Topic: Provisional liquidation

Developments to Jersey's insolvency regime

Mourant Ozannes partner Stephen Alexander and associate Chris Vincent examine the recent “landmark” changes to Jersey’s Companies Law, which they say reinforce the jurisdiction’s position as a leader among offshore international finance centres.

06 December 2021

Global Brands Group prepares Bermudian winding up

UPDATED: Hong Kong-listed retail wholesaler Global Brands Group says it is preparing to wind up its ultimate holding company in Bermuda, while three of its UK subsidiaries have entered administration in England and another affiliate has filed for insolvency in Germany.

04 November 2021

Dentons Rodyk hires from BlackOak

Former BlackOak director Debby Lim has joined Dentons Rodyk & Davidson in Singapore.

11 October 2021

Bermudian reinsurer’s JPLs move to stop potential US claims

The provisional liquidators of a US-owned Bermudian reinsurance group are seeking Chapter 15 recognition in New York, hoping to prevent potential investor litigation over historically large losses.

07 October 2021

Steinhoff investors’ consortium drops claims, but settlement still faces hostility

A consortium of shareholders seeking to disrupt South African conglomerate Steinhoff’s global settlement has withdrawn its opposition to the group’s Dutch suspension of payments proceedings – but other claimant groups remain hostile in the Netherlands and South Africa.

08 June 2021

Chinese oil company secures Cayman JPLs amid corruption probe

Practitioners from Grant Thornton have been appointed as Cayman joint provisional liquidators of a Chinese oil and gas company that defaulted on US$248 million of Singaporean notes, amid an investigation by Hong Kong anti-corruption authorities.

02 June 2021

GPG payments arm’s insolvency opened in Bremen

A company that acted as the finance raising arm for the disgraced German Property Group, into which thousands of British and Irish investors poured their life savings, has been placed into formal insolvency proceedings in Bremen along with the rest of the group.

24 May 2021

Hong Kong JPLs overturn joint venture payment on appeal

Hong Kong’s highest court has voided a payment relating to an insolvent construction company’s joint venture rights, overturning lower court rulings on local avoidance rules.

18 May 2021

China Resources JPL application dismissed in Cayman Islands

An application to appoint joint provisional liquidators over a Hong Kong-listed construction company has been refused by a Cayman court because of “flimsy” evidence and a lack of support from creditors.

17 May 2021

RSM under fire as Cayman soft-touch JPLs refused assistance in Hong Kong

In the first decision of its kind, a Hong Kong court has declined to assist an investment holding company’s Cayman soft-touch provisional liquidators despite recognising their appointments, citing concerns over the treatment of creditors.

12 May 2021

Unlock unlimited access to all Global Restructuring Review content