Regional news: Latin America & Caribbean
Singapore Mareva injunction upheld against Cayman holding company
A Singapore court has upheld a Mareva injunction issued against a Cayman holding company and its Canadian director, rejecting challenges to its jurisdiction over a foreign law dispute.
04 January 2021
Brazilian extension applications are “collective proceedings” under UK’s Model Law
A Brazilian judicial administrator who has been trying to extend a dairy company’s bankruptcy to two related entities for some years, has had those extension proceedings recognised as “collective proceedings” under the UK’s version of the UNCITRAL Model Law.
22 December 2020
Ashurst advising as Norwegian oil services group secures scheme meeting
The holding company for a Norwegian seismic imaging group has secured a single meeting for some of its creditors to vote on an English scheme restructuring US$872 million of debt.
21 December 2020
Fairfield avoidance claims dismissed in New York
A New York court has thrown out avoidance claims brought by the BVI liquidators of three Madoff funds against their shareholders, but allowed them to continue with constructive trust claims under BVI common law.
17 December 2020
African diamond miner and Bermudian insurer seek recognition in New York
An English subsidiary of an African diamond miner has sought recognition of its scheme proceedings in New York, two weeks after the joint provisional liquidators of a Bermudian insurance company also filed Chapter 15 proceedings in the city.
16 December 2020
Dutch subsea services provider wins UK restructuring plan meetings
Netherlands-registered subsea services provider DeepOcean Group has secured meetings for four classes of creditors to vote on its UK restructuring plans, which could lead to the first cross-class cram down challenge at a sanction hearing next month.
15 December 2020
Century Sunshine’s Cayman JPLs secure Singapore recognition
BlackOak is advising the “light-touch” provisional liquidators of Chinese fertiliser company Century Sunshine Group, who have won recognition in Singapore to seek a restructuring of locally-listed notes.
15 December 2020
PwC appointed as Cayman court winds up Altair
A British Virgin Islands investor has secured the winding-up of Hong Kong-based investment manager Altair Asia in the Cayman Islands, five months after its first attempt to obtain an order was dismissed.
14 December 2020
Rock International scheme sanctioned in BVI and recognised in US
A Texas court has recognised a British Virgin Islands scheme of arrangement for special purpose vehicle Rock International Investments, a day after it was sanctioned.
14 December 2020
Ogier adds new partners in Hong Kong and Guernsey
Offshore firm Ogier has boosted its global restructuring offering with the appointment of three news partners in Hong Kong and Guernsey.
14 December 2020
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