Notes trustee Citicorp International has been substituted as the petitioner in a winding up motion against Chinese property developer Kaisa Group, while Evergrande’s liquidators have appointed Clifford Chance as its legal advisers.
08 March 2024
The liquidators of a Singaporean commodities trader have failed in their attempts to account for a crossclaim the debtor had against its Hong Kong parent when the latter lodged a proof of debt in its winding-up – but they have been given the green light to make claims in the parent’s foreign liquidation.
07 March 2024
UPDATED: Vietnamese real estate developer No Va Land has retained Sidley Austin, BlackOak and YKVN to advise it on the restructuring of a tranche of convertible bonds through what will be the first pre-pack scheme for a foreign company in Singapore.
06 March 2024
McDermott International’s contested English restructuring would have gone to mediation and would likely have resulted in a settlement if it was playing out in the US, according to a former bankruptcy judge who acted as an expert in the case.
27 February 2024
Singaporean judges have interpreted new parts of the city-state’s 2018 Insolvency, Restructuring and Dissolution Act within days of each other – ruling on how the courts should approach requests to extend judicial management proceedings in the face of creditor opposition, and clarifying in what circumstances parties need to seek permission to appeal.
23 February 2024
The liquidators of five affiliated British Virgin Islands shell companies connected with scandal-ridden Malaysian sovereign wealth fund 1MDB have filed for recognition in Miami, adding to at least 12 offshore vehicles that have already petitioned the same court.
21 February 2024
Bond trustee service provider GLAS has failed to secure a summary judgment against Chinese fashion conglomerate Shandong Ruyi after an English judge allowed the group an extension of time to file a defence and urged a Singapore court to deanonymize a related ruling set to be issued soon so the two jurisdictions can avoid inconsistency.
29 January 2024
Four months after it recognised solvent health and beauty products group Ascentra’s Cayman liquidators, the Singaporean Court of Appeal has lifted the automatic stay at the request of a shareholder the court-appointed officers want to investigate.
25 January 2024
A Chinese construction group has applied to appoint liquidators from the Cayman Islands and Singapore over the holding company of a South Asian pharma group that has failed to pay a mainland judgment debt.
25 January 2024
Singapore-based blockchain technology company Terraform Labs, whose US-dollar pegged stable coin triggered the so-called crypto winter when its value plummeted in 2022, has filed for bankruptcy protection in Delaware as it tries to resolve ongoing litigation in Singapore and the US.
22 January 2024
Unlock unlimited access to all Global Restructuring Review content