Regional news: United Arab Emirates

Cayman liquidators of Kuwaiti family group turn to New York for answers

A pair of Cayman liquidators overseeing the winding up of a Kuwaiti family’s investment vehicle are seeking recognition in the US to take discovery from multiple parties including US law firms and international banks, who they believe might shed light on tens of millions of dollars transferred out of the group several years ago.

13 October 2021

Quantuma expands into the Middle East

Eight months after launching its first Cayman Islands office, UK-headquartered Quantuma has expanded its international footprint again with a new office in Dubai.

10 September 2021

McLeod Russel secures appeal against Indian insolvency

The chairman of global tea producer McLeod Russel India has won an appeal hearing against a National Company Law Tribunal order that placed the company into an insolvency process earlier this month.

27 August 2021

NMC group update reveals creditor vote date

The NMC group has announced it will hold meetings of creditors for its 35 deeds of company arrangement on 1 September, in a detailed update also noting the various proceedings it has been pursuing - and fighting - in onshore and offshore courts across the UAE.

13 August 2021

NCLTea: Global tea producer forced into insolvency proceedings

India’s National Company Law Tribunal has accepted a creditor’s corporate insolvency resolution application against the world’s largest tea grower, after the company defaulted on a loan agreement.

09 August 2021

Teneo hires new valuation head in London

Two months after acquiring Deloitte’s UK restructuring arm, New York-headquartered advisory firm Teneo has hired Alvarez & Marsal managing director Martin Drummond to lead its valuation advisory practice in London.

30 July 2021

Latham & Watkins re-hires partner in Dubai

Latham & Watkins has re-hired a partner in Dubai after he spent four years in-house at Dubai Holding, the global investment company of the Emirate's ruler.

26 July 2021

GÖRG partner appointed over kitchenware company

Germany-based kitchenware company Neue Alno has filed for insolvency for the second time in four years, with GÖRG partner Holger Leichtle appointed as provisional trustee.

19 July 2021

NMC Healthcare administrators prep for London arbitration

NMC Healthcare’s ADGM administrators and Dubai Islamic Bank have agreed to a London arbitration to resolve their disputes over insurance receivables the bank claims it is entitled to as security.

16 July 2021

Reasons published for NMC Healthcare’s UK recognition

Sir Alastair Norris has released his reasons for recognising NMC Healthcare’s Abu Dhabi administrations as foreign main proceedings, and for imposing a moratorium to bind secured creditors.

01 July 2021

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