Topic: Shareholder activism

Shandong Ruyi subsidiary has no prospect of success in €250m bond claim, English court rules

Loan agency and bond trustee service provider GLAS was validly appointed trustee to bonds issued by a Luxembourg-based subsidiary of Chinese fashion conglomerate Shandong Ruyi and may pursue it for €250 million in debt, an English court has affirmed – the latest event in a two-year multi-jurisdictional dispute between bondholders and issuer over the shares in a French fashion house.

21 October 2022

Crédito Real’s Mexican liquidation to be appealed

A Mexican judge has permitted an appeal against lender Crédito Real’s domestic liquidation, as it prepares to fight an involuntary Chapter 11 filing in Delaware a month from now.

19 August 2022

Cayman court rules on when a beneficial owner can pursue winding up

A Cayman court has issued its reasons for permitting the 1MDB-linked beneficial owner of shares in a local investment vehicle, to convert the vehicle's voluntary liquidation into a court-supervised winding up, where proceedings to vindicate share rights can normally only be brought by a registered shareholder under Cayman law.

03 May 2022

From Chinese debt to litigation funding – key disputes trends emerging in the Cayman Islands in 2022

Partner Adam Crane and associate Nicosia Lawson at Baker & Partners in the Cayman Islands discuss some of the key developments that will likely impact the local disputes industry in 2022 and beyond: from the Chinese debt bubble to a new statutory framework for litigation funding, and changes afoot in Cayman’s restructuring regime and judiciary.

11 February 2022

Steinhoff conditionally settles South African opposition

Retail conglomerate Steinhoff has conditionally settled disputes with two sets of creditors who had threatened to derail its hard-won €10 billion global settlement in South Africa.

16 December 2021

Stephenson Harwood hires from Wedlake Bell in London

Stephenson Harwood has recruited a contentious insolvency partner from Wedlake Bell, who tells GRR she is already seeing an increase in fraud investigations in relation to the UK government’s coronavirus support measures.

09 November 2021

Cayman beauty group’s liquidators obtain emergency US relief

The liquidators of a Cayman Islands beauty products e-commerce company have secured emergency relief from a New York bankruptcy court to freeze funds held in the local payment processing account of one of the company’s former clients, amid an international dispute over who owns the funds.

05 November 2021

Singapore appeal court weighs in on when to grant relief from JM decisions

Shareholders of a leather furniture manufacturer who sought to overturn the sale of its business a year ago on the basis that its judicial managers should have approved a different investment offer, have failed to persuade the Singapore Court of Appeal.

10 September 2021

PJT Partners hires Anchorage’s former restructuring head in New York

Charles Tauber, the former head of restructuring at US hedge fund Anchorage Capital Group, is joining PJT Partners as a partner in September.

24 August 2021

Hurricane Energy’s plan needs full MOT, dissenting shareholders argue

You can’t just “kick the tyre” and say a class is out of the money, “you need to open the bonnet and allow the mechanic to take a look,” dissenting shareholders of Hurricane Energy told Mr Justice Zacaroli on the third and final day of its plan sanction hearing, which ended without a ruling.

23 June 2021

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