Regional news: Latin America & Caribbean
Hong Kong court rebukes liquidators, deprives them of remuneration
A textiles group's liquidators and their counsel have been heavily rebuked by a Hong Kong court for forum shopping, breaches of their disclosure duties and for making “serious” misrepresentations to the Cayman court that appointed them.
26 August 2022
Three Arrows Capital secures recognition of BVI liquidation in Singapore
The British Virgin Islands liquidators of collapsed crypto hedge fund Three Arrows Capital have been given the authority to access its financial records and assets held in Singapore.
25 August 2022
Carey Olsen recruits from Harneys in the Cayman Islands
Carey Olsen has hired a senior litigator for its Cayman Islands dispute resolution, litigation and insolvency practice, who tells GRR it is an exciting time for the jurisdiction as its new restructuring officer regime is set to go live at the end of the month.
24 August 2022
Chinese water group unveils restructuring agreement
Cayman Islands-incorporated Ozner Water International and its liquidators have reached a restructuring agreement that will see Hong Kong-based investor iSpring International become the water purification company’s new controlling shareholder.
23 August 2022
Crédito Real’s Mexican liquidation to be appealed
A Mexican judge has permitted an appeal against lender Crédito Real’s domestic liquidation, as it prepares to fight an involuntary Chapter 11 filing in Delaware a month from now.
19 August 2022
Chinese court sanctions restructuring plan for sofa maker
Cayman-registered sofa manufacture Morris Home has received sanction of a restructuring plan in mainland China following financial struggles it blames on US tariffs imposed since 2018.
19 August 2022
Chinese developer Skyfame enters soft touch liquidation in Bermuda
Hong Kong-listed Skyfame Realty has entered provisional liquidation in Bermuda after defaulting on its offshore debt, while fellow property developer Evergrande is facing an investigation after lender banks seized over US$2 billion from its subsidiary earlier this year.
17 August 2022
NewOcean wound up in Hong Kong as Bermuda liquidation appealed
Asian oil and gas group NewOcean Energy has been wound up in Hong Kong, two weeks after creditor bank HSBC won an appeal to have it placed into liquidation in Bermuda.
12 August 2022
Voyager accused of operating “massive” Ponzi scheme in Miami suit
Collapsed crypto network Voyager was a “house of cards, built on false promises and factually impossible representations," according to a class action complaint against US billionaire Mark Cuban and his Dallas Mavericks basketball team, who are accused of encouraging investment in the platform.
11 August 2022
Cayman-registered liquor group wound up in Hong Kong following Global Brands decision
A Chinese alcoholic drinks distributor has been wound up in Hong Kong, after its Cayman liquidators accepted its liquidation should take place in its centre of main interests in line with Mr Justice Harris’ much-talked about decision in Global Brands Holding.
10 August 2022