Topic: Personal bankruptcy

US Supreme court to decide whether bankruptcy code abrogates tribal sovereign immunity

In a case that could have significant repercussions for the rights of Native American tribes, the US Supreme Court is set to decide whether the Bankruptcy Code “unequivocally expresses” the intent of Congress to abrogate tribal sovereign immunity.

26 May 2023

Kuwait telecoms company allowed to serve second bankruptcy petition on Saudi prince

A Kuwaiti telecoms group has won permission to serve a second bankruptcy petition on a Saudi prince after he again failed to convince the High Court in London he has no place of residence in the UK.

19 May 2023

Creditor can fund joint investigations as Singapore court weighs in on third-party funders’ profits

The liquidators of a licensed foreign law practice in Singapore and the bankruptcy trustee of its sole shareholder have secured court approval of a third-party funding agreement with a member of the firm's committee of inspection, in a decision that sheds light on the type of acceptable deals and range of profits a funder can make.

11 May 2023

Europe Column: Spanish banks beware of insolvent Dutch nationals with holiday homes!

Bob Wessels considers a Dutch court case from March 2023 in which a Spanish bank with a secured claim learned an expensive lesson when dealing with the bankrupt Dutch owners of a Spanish holiday home.

11 May 2023

Bankrupt Russian entrepreneur fails to block London property seizure

The foreign representative of a Russian businessman’s bankruptcy trustee has been permitted to seize a multi-million pound London property, after an English court rejected the bankrupt’s arguments that he had gifted all his assets outside Russia to his wife and children.

13 March 2023

11th Circuit hears Chapter 15 recognition dispute

Urging the Eleventh Circuit Court of Appeals to uphold the recognition of an Omani citizen’s English bankruptcy in the US, UNCITRAL Model Law draftsman Dan Glosband said the definition of “debtor” under section 109(a) of the US Bankruptcy Code does not apply to Chapter 15.

10 March 2023

Sequor Law advising Russian national’s English trustees in Miami Ch15

The English trustees of a bankrupt Russian businessman accused of committing a fraud against banks he owned have sought recognition of their appointments in Florida to pursue assets and possible litigation.

09 February 2023

Australian court recognises businessman’s Singaporean bankruptcy

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

Jersey court recognises English bankruptcies of former TV boss couple

The English bankruptcy trustees for two directors of a collapsed outside broadcast equipment provider, who stand accused of orchestrating what might be the UK’s biggest ever fraud in asset-backed lending, have secured recognition of their appointments in Jersey to pursue assets in the Channel Island.

02 December 2022

English court revokes Indian former billionaire Pramod Mittal’s IVA

Indian businessman Pramod Mittal’s two-year-old personal bankruptcy plan has been overturned, after an English court found there was material irregularity at a creditor meeting where the individual voluntary arrangement was approved.

28 November 2022

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