Work Area: Asset recovery

Debts unenforceable in UAE can be enforced in the UK, English court says

There is no common law impediment to enforcing a UAE monetary judgment in the UK that cannot be enforced in the UAE, a Deputy High Court Judge has found, declining to set aside an English default judgment issued against a Lebanese businessman on the basis of personal guarantees that are unenforceable in Abu Dhabi.

22 September 2023

Baker & Partners brings in new partner to grow BVI offering

A cross-border civil fraud and asset-recovery specialist has joined Baker & Partners in the British Virgin Islands, after working for the firm as a consultant for two months.

20 September 2023

GRR Live returns to New York next week

There is still time to secure a spot at GRR Live in New York, which returns next week with a packed schedule covering the ongoing crypto fallout, post-insolvency financings in Latin America, growing headwinds for cross-border recognition and the new Cayman Islands restructuring officer regime.

15 September 2023

Second Singaporean crypto scheme sanctioned becomes first to take effect

The operator of Singaporean cryptocurrency platform Vauld has secured sanction of a scheme of arrangement that will be the first such scheme to take effect in the Lion City, after another crypto lender, Zipmex’s, fell through.

30 August 2023

GRR Live returns to New York on 20 September

Bringing together top speakers from the international insolvency circuit, GRR Live is returning to New York with a packed day covering global developments in distressed financing, growing headwinds for cross-border recognition, commercial real estate turmoil and the ongoing crypto fallout.

25 August 2023

A new chapter in cross-border insolvency – UK to adopt UNCITRAL Model Law on Enterprise Group Insolvency

Norton Rose Fulbright partner Radford Goodman and senior knowledge lawyer Helen Coverdale in London provide context to the UK’s recent decision to adopt one new UNCITRAL Model Law and press pause on implementing part of another – with a commentary from the firm’s global chair and global co-head of restructuring Scott Atkins in his capacity as INSOL International president.

25 July 2023

“When I rest, I carry heavy rocks”: an interview with Judge Daniel Carnio Costa

São Paulo bankruptcy judge and co-chair of the International Insolvency Institute’s judicial committee Judge Daniel Carnio Costa tells GRR about his central role in helping reform Brazil’s bankruptcy law, new tools he would like to see added to the statute book and how time spent studying in the US and Europe helped shape his innovative approach to restructuring.

23 June 2023

Hong Kong Airlines hit with HK$56.3 million injunction

Hong Kong Airlines has been ordered to hold HK$56.3 million on trust after failing to convince a Hong Kong court that a construction group’s claim for breach of contract against it was discharged when the airline’s dual Hong Kong-UK restructuring became effective last month.

30 May 2023

Bedzhamov battles Russian trustee again for permission to sell Belgravia properties

The bankrupt former owner of Russia’s Vneshprombank has again asked an English Court to let him sell two London properties for his legal and living expenses, as his Moscow-based bankruptcy trustee tries to block the deal ahead of a UK Supreme Court hearing in November.

30 May 2023

Rolta chair ordered to pay creditors after New York contempt ruling

The chair of Indian IT group Rolta has been ordered to personally pay creditors almost US$188 million following a bond default in 2018, after a New York court found he directed the group to file bankruptcies in bad faith.

25 May 2023

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