Regional news: North America
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
Takata class action settlement approved in Canada
More than two years after Japanese auto parts company Takata exited bankruptcy in the US and Japan, car manufacturers that used its faulty air bags have reached a settlement with class action plaintiffs in Canada.
04 January 2021
Arthur Cox and Matheson acting as Arcadia companies wound up in Ireland
Deloitte partner Ken Fennel and director James Anderson have been formally appointed as the joint liquidators of four Arcadia group operating companies in Ireland, while its Evans brand has been sold to an Australia-listed retailer.
22 December 2020
French car rental company seeks safeguard’s recognition in New York
Three days after it entered accelerated financial safeguard proceedings in France to implement a restructuring agreed last month, car rental firm Europcar is seeking Chapter 15 recognition of the case in New York.
21 December 2020
Heated debate as Galapagos jurisdictional wrangles exchanged
A Luxembourg fund and a German insolvency administrator that are challenging the Galapagos group’s 2019 UK restructuring in the US and Europe, have laid out before an English court why they shouldn’t be joined in a claim for declaratory relief that the restructuring was valid.
18 December 2020
Swissport enters pre-pack administration as English court accepts COMI shift
AlixPartners directors have been appointed as administrators of Swissport’s Luxembourg-incorporated parent company, after the High Court in London accepted it had shifted its centre of main interests to England and Wales.
18 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
Community roundup: IWIRC gets its first Hispanic chair amid new year hires and promotions
The International Women’s Insolvency and Restructuring Confederation will have its first Hispanic chair come 1 January, as a Dutch firm hires from Loyens & Loeff, and Vinson & Elkins and Cooley promote in New York.
16 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
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
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