New Rimon global restructuring head plans to “smash the limitations” of Big Law
Global Restructuring Review
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1w ago
The head of Gibson Dunn & Crutcher’s Asia restructuring group has joined Rimon Law in Singapore, hailing the firm’s innovative model and flexible fee structure that he said can eradicate the concept of hourly billings ..read more
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CERIL, Vilnius: European Commission “not happy” with CJEU public debt decision
Global Restructuring Review
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1w ago
A representative from the European Commission has told delegates at a conference in Lithuania that a preliminary ruling from the European Court of Justice earlier this week could undermine substantive harmonisation of the 2019 Preventive Restructuring Directive across member states.  ..read more
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Hong Kong judge chastises former director's “abusive” actions as CPG liquidations continued
Global Restructuring Review
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1w ago
A judge in Hong Kong has issued her reasons for continuing provisional liquidation orders against four local subsidiaries of China Properties Group, describing actions taken by their former and purported directors as “abusive”, “disturbing” and “contumelious ..read more
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Bermuda court approves “urgent” sale of oil group, winding up rejected 
Global Restructuring Review
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1w ago
The joint provisional liquidators of an Africa-focused oil group have been given the greenlight to complete a “momentous and controversial” asset sale to its major shareholder after a Bermudan court rejected creditor claims they acted in bad faith and the group should be wound up ..read more
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Son of bankrupt Lord ordered to hand over documents to trustee
Global Restructuring Review
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1w ago
The son of a bankrupt Anglo-Irish Baron has been ordered to hand over the contents of a storage unit containing items and files allegedly owned by his father, after raising conflict of interest and other “scurrilous” allegations against his bankruptcy trustees ..read more
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Chinese marketing group faces Cayman liquidation after investors lose confidence
Global Restructuring Review
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1w ago
A NASDAQ-listed online marketing group allegedly caught up in an illicit gambling operation in China is facing a Cayman winding up petition from a group of offshore investors who launched securities litigation against it in New York earlier this year ..read more
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Akin hires from Paul Hastings in New York
Global Restructuring Review
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1w ago
A former of counsel at Paul Hastings who specialises in restructuring, bankruptcy and creditors’ rights litigation has joined Akin as a partner after four years at his previous firm ..read more
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UAE creditor secures transfer of Iranian property under UK Insolvency Act
Global Restructuring Review
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1w ago
A Middle Eastern oil company has successfully used the transactions at an undervalue provisions of the UK Insolvency Act to secure the transfer of a £100 million property in London linked to the National Iranian Oil Company in satisfaction of a US$2.6 billion arbitral award.  ..read more
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Rio-based electric utility reaches preliminary agreement with creditors
Global Restructuring Review
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1w ago
Brazilian utility company Light has reached an agreement with creditors and secured an extension to a stay from a Rio de Janeiro court, less than two months since it unveiled updated restructuring proposals.  ..read more
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English court recognises Saad’s Saudi liquidation
Global Restructuring Review
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1w ago
The Riyadh-based bankruptcy trustee of Saudi conglomerate Saad Group and its founder Maan Al-Sanea has secured recognition of his appointments in England ..read more
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