Topic: Centre of main interests

Russian trustee goes after London properties in the UK Supreme Court

The Russian bankruptcy trustee of former Vneshprombank owner Georgy Bedzhamov has spent the last two days trying to persuade the UK Supreme Court that her recognition under common law gives the English courts jurisdiction to assist her in realising his immovable property in London.

22 November 2023

Chinese health product retailer wound up in Hong Kong

A Cayman Islands-incorporated health and wellness product retailer that operates in China has been wound up by the High Court of Hong Kong, which found the company has failed to produce a “genuine” restructuring proposal to creditors.

04 October 2023

HK court reaffirms COMI approach as ex-director challenges liquidators in the BVI

A Hong Kong court has granted interim relief to the local, COMI-appointed liquidators of China Properties Group against opposition from an ex-group director who claimed it would interfere with the jurisdiction of the courts in the British Virgin Islands, the place of incorporation of some of the group’s subsidiaries.

18 September 2023

Model Law draftsman responds to COMI proposals

Responding to a letter urging UNCITRAL to abolish the concept of centre of main interests, one of the architects of the Model Law on Cross-Border Insolvency has warned that changing the eligibility requirement for recognition will not eliminate the possibility of litigation by opportunistic opponents.

15 September 2023

Examiner appointed over non-EU company with Irish COMI

In a first-of-its-kind judgment, a court in the Republic of Ireland has appointed an examiner over a Northern Irish building interiors company, finding that its centre of main interests lay in the Republic under the European Insolvency Regulation.

18 July 2023

Wikeley rebuked for violating Chapter 15 stay

A Kentucky entity set up by Australia-based businessman Kenneth Wikeley has been reprimanded for violating a Chapter 15 stay obtained by liquidators appointed over the trustee of his family trust, which has been accused of fraud by a purported investor.

01 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

Sullivan & Cromwell hires Kirkland partner

A Kirkland & Ellis partner who has been advising offshore bondholders in the restructurings of Chinese real estate developers Evergrande and Modern Land has moved to Sullivan & Cromwell in Hong Kong.

12 May 2023

A WHOA moment: shipbuilder completes what is thought to be largest-yet Dutch scheme

A Dutch shipbuilder has completed a landmark WHOA restructuring that is believed to be one of the country’s largest so far, as well as being the first to use a cram-down within a syndicate of lenders.

30 March 2023

Insolvency Law Academy dedicates mediation centre in honour of late minister

The think tank founded by former INSOL International president Sumant Batra has named two Indian judges as emeritus fellows, and dedicated a new mediation centre to another late luminary in the insolvency space.

08 February 2023

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