Topic: Insolvency

Devas investors launch new claim against India

Investors in Devas Multimedia have launched a new treaty claim against India over its “unprecedented” efforts to thwart enforcement of a US$1.3 billion ICC award – weeks after the company’s liquidation was upheld by the Indian Supreme Court.

03 February 2022

Winding-up of publisher stayed in favour of HKIAC claim

A Shanghai business school has failed to secure a winding-up order against its academic resource publisher, after a Hong Kong court stayed its petition pending an HKIAC arbitration.

25 November 2021

One Essex Court welcomes retired Lord Justice

Sir David Richards has joined One Essex Court in London as an arbitrator after stepping down as a full-time judge of the Court of Appeal of England and Wales.

12 November 2021

UK bill proposes arbitration scheme for covid rent disputes

A newly published UK bill aims to establish a binding arbitration process for commercial landlords and tenants who fail to reach an agreement on rent arrears caused by coronavirus.

11 November 2021

Dos Santos company enters bankruptcy after Dutch award

A Dutch energy company owned by embattled Angolan billionaire Isabel dos Santos has been placed into bankruptcy by a court in the Netherlands, in the wake of an arbitral tribunal’s finding that it acquired assets worth €650 million through “grand corruption”.

23 September 2021

ICSID panel splits representation of insolvent claimant

An ICSID tribunal has ruled that an insolvency administrator can represent a Latvian bank in an arbitration against the Baltic state – but that an ancillary claim over whether his appointment was itself a treaty breach should be argued by the bank’s former directors.

20 September 2021

Third-party funding gets “super priority” status in Singapore restructuring

A Singapore court has ruled that funding provided by Omni Bridgeway to help a struggling commodity trader pursue an arbitration in Hong Kong should be granted super-priority status in the context of the trader’s debt restructuring.

03 September 2021

ArcelorMittal targets Essar “alter ego” over billion-dollar award

Luxembourg-based steelmaker ArcelorMittal has filed a new suit in a New York federal court to unwind allegedly fraudulent transfers made by Indian conglomerate Essar to avoid enforcement of a US$1.4 billion ICC award.

20 August 2021

Hong Kong court enforces against Chinese state entity

A Hong Kong court has enforced a Lebanese steel trader’s LCIA award against a Chinese state-owned entity that was found to have used “guerrilla tactics” in the arbitration after its parent company went bankrupt.

17 August 2021

UAE healthcare group preps for London arbitration

The administrators of an insolvent Emirati healthcare group have agreed to a London arbitration to resolve disputes over insurance receivables that a Dubai bank has claimed as security for an Islamic finance deal.

21 July 2021

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