A former subsidiary of Russia’s Sberbank has asked a US court to help it obtain discovery from Houlihan Lokey for use in Maltese litigation it launched last year, claiming it is the victim of a scheme to “fraudulently remove” it from the ownership of restructured Croatian conglomerate Agrokor.
22 February 2024
The owners of Ukrainian grain terminal operator GNT Group have failed to overturn a worldwide freezing order issued against them by an English court last year at the request of security trustee Madison Pacific Trust, which is pursuing enforcement action against the pair in the UK, Ukraine, Cyprus, Switzerland and Dubai.
12 February 2024
Two shareholders of UAE investment group KBBO have secured UK recognition of their Abu Dhabi personal bankruptcies, after an English judge found a Dubai court’s refusal to recognise the proceedings under the Model Law in 2022 had “no relevance” to the application in the UK.
31 January 2024
A former Allen & Overy partner who advised US aluminium manufacturer Alcoa on the 2020 restructuring of one of its Saudi joint ventures has re-joined the firm after 11 years as Freshfields’ head of finance in the MENA region.
10 January 2024
UAE-owned bank Invest Bank tapped Freshfields for a restructuring completed at the tail end of last year, which included a first-of-its-kind guarantee from the Sharjah government for a loan and asset portfolio.
04 January 2024
Separate, multibillion-dollar claims brought by the Abu Dhabi Commercial Bank and NMC group’s administrators against its former CFO are headed for a joint trial, following a pair of decisions from a court in Abu Dhabi’s financial freezone that show the extent of multijurisdictional litigation arising from the healthcare provider’s collapse.
02 January 2024
Earlier this year, Alvarez & Marsal, Dechert and GRR hosted a panel of distinguished advisers and investors in Dubai to examine what the future holds for the burgeoning restructuring market in the Middle East. We asked where the distressed investment opportunities lie, what challenges parties face in exploiting them, and whether the local onshore and offshore regimes can handle complex, cross-border cases?
21 December 2023
A British Virgin Islands judge has issued an injunction against two locally incorporated cryptocurrency issuers and allowed a Dubai-based gold broker to serve an unknown party, who allegedly stole $3 million in cryptocurrency from him, via a non-fungible token.
21 December 2023
Dubai government-owned bank Emirates NBD has won a summary judgment in Jersey recognising and enforcing a Dubai court order against a UAE national, as it gears up for a so-called “Pauline” claim trial in January.
13 December 2023
A court in Abu Dhabi’s financial freezone has ordered two UAE pharmaceutical companies and EY’s Middle East arm to turn over documents to the administrators of three NMC entities who are investigating the “extensive fraud and substantial financial irregularities” that caused the NMC group’s collapse.
08 December 2023
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