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Three weeks remaining for second Women in Restructuring Survey

Three weeks remaining for second Women in Restructuring Survey

21 August 2019

Nominations are still open for GRR’s second Women in Restructuring survey, where we hope to highlight the achievements of influential women in the profession.

Hong Kong court upholds statutory demand despite arbitration clause

Hong Kong court upholds statutory demand despite arbitration clause

21 August 2019

A Hong Kong appellate court has dismissed an appeal to set aside a statutory demand in favour of arbitration, finding the applicant “had no genuine intention to commence arbitration”.

Vneshprombank owner’s property payment not a sham transaction, English court finds

Vneshprombank owner’s property payment not a sham transaction, English court finds

21 August 2019

An English court has permitted the former owner of a collapsed Russian bank to make a payment on a London property, dismissing allegations that it was a sham transfer contrary to a freezing order against him.

PwC partner appointed for Ghanaian financial “sanitising”

PwC partner appointed for Ghanaian financial “sanitising”

20 August 2019

Ghana’s central bank has brought in Accra-based PwC partner Eric Nana Nipha to wind up 23 distressed financial institutions, after identifying them as a risk to the country’s financial sector.

Jay Alix loses McKinsey racketeering claim

Jay Alix loses McKinsey racketeering claim

20 August 2019

A US judge has dismissed Jay Alix’s racketeering lawsuit against McKinsey & Company, in a blow to the retired AlixPartners founder’s years-long fight over alleged disclosure breaches.

Steinhoff’s European subsidiaries complete €9bn restructuring

Steinhoff’s European subsidiaries complete €9bn restructuring

20 August 2019

Scandal-hit South African retail group Steinhoff has announced the completion of its €9 billion European restructuring, but the news has failed to stop its share price falling below 1 Rand for the first time.

Ex-Arrium CFO fails to block negligence claims

Ex-Arrium CFO fails to block negligence claims

20 August 2019

An Australian appeal court has ruled that the former chief financial officer (CFO) of collapsed Australian miner Arrium must face negligence proceedings brought by a creditor.

CVR Global opens Jersey office after Moore Stephens acquisition

CVR Global opens Jersey office after Moore Stephens acquisition

20 August 2019

Advisory firm CVR Global has opened its third offshore office after acquiring the Moore Stephens restructuring and insolvency team in Jersey.

Indonesian debtor chose Ireland to restructure amid Brexit uncertainty

Indonesian debtor chose Ireland to restructure amid Brexit uncertainty

19 August 2019

An Indonesian arm of Asia Pulp & Paper picked Ireland over the UK to restructure because of uncertainty over Brexit, a US Chapter 15 court has been told.

Cayman litigator returns to London

Cayman litigator returns to London

19 August 2019

Sarah Tresman has left Walkers in the Cayman Islands to rejoin her former chambers at Twenty Essex in London.

Jersey receiver appointed over unknown HSBC clients’ assets

Jersey receiver appointed over unknown HSBC clients’ assets

19 August 2019

A Jersey court has appointed a government receiver over assets held by an insolvent HSBC subsidiary, after the company’s liquidators failed to track down the clients who owned them.

Sovereign debt column: Is this time different for Sub-Saharan Africa?

18 August 2019

Cleary Gottlieb Steen & Hamilton partner Sui-Jim Ho discusses the current spiralling debt levels in Africa and argues that there is not necessarily the same cause for concern as there was in the past.