Regional news: Scotland

European companies seek US protection

A century-old Mainz-headquartered bank has secured recognition of its German liquidation in Delaware, paving the way for it to sell a portfolio of US life insurance policies, while the Scottish bankruptcy trustee of a former BBC executive’s estate and a Polish digital healthcare company have each sought Chapter 15 protection in Texas.

06 October 2023

Scottish energy company calls in administrators after permitting issues in Nova Scotia

Edinburgh-based Sustainable Marine Energy has entered administration in England, blaming problems at its Canadian subsidiary caused by its failure to obtain permits from the Canadian government.

18 August 2023

German bank fails to appoint administrators over Luxembourgish landlord in Scotland

Finding no good reason to set up an “unnecessary and undesirable competition” between insolvency practitioners, a Scottish court has denied a request by a German bank to appoint administrators over a commercial landlord that is already in bankruptcy in Luxembourg.

12 June 2023

Gibraltarian appeals court overturns Scotsman’s bankruptcy discharge

The Gibraltarian bankruptcy trustees of a Scottish former hedge fund manager have overturned a lower court order discharging his bankruptcy, after an appeals court found the bankrupt’s failure to comply with his statutory obligations to them went “well beyond” a limited failure to evade service.

19 January 2023

IWIRC launches Scotland network

The International Women’s Insolvency & Restructuring Confederation has launched a new network in Scotland, just four months after it launched in Mexico – its 51st regional network since the confederation was established.

14 March 2022

IBA, Edinburgh: "Plagiarism can be very useful" in drafting new laws

Retired Scottish Court of Session judge Lord Drummond Young told delegates at the International Bar Association’s 26th annual global restructuring conference in Edinburgh that “plagiarism can be very useful” for countries drafting preventative restructuring legislation.

02 December 2021

Gibbs trips Prosafe recognition in Scotland

Norwegian vessel operator Prosafe has failed to obtain recognition of its Singaporean moratoria in Scotland, with a Scottish court reasoning they were akin to schemes that the Gibbs rule prevented from binding an English law-governed debt owed to a Chinese shipbuilder.

27 September 2021

Oslo-listed Prosafe seeks moratorium extension in Singapore

Norwegian vessel operator Prosafe has applied to extend its Singaporean moratorium while its scheme proceedings rumble on.

26 August 2021

Oslo-listed Prosafe taps Clifford Chance and Schjødt for Singapore restructuring

Clifford Chance and Norwegian firm Schjødt are advising Oslo-listed accommodation vessel operator Prosafe in a US$1.1 billion debt restructuring that has so far taken in a moratorium in Singapore and a recognition application in Scotland.

24 June 2021

KPMG promotes in UK deal advisory practice

KPMG has promoted two restructuring advisers to its partnership in Scotland and Northern England.

26 October 2020

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