Regional news: Latin America & Caribbean

BVI court adjourns liquidator appointment over foreign revenue debts

A British Virgin Islands court has adjourned its decision on whether to appoint liquidators over a BVI company that is being wound up in England, citing several “uncertainties” that need to be ironed out.

16 November 2020

B Riley opens in Mexico

B Riley Advisory Services, which formally completed a merger with turnaround firm GlassRatner this year, has opened a new office in Mexico in partnership with Brazil’s TCP Partners.

12 November 2020

New restructuring co-chair for Schulte Roth & Zabel

Schulte Roth & Zabel has hired a new co-head for its business reorganisation group, who says he is going to help build the firm’s fund relationships and continue to grow its debtor-side practice.

06 November 2020

Cayman court appoints “soft-touch” JPLs to block Hong Kong winding-up

A Cayman court has accepted a Chinese plastic manufacturer’s request to enter provisional liquidation on a “soft-touch” basis, so that it could see off official liquidation in Hong Kong.

05 November 2020

Bermudian insurer’s provisional liquidators look to seize US investments

The Bermudian provisional liquidators of an insolvent insurance company have requested Chapter 15 recognition of their appointment in Florida, seeking to take control of its US assets following regulatory breaches at the company.

04 November 2020

Proskauer Rose dodges Antiguan Ponzi claim

Antiguan liquidators have been prevented from serving a claim on Proskauer Rose in the US, after a Caribbean appeal court said allegations the firm failed to stop the Stanford International Bank Ponzi scheme, could not be tried locally.

03 November 2020

Pacific Drilling enters Chapter 11 again

Luxembourg and Houston-based drilling ship contractor Pacific Drilling and 18 of its domestic and international subsidiaries have filed voluntary petitions for a speedy pre-packaged Chapter 11 restructuring in the Southern District of Texas, three years on from the group’s last bankruptcy.

02 November 2020

Privy Council winds-up BVI company on deadlock grounds

The UK Privy Council has wound-up a BVI holding company due to a “functional deadlock” in its management, finding the order could be made regardless of whether the company constituted a quasi-partnership.

02 November 2020

Hong Kong court allows Shandong Shanshui employees to pursue EY receivers

Five employees of China’s Shandong Shanshui Cement Group have won retrospective permission to bring claims against receivers from EY, following a ruling in Hong Kong.

30 October 2020

Deloitte appointed liquidators of Wirecard’s Irish arm, US business sold

Joint provisional liquidators have been appointed over the Irish arm of scandal-hit German payments processor Wirecard, while a US holding company backed by Centerbridge and Bain Capital has bought its North American business.

29 October 2020

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