Topic: Adversary claim

Edu-tech startup’s US arm enters contested Ch11, parent faces Indian CIRP

A US affiliate of Indian edu-tech group Byju has entered Chapter 11 to pursue a hedge fund apparently registered to a Florida fast food restaurant for over US$500 million, as the group’s parent faces an insolvency petition in India from GLAS.

06 February 2024

Mourant seeks to wind up Texas oil group over unpaid fees

Mourant has asked a Cayman Islands court to wind up an international oil and gas group’s Cayman parent in a long-running and hotly contested dispute over unpaid fees, which it argues the group hasn’t paid since 2019.

04 December 2023

US court dismisses TV Azteca involuntary Ch11

Noteholders of the Mexican broadcaster TV Azteca have had their involuntary Chapter 11 filed against it dismissed, after a New York court found their claims were subject to a bona fide dispute, a week after a court-ordered mediation failed.

22 November 2023

Intelsat competitor seeks damages in reopened Chapter 11

Luxembourg-based satellite group SES Americom has asked a US bankruptcy judge to admit breach of contract claims it holds against its competitor Intelsat in the latter’s Chapter 11 restructuring, which has been reopened after it closed in February last year.

11 October 2023

Applying foreign law is unnecessary to determine validity of foreign rep’s appointment, New York court says

A Bulgarian agricultural group has secured Chapter 15 recognition of its local insolvency proceedings, after a New York court dismissed a US commodities futures merchant’s opposition, holding it didn’t need to apply foreign law to determine whether a foreign representative was validly appointed.

28 July 2023

Orpea unsecured creditors seek “tailored” discovery in the US

Some of care home operator Orpea’s international creditors have brought their fight against its French restructuring to Delaware, where they are seeking discovery from a member of a steering committee they allege will be “arbitrarily enriched” to the detriment of other creditors and equity investors.

22 June 2023

Bedzhamov battles Russian trustee again for permission to sell Belgravia properties

The bankrupt former owner of Russia’s Vneshprombank has again asked an English Court to let him sell two London properties for his legal and living expenses, as his Moscow-based bankruptcy trustee tries to block the deal ahead of a UK Supreme Court hearing in November.

30 May 2023

Freshfields advising as Danish shipping group secures Ch15 relief in Delaware

The Danish bankruptcy trustees of a shipping group that provides services to the offshore wind industry have secured recognition in the US, blocking creditor action brought against it over a failed joint venture.

18 April 2023

KPMG, Goldman Sachs and Morgan Stanley facing SVB investor class action

Silicon Valley Bank’s directors, auditors and underwriters are facing a new class action lawsuit brought by two pension funds and an employee benefit scheme, who claim they bought SVB stock at “artificially inflated prices” as a result of the collapsed bank misrepresenting the strength of its balance sheet.

11 April 2023

FTX sues Bahamian liquidators over property ownership

Collapsed crypto exchange FTX is suing the liquidators of its Bahamian affiliate FTX Digital Markets in response to what it says are “serial threats” to try and relocate the group’s Chapter 11 bankruptcy to The Bahamas.

22 March 2023

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