Regional news: Latin America & Caribbean
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
Gibraltar court throws out St Vincent conspiracy claim
A Gibraltarian businessman who accuses his former lawyer of liquidating his company in the Caribbean to frustrate breach of legal privilege proceedings against her, will not have his claims heard locally, after a court found it lacked jurisdiction to hear his conspiracy tort.
20 October 2020
Failure to notify floating charge holder does not void administration, English court rules
An English court has ruled that a failure to notify a floating charge holder of an administration does not invalidate the proceedings, after considering conflicting case law on the issue.
16 October 2020
Avianca, LATAM secure court approval for DIP financings
Multiple international and Latin American law firms have helped Colombian-Panamanian airline Avianca and Chile’s LATAM get court approval for debtor-in-possession financings worth more than US$4 billion, weeks after LATAM’s new money deal was initially rejected.
14 October 2020
BVI court blocks receivers from replacing Japanese company’s directors
The receivers of a BVI investment company have been prevented from replacing the directors of its Japanese subsidiary, after a local court found a Singaporean investor could not apply on their behalf.
14 October 2020
AHAB and Saad settle multi-billion-dollar fraud claims
Saudi conglomerates Ahmad Hamad Al-Gosaibi & Brothers and Saad Group have settled billions of dollars’ worth of fraud claims against each other, following a decade-long dispute in the Cayman Islands.
13 October 2020
Altair Asia: Cayman court declines to follow Hong Kong ruling
In a rare example of judicial comity being sidelined in a cross-border insolvency, the Cayman Islands Grand Court has declined to follow an earlier ruling of the High Court of Hong Kong. Harneys partner Jessica Williams and associate Mark Burrows examine the case of Altair Asia.
13 October 2020
Kobre & Kim hires Walkers insolvency head in Hong Kong
Kobre & Kim has hired the head of Walkers’ insolvency and dispute resolution group in Hong Kong, a partner with credits in the Saad liquidation and the Winsway restructuring.
08 October 2020
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