Topic: Insolvency

US court bars settlement of Indian satellite dispute

A US court has temporarily blocked Bangalore-based Devas Multimedia from settling a dispute over a US$562 million ICC award against Indian state-owned satellite company Antrix – amid allegations of a “government hijacking” after a liquidator took control of Devas, accused it of fraud and fired its counsel.

02 March 2021

Landau helps defeat bid to remove Rajah & Tann

English barrister Toby Landau QC has helped Rajah & Tann defeat an attempt by a Singaporean billionaire’s family to have the firm removed as counsel to the judicial managers of their shipping and oil trading businesses.

26 February 2021

Funder chases client after Albanian bailiff seizes ICC award

The Australian disputes funder behind a Cayman oil company’s ICC claim against Albania has applied to wind up the claimant after the proceeds of the arbitration award were sequestered by a bailiff in Tirana.

04 February 2021

Zambian court halts liquidation of mining venture

A court in Zambia has blocked proceedings brought by a Zambian state-owned entity to wind-up its copper mining joint venture with the UK’s Vedanta Holdings, pending the resolution of an UNCITRAL arbitration between the parties.

23 November 2020

Shanghai arbitration clause fails to halt winding-up

A Hong Kong affiliate of industrial fishing group Pacific Andes cannot rely on a SHIAC arbitration clause to protect itself from winding-up proceedings because the clause was irrelevant to its debt, a court has found.

13 November 2020

Insolvent solar investor fails in claim against Italy

An ICSID tribunal has rejected an insolvent solar investor’s claim against Italy, finding that reforms to the country’s renewable energy regime were not irrational or arbitrary.

08 September 2020

When insolvency and arbitration interact

For parties conducting arbitration in the wake of the covid-19 pandemic, the potential insolvency of an award debtor will become a real concern. International arbitration and restructuring lawyers from Vinson & Elkins explain why it is crucial to consider the interaction between arbitration and insolvency laws and the different policy concerns underlying them.

15 July 2020

Circumventing arbitration via a winding-up petition

After a long-awaited ruling by the Singapore Court of Appeal, Debby Lim of restructuring and insolvency boutique BlackOak and Arvin Lee of Wee Swee Teow in Singapore consider how creditors may seek to circumvent an arbitration agreement by means of a winding-up petition and how a debtor can combat such moves.

30 April 2020

Singapore winding-up stayed to avoid “greater injustice”

The Singapore Court of Appeal has upheld a stay of winding-up proceedings in favour of arbitration, holding that to find the debtor in abuse of process because of its inconsistent conduct risked an “even greater injustice” by permitting a creditor to enforce a potentially illegal claim.

30 April 2020

“No conflict” between insolvency and arbitration in Singapore

The Singapore Court of Appeal has confirmed that a prima facie standard of review applies when considering whether to stay a winding-up application on the basis of an arbitration clause – in a dispute triggered by US sanctions against Russian oligarch Oleg Deripaska.

16 April 2020

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