International Insolvency

In re China Fishery Awarded ABI Second Annual International Matter Award

In re Modern Land Receives Honorable Mention

Ultimate Beneficial Bondholder Has Standing to Wind Up Issuer

The British Virgin Islands Court has reached a different conclusion to the courts of Bermuda, Cayman Islands and Hong Kong in holding that, in certain circumstances, ultimate beneficial bondholders have standing as contingent creditors to make applications for the appointment of liquidators to bond issuers, without the need to show a direct pre-existing contractual relationship with the issuer.

International Committee Webinar Update

On October 17, the International Committee hosted the initial webinar in its planned series of “Directors’ Duties Across Borders in the Insolvency Zone.” The first episode focused on Europe, with speakers from France (Alexandre Koenig of Stephenson Harwood), Germany (Bernd Meyer-Loewy of Kirkland & Ellis), Ireland (Gemma Freeman of Dentons) and the Netherlands (Krijn Hoogenboezem of Resor). Debra Grassgreen (Pachulski Stang Ziehl & Jones) moderated the discussion.

New Member Spotlight

The International Committee community continues to grow! We welcome the following members to our committee:

Ben Hobden | Harney Westwood & Riegels

Ben Hobden is a partner in Harneys’ Litigation, Insolvency, and Restructuring group in the Cayman Islands.

Dispute over Part of a Claim Disqualifies an Involuntary Petitioner

The 2005 amendment to Section 303(b)(1) disqualifies an involuntary petitioner if there is a dispute as to even part of the creditor’s claim.

Senior Care: Financial Stressors in the Sector Across Borders