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Fairfield Sentry wins BVI costs appeal in Madoff claim sale dispute

Fairfield Sentry wins BVI costs appeal in Madoff claim sale dispute

20 June 2018

Madoff feeder fund Fairfield Sentry has won a costs appeal in the Caribbean’s highest court absolving it from paying for an opponent’s expert witness, after its fortunes changed in a dispute over the sale of its claims against the Ponzi scheme’s estate.

Lehman Brothers’ English scheme recognised in New York

Lehman Brothers’ English scheme recognised in New York

20 June 2018

A scheme of arrangement proposed by the joint-administrators of Lehman Brothers’ main trading arm in Europe has been recognised and enforced in New York, one day after it was sanctioned by an English court.

Book Review: The Future of Cross-Border Insolvency: Overcoming Biases and Closing Gaps

Book Review: The Future of Cross-Border Insolvency: Overcoming Biases and Closing Gaps

20 June 2018

Stephan Madaus, law professor at Martin-Luther-University Halle-Wittenberg in Germany, praises a new book about the future of cross-border insolvency by University of Nottingham professor Irit Mevorach: a book that he says will shape the discussion around the development of cross-border insolvency regimes in years to come.

Telecoms company HiTs Chapter 15

Telecoms company HiTs Chapter 15

20 June 2018

Cayman-based HiTs Africa, a holding company for various African telecom subsidiaries, has filed for Chapter 15 protection in New York so its liquidators can investigate US banks’ wire transfer records.

Dame Elizabeth Gloster gives keynote at IWIRC launch in London

Dame Elizabeth Gloster gives keynote at IWIRC launch in London

20 June 2018

Former Court of Appeal judge Dame Elizabeth Gloster and veteran EY partner Alan Bloom were among the guest speakers at the official launch of the International Women’s Insolvency and Restructuring Confederation’s (IWIRC) new network in London last week.

Oi's Brazilian plan gains recognition in US

Oi's Brazilian plan gains recognition in US

19 June 2018

One of Latin America’s biggest restructurings will be enforced in the US after a New York court issued a Chapter 15 order recognising telecom company Oi’s US$20 billion plan.

UAE’s Abraaj enters provisional liquidation in the Cayman Islands

UAE’s Abraaj enters provisional liquidation in the Cayman Islands

19 June 2018

The Grand Court of the Cayman Islands has accepted a provisional liquidation application from developing markets investor Abraaj Holdings, after two of the Dubai-headquartered company’s creditors made winding up orders against it in the wake of allegations it mishandled investors' funds.

ABI, Washington, DC: Why do foreign companies choose Chapter 11?

ABI, Washington, DC: Why do foreign companies choose Chapter 11?

19 June 2018

Many debtors around the world have sought protection under the wing of the US Bankruptcy Code’s Chapter 11, taking advantage of its expansive jurisdictional ambit. But is it right for everybody?

GRR Live Offshore, Grand Cayman: Is Ocean Rig the Cayman cure-all, and other questions

GRR Live Offshore, Grand Cayman: Is Ocean Rig the Cayman cure-all, and other questions

18 June 2018

With bold new precedents established in Ocean Rig, and planned restructuring law reforms on the horizon, Cayman practitioners considered how they square against the competition in the battle to win cross-border work, at the inaugural GRR Live Offshore.

Lehman Brothers’ European arm secures “momentous” scheme sanction in UK

Lehman Brothers’ European arm secures “momentous” scheme sanction in UK

18 June 2018

In what was described by lawyers as a “momentous day” in London, the High Court has sanctioned a scheme of arrangement proposed by the administrators of Lehman Brothers’ main trading arm in Europe, signalling the end of a decade’s worth of litigation.

GRR Live Offshore - in pictures

GRR Live Offshore - in pictures

18 June 2018

GRR's first ever offshore event attracted important names from New York, London, Hong Kong, Singapore, Chile and of course, the host jurisdiction, the Cayman Islands. Click on the headline for photos from the day.

Boris Becker claims diplomatic immunity from bankruptcy case with Africa envoy appointment

Boris Becker claims diplomatic immunity from bankruptcy case with Africa envoy appointment

15 June 2018

German tennis star Boris Becker has claimed diplomatic immunity in an attempt to stop the prolongment of his bankruptcy case in the English courts.