Topic: Administration
INSOL International, New Delhi: does Instagram make asset tracing easier?
Is the current class of unscrupulous businessmen and women worried more about likes than the law? At INSOL International’s first in-person event in India since the start of the covid pandemic, practitioners discussed cross-border asset tracing in India and whether discretion is a dying art among fraudsters.
27 March 2023
Antigua’s automatic stay is constitutional, appeal court rules
An amendment to Antigua and Barbuda’s Companies Act that imposes an automatic stay on judicial action against companies that enter administration is not unconstitutional, a Caribbean appeal court has ruled.
24 March 2023
SVB’s parent spars with FDIC over “improper” freezing of US$2.1 billion
Chapter 11 lawyers for the parent company of collapsed Silicon Valley Bank have hit out against “improper actions” taken by a US financial regulator that they claim have blocked its access to accounts containing more than US$2.1 billion.
22 March 2023
Financial Restructuring MENA, Abu Dhabi: a wish list for the future
Specialist insolvency judges, greater clarity on the priority status of new money and better understanding and cooperation between onshore and offshore regimes: speakers from law and advisory firms, funds and banks in the Middle East provided food for thought for future restructuring reforms in the UAE and Saudi Arabia.
16 March 2023
Galapagos declaratory trial kicks off in London
A two-week trial is under way in London to consider the validity of the Galapagos group’s heavily contested 2019 restructuring, which left its private equity shareholder in place and high yield noteholders with nothing – and a German insolvency administrator has already asked the court not to make any findings of fact because they could result in inconsistent rulings across Europe.
10 March 2023
English court approves securities transfer in UK’s first-ever unsecured credit bid
The English High Court has approved what is believed to be the first-ever unsecured credit bid for an insolvent company’s assets in the UK, in a case the judge described as “remarkable” at a two-day hearing last week.
02 March 2023
Noor Capital seeks to purge NMC Healthcare contempt of court charges
After admitting they took steps against Middle Eastern healthcare group NMC in Dubai that were in breach of an Abu Dhabi Global Market anti-enforcement order, financial broker Noor Capital and its chairman have sought to purge contempt of court charges against them.
02 March 2023
E.ON, British Gas and Scottish Power ask English court to unwind Bulb transfer
Three of the UK’s largest energy suppliers have asked the English High Court to review Bulb Energy's sale to rival Octopus, arguing the bidding process in the country’s first-ever special energy supply company administration was “fundamentally unfair”.
01 March 2023
B Riley acquires Farber’s corporate arm in Canada
Los Angeles-headquartered financial services platform B Riley Financial has expanded into Canada after acquiring Toronto-headquartered restructuring and advisory firm Farber’s corporate arm.
27 February 2023
Administrators’ costs face scrutiny in UK’s first special energy administration
An English judge has adjourned two costs applications by administrators appointed in the UK’s first-ever energy supply company administration so an independent insolvency practitioner can scrutinise their work.
24 February 2023