Rio de Janeiro-headquartered retail giant Americanas has sought New York recognition of its Brazilian judicial recovery proceedings to protects its US assets, two weeks after it disclosed a near four-billion-dollar gap in its balance sheet.
26 January 2023
The Indian government is inviting comments on a suite of proposed reforms to the country’s Insolvency and Bankruptcy Code, from a new electronic case management platform to special rules for real estate developers.
26 January 2023
North American bedding group Serta Simmons has sought bankruptcy protection in Texas, automatically staying a claim brought against it in New York last year by lenders who claim they were robbed of their rights during a refinancing in 2020.
25 January 2023
The Singaporean trustees of a bankrupt Australian businessman have secured recognition of their appointments in Australia so they can investigate his assets after he failed to file a statement of affairs in compliance with Singapore’s insolvency laws.
25 January 2023
An exiled Chinese businessman, who filed for bankruptcy in the US last year claiming to be in “continuous fear” of the Chinese government, has been ordered to disclose documents to his Chapter 11 trustee in relation to a claim he is pursuing against Swiss bank UBS in London.
24 January 2023
Following months of speculation, cryptocurrency lender Genesis has entered Chapter 11 in New York and already filed a plan contemplating a potential sale or equitisation transaction, after being charged by the US Securities and Exchange Commission with illegally selling crypto assets.
20 January 2023
New procedures for recognising and enforcing foreign bankruptcies have been introduced in Saudi Arabia for the first time, which one local lawyer tells GRR should help to encourage investment in the country.
19 January 2023
The Gibraltarian bankruptcy trustees of a Scottish former hedge fund manager have overturned a lower court order discharging his bankruptcy, after an appeals court found the bankrupt’s failure to comply with his statutory obligations to them went “well beyond” a limited failure to evade service.
19 January 2023
A Chinese former owner of French luxury crystal manufacturer Baccarat has averted possible jail time in the UK, after brokering an out-of-court deal with her Hong Kong bankruptcy trustees to adjourn a contempt application over her refusal to cooperate with them.
18 January 2023
Rival bidders seeking to buy Spanish renewables conglomerate Abengoa’s operating assets are testing new powers to scrutinise pre-pack sales under Spain’s recently enacted transposition of the EU preventive frameworks directive.
13 January 2023
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