forced to enter a “value-destructive” liquidation if its motion is denied.
13 July 2022
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