Work Area: Arbitration

Creditor found liable for trustees’ fees after bankruptcy order annulled in Hong Kong

A year after it issued a first-of-its-kind judgment overturning a personal bankruptcy order in the face of an exclusive jurisdiction clause, the Hong Kong Court of Appeal has allowed Chinese businessman Guy Kwok-Hung Lam to pursue the creditor that made him bankrupt for the fees incurred by his trustees.

26 September 2023

Privy Council stays Cayman winding-up in favour of arbitration

The Privy Council in London has held that a Cayman winding up petition against the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated arbitration clause.

25 September 2023

McDermott International to file parallel UK-Dutch restructurings with Ch15 in US

Three years since Houston-headquartered oil and gas engineering group McDermott International exited a pre-packaged Chapter 11, it has entered an agreement with creditors and bank lenders that will see its UK subsidiary launch an English restructuring plan and two Netherlands entities pursue WHOA proceedings.

11 September 2023

Individual investor fails on appeal to sue Eurogroup for Greek debt restructuring

An individual investor in Greek sovereign debt has failed on appeal to challenge the imposition of the country’s 2012 restructuring on “mom and pop” bondholders, after the EU’s General Court upheld an earlier ruling that decisions taken by an intergovernmental body within the Eurozone cannot be attributed to the EU.

19 July 2023

HK liquidators “authors of their own misfortune” in failing to wind up Singaporean metals trader

The liquidators of a Peking University Founder Group subsidiary in Hong Kong have failed to wind up a Singaporean former affiliate of the group, in a dispute that pitches “aggrieved” offshore bondholders against investors who purchased some of the mainland group’s assets in a 2021 restructuring.

02 June 2023

Vietnamese power project developer enters JM as court applies AnAn principles

A Thai-owned power producer has persuaded a Singapore court to place the developer of a large project in Vietnam into judicial management, denying a request for a stay on the grounds that a disputed debt should be referred to arbitration.

24 May 2023

Kuwait telecoms company allowed to serve second bankruptcy petition on Saudi prince

A Kuwaiti telecoms group has won permission to serve a second bankruptcy petition on a Saudi prince after he again failed to convince the High Court in London he has no place of residence in the UK.

19 May 2023

Stay lifted for Greek shipping group while contested Ch7 continues

Weeks after three noteholders filed an involuntary Chapter 7 proceeding against Greek shipping group Eletson, a New York court has lifted the resultant automatic stay to allow the alleged debtor to move forward with an arbitration.

17 April 2023

Credit Suisse bondholder group hires Quinn Emanuel

Quinn Emanuel has won a sought-after mandate to represent one group of Credit Suisse AT1 bondholders in their effort to recover losses suffered following the bank’s merger with Swiss rival UBS, while GRR understands two other groups are emerging that are in "advanced discussions" with Pallas Partners.

03 April 2023

Former law firm partner charged with bankruptcy fraud

A former partner at several well-known US law firms has been charged with making false statements in Chapter 11 bankruptcy proceedings.

31 March 2023

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