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The Hong Kong Court of Appeal has upheld a lower court’s refusal to block the winding-up of a mainland Chinese conglomerate – but overturned its ruling on the requirements for winding-up foreign companies.
07 August 2020
A Cayman Islands court has dismissed a winding-up petition against a locally incorporated investment manager, despite a Hong Kong court issuing a winding-up order against the guarantor of the company’s debt.
06 August 2020
Argentine lawyers are buoyant that the government’s two-day old deal with holders of the country’s foreign bonds will get the required approval numbers, and mark the country’s return to international capital markets.
06 August 2020
Courts in the Cayman Islands, Bermuda and the British Virgin Islands have appointed “light touch” joint provisional liquidators over Chinese fertiliser company Century Sunshine Group.
05 August 2020
Ecuador has defeated an injunction request by a “small minority” of bondholders seeking to block its tender for a US$17.4 billion sovereign bond restructuring, ahead of a securities fraud action.
04 August 2020
London-headquartered offshore drilling contractor Noble Corporation has filed Chapter 11 proceedings in Texas, after entering a US$3.4 billion restructuring agreement with two ad hoc groups of its bondholders.
03 August 2020
A US investment fund holding Ecuadorian sovereign bonds is leading a class action in which it is urgently trying to halt the state’s recent tender aiming to restructure US$17.38 billion in debt.
31 July 2020
The parent company of women’s clothes retailer Ann Taylor has secured several first-day orders in its Chapter 11 proceedings in Virginia, with Kirkland & Ellis and Cooley advising.
30 July 2020
A Brazilian court has approved a restructuring plan for non-operating companies in Brazil’s Odebrecht group, which will see it pay creditors with the proceeds of asset sales and new, profit-sharing securities.
29 July 2020
A Bermudian court has extended a Mareva injunction against a locally-registered commodities trader, finding there was a risk of dissipation of its only realisable asset – a claim in the South African restructuring of a coal mine formerly owned by the Gupta family.
27 July 2020
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