Work Area: Complex commercial litigation

Fieldfisher hires Clarke Willmott insolvency partner in Manchester

A Manchester-based insolvency partner from UK regional firm Clarke Willmott has joined Fieldfisher, telling GRR he wants to grow and develop his insolvency litigation practice in the north of England.

08 December 2023

Lehman: statutory interest ranks pari passu with subordinated claims

A surplus in the Lehman Brothers Holdings estate should be used to pay statutory interest to a set of subordinated noteholders, ahead of paying the principal on three subordinated debt facilities, the English High Court has ruled.

29 November 2023

Founder Group liquidators win appeal to wind up Singaporean metals trader

The Hong Kong liquidators of a Peking University Founder Group subsidiary have won an appeal to wind up another affiliate in the group after a Singaporean court found the company’s attempt to resist the winding up petition was “clearly an abuse of process.”

28 November 2023

McDermott sanction hearing was adjourned over procedural fairness

An English judge has outlined the circumstances in which a court will be willing to adjourn a contested restructuring plan, in a previously unpublished decision postponing oil and gas group McDermott International’s plan sanction hearing to February.

24 November 2023

Call failed: Phones 4U administrators’ antitrust claims rejected

The administrators of defunct mobile retailer Phones 4U have failed to persuade a UK court that network operators Vodafone, O2 and EE illegally colluded to force it into insolvency in 2014.

17 November 2023

Part 26A hits the Court of Appeal as Adler noteholders vie to bin plan

The UK’s Part 26A restructuring mechanism has made its first foray into the English Court of Appeal, as bondholders of the German property developer Adler argued this week that a judge wrongly exercised his discretion to cram them down in April.

26 October 2023

Lehman sub-debt holders spar over “ferocious” issue of statutory interest

The English High Court has been asked to decide whether a £440 million surplus in the estate of Lehman Brothers Holdings should be used to pay statutory interest to a set of subordinate noteholders prior to settling the principal claim of a subordinated facility that ranks behind them.

11 October 2023

Schulte Roth & Zabel forms special situations group

New York-headquartered Schulte Roth & Zabel has formed a special situations group that its co-chair tells GRR will focus on “mission-critical” stressed and distressed transactions for its private capital clients.

02 October 2023

Hyflux liquidators and KPMG castigated for “excessive” submissions

The liquidators of Singaporean water utility Hyflux have been castigated for submitting a “meandering” statement of claim before the Singapore Supreme Court against the group’s former auditors KPMG, which the judge said had lured the Big Four firm into responding in kind.

27 September 2023

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

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