Work Area: Complex commercial litigation

JOLs appointed over Cayman fund after two-year battle with fund manager

Kroll’s Cosimo Borrelli and Mitchell Mansfield have been confirmed as joint official liquidators of Global Fixed Income Fund, after a Cayman judge rejected objections from shareholders that they were biased towards a minority stakeholder – Taiwanese “ultra-high net worth individual” Bruno Wang.

01 September 2023

Aon’s Bermudian vehicle launches Ch15 as Vesttoo dispute continues

A Bermudian segregated accounts company linked to global insurance broker Aon is seeking Chapter 15 relief to aid its discovery efforts against bankrupt Israeli fintech Vesttoo, who it has threatened with arbitration over an alleged large-scale fraud.

29 August 2023

Evergrande scheme meetings delayed as trading resumes

Embattled Chinese property developer Evergrande has adjourned meetings to vote on its four offshore schemes until next month, saying creditors need more time to consider its proposals after it resumed trading following a 17-month hiatus.

28 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

Liquidators say billions of dollars at stake in US-Cayman comity dispute

The Cayman liquidators of a bankrupt feeder fund say the outcome of their first-of-its-kind comity dispute with a US federal receiver will have “significant consequences” for billions of dollars of indirect foreign investment in the US.

24 August 2023

Chilean wind project companies seek Ch11 protection amid “global litigation campaign”

The Irish founder of a Chilean renewable energy group has moved to dismiss an “unusual” Chapter 11 petition filed by administrators purportedly appointed by its US lenders, in an escalation of an ownership dispute that has been playing out in the US, Chile, Ireland and Spain.

22 August 2023

Will the UK Supreme Court’s PACCAR decision impact the contentious insolvency industry?

The UK Supreme Court recently issued a decision in PACCAR v Competition Appeal Tribunal, finding that most litigation funding agreements in the UK could be classified as damages-based agreements that are subject to higher levels of regulation. Contentious insolvency lawyers and litigation funders talk to GRR about the consequences for the sector.

15 August 2023

Pachulski hires veteran disputes lawyer in Texas

Cole Schotz member James Walker has joined Pachulski Stang Ziehl & Jones in Texas, bringing with him experience advising creditors in the restructuring of Luxury department store chain Neiman Marcus.

14 August 2023

Canada’s NextPoint Financial wins interim Ch15 relief in Delaware

A Canadian group that offers a marketplace for financial services targeting consumers and small businesses has secured interim Chapter 15 relief in Delaware to block creditors and other stakeholders taking action against its assets in the US.

11 August 2023

Cayman Court of Appeal reverses just and equitable winding up order

Joint liquidators appointed over a solvent two-member captive insurance company have been discharged after the Cayman Islands Court of Appeal found a lower court erred in finding the company was a quasi-partnership.

10 August 2023

Unlock unlimited access to all Global Restructuring Review content