Topic: Provisional liquidation

Blood storage group’s Cayman JPLs secure control of Hong Kong subsidiaries

The joint provisional liquidators of a Cayman-registered, mainland China-based blood storage group have blocked the transfer of its Hong Kong-incorporated subsidiaries to a Japanese national, after a Hong Kong court found the documents executing the transfers were void.

13 February 2024

Insurer’s Bermudian liquidators secure recognition as Singapore court applies Ascentra

An insurance company with no discernible office, assets, employees or creditors in Bermuda has had its winding up under the Bermuda Insurance Act recognised in Singapore, after a local court found it fell within the “broad approach” established by the Court of Appeal in Ascentra.

01 December 2023

Crypto exchange AAX’s Cayman liquidators and Singaporean JM secure US recognition

A cryptocurrency exchange’s Cayman provisional liquidation and its Singaporean interim judicial management process have both been recognised as foreign main proceedings in a single decision in Florida.

07 July 2023

Delaware judge urges mediation in FTX's Bahamas-US dispute

Collapsed crypto exchange FTX’s Bahamian liquidators and Chapter 11 lawyers have been ordered to enter mediation to try and resolve a dispute over how to determine whether certain customer accounts belong to group entities in The Bahamas or the US.

12 June 2023

Chinese creditors wind up Hong Kong-listed property developer

A Chinese state-owned investment company and a local investment manager have successfully wound up a Chinese property group’s Hong Kong listed top company for being guarantor

09 June 2023

Cayman liquidators and Singaporean JM seek joint recognition in Florida

A cryptocurrency exchange’s Cayman provisional liquidators and Singaporean interim judicial manager have sought Chapter 15 recognition of the respective proceedings they are overseeing in Florida, to pursue funds allegedly stolen by the group’s managers.

06 June 2023

Another Chinese property developer wound up in Hong Kong

Cayman Islands-incorporated Chinese property developer Jiayuan International Group has been wound up after a Hong Kong court found it had failed to come up with a viable restructuring plan.

12 May 2023

Blockchain finance network enters liquidation in Ireland after failed investment

Interpath Advisory managing directors Kenneth Fennell and Andrew O’Leary have been appointed as joint liquidators of an Irish software company that has struggled since a multi-million-euro investment from Bank of America fell through earlier this year.

09 March 2023

Wine investment fund enters provisional liquidation in Bermuda following regulator investigation

A Bermudian court has appointed joint provisional liquidators over a local fund that specialises in fine wine investment, after the island’s financial regulator raised concerns following investor allegations of wrongdoing.

21 February 2023

Bahamian and US courts agree FTX recognition orders, examiner bid rejected

Courts in The Bahamas and the US have agreed to recognise FTX’s insolvency processes in each other’s jurisdictions, while the US Trustee has failed in a bid to appoint an independent examiner to investigate allegations of fraud by the crypto group.

15 February 2023

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