Regional news: Scotland

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

DLA Piper advising as UK department store Beales collapses

DLA Piper is acting for KPMG as joint administrators of UK department store Beales, which has become the latest victim of the “tough” retail climate.

21 January 2020

Two dissolved Scottish companies to face IP lawsuit in Texas

A Scottish court has agreed to restore two liquidated engineering companies so they can properly face a host of civil claims brought against them in the United States.

13 January 2020

UK Supreme Court rejects Scottish property sale as "not justified" under insolvency law

The UK Supreme Court has ruled that the off-market sale of an insolvent Scottish logistics company’s place of business was not justified on the ground of urgency.

04 December 2019

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