Offshore Litigation

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Offshore Litigation

The Offshore Litigation Blog is where you will find recent case updates, offshore litigation news, offshore filings lists, interviews and even some insights into island life, written by Harneys litigators from around the world.

Contributors

Jonathan Addo
Jonathan Addo
  • Jonathan Addo

  • Partner
  • British Virgin Islands
Jeremy Child
Jeremy Child
  • Jeremy Child

  • Partner
  • London
Julie Engwirda
Julie Engwirda
  • Julie Engwirda

  • Partner
  • Hong Kong
Peter Ferrer
Peter Ferrer
  • Peter Ferrer

  • Partner
  • British Virgin Islands
Claire Goldstein
Claire Goldstein
  • Claire Goldstein

  • Partner
  • British Virgin Islands
Hazel-Ann Hannaway
Hazel-Ann Hannaway
  • Hazel-Ann Hannaway

  • Partner
  • British Virgin Islands
Nick Hoffman
Nick Hoffman
  • Nick Hoffman

  • Partner
  • Cayman Islands
Andrew Johnstone
Andrew Johnstone
  • Andrew Johnstone

  • Partner
  • Hong Kong
Paula Kay
Paula Kay
  • Paula Kay

  • Partner
  • Hong Kong
Phillip Kite
Phillip Kite
  • Phillip Kite

  • Partner
  • London
Vicky Lord
Vicky Lord
  • Vicky Lord

  • Partner
  • Shanghai
Paul Madden
Paul Madden
  • Paul Madden

  • Partner
  • Cayman Islands
Henry Mander
Henry Mander
  • Henry Mander

  • Partner
  • Cayman Islands
Ian Mann
Ian Mann
  • Ian Mann

  • Partner
  • Hong Kong
William Peake
William Peake
  • William Peake

  • Partner
  • London
Lorinda Peasland
Lorinda Peasland
  • Lorinda Peasland

  • Consultant
  • Hong Kong
Chai Ridgers
Chai Ridgers
  • Chai Ridgers

  • Partner
  • Hong Kong
Nicola Roberts
Nicola Roberts
  • Nicola Roberts

  • Partner
  • Hong Kong
Paul Smith
Paul Smith
  • Paul Smith

  • Partner
  • Cayman Islands
Andrew Thorp
Andrew Thorp
  • Andrew Thorp

  • Partner
  • British Virgin Islands
Jessica Williams
Jessica Williams
  • Jessica Williams

  • Partner
  • Cayman Islands
Jayson Wood
Jayson Wood
  • Jayson Wood

  • Partner
  • Cayman Islands

Position Paper on Parallel Schemes of Arrangement: the Harneys “Schemario Rules”

What are Schemarios? Schemarios are “scheme-scenarios” which form governing rules to establish when a parallel scheme of arrangement is necessary. We believe that the Schemarios will be helpful to practitioners of cross-border restructuring around the world. Our Schemarios illustrate how the operation of the “rule in Gibbs” can be used to distinguish between cases where further steps (in particular, a parallel scheme of arrangement) are likely to be necessary to ensure the practical effectiveness of a cross-border restructuring and those cases where such steps may not strictly be necessary for that purpose.

Ian Mann, Chai Ridgers,
Paula Kay, Phillip Kite,
Peter Ferrer, Nicola Roberts,
Nick Hoffman, Vicky Lord

Mutual Recognition and Assistance related to Insolvency Proceedings between the Courts of the People’s Republic of China and the Hong Kong SAR

In a highly significant development, on 14 May 2021 Yang Wangming, vice-president of the Supreme People’s Court and Hong Kong Secretary for Justice, Teresa Cheng signed a “record of meeting” implementing an arrangement between the courts of the mainland and the Hong Kong SAR concerning mutual recognition of corporate insolvencies.

Andrew Johnstone, Vicky Lord,
Peter Ferrer, Katie Pearson

It’s time for offshore jurisdictions to have cross class cram downs in the restructuring toolkit

The recent case of Re Gategreoup concerned a “plan” within the new English Part 26A of the 2006 Act, implemented by the Corporate Governance and Insolvency Act 2020, where cross-class cram downs are available. This restructuring option is not yet available offshore, but Harneys believes that it should be - by way of legislative change.

Ian Mann, Katie Pearson,
Chai Ridgers, Claire Goldstein,
Jayson Wood

Cape Town Convention matters not a Blot for MAB Leasing Limited

As reported in our previous blog, the High Court of England and Wales made a convening order regarding the scheme of arrangement (the Scheme) of MAB Leasing Limited (the Company), a company incorporated in Malaysia as part of the group which operated Malaysian Airlines. The Company leased aircrafts under 52 lease agreements which were all governed by English law, and the scheme creditors were the lessors under those agreements.

Leona Healey, Lorinda Peasland,
Peter Ferrer, Chai Ridgers

Take 10 season three, episode two – The inner workings of the Privy Council

On episode two of this season’s Take 10 podcast, Partner William Peake is joined by our London Litigation team, Counsels Francesca Gibbons and Deirdre MacNamara, and Associate Joshua Shuardson-Hipkin, to discuss the inner workings of the Judicial Committee of the Privy Council.

William Peake, Francesca Gibbons,
Deirdre MacNamara, Joshua Shuardson-Hipkin

Differences in rights do not necessarily fracture a class

In the recent case of Re MAB Leasing Limited in the High Court of England and Wales, MAB Leasing Limited applied to the Court for an order to convene a meeting of creditors to approve a scheme of arrangement. The Company, incorporated in Malaysia, was part of the group which operated Malaysian Airlines. However, as it was liable to be wound up in England and Wales as an overseas company, the Court had jurisdiction over it to sanction a scheme of arrangement.

Leona Healey, Lorinda Peasland,
Peter Ferrer, Chai Ridgers

Protection from predatory creditor actions in the BVI: the imposition of a “moratorium” in all but name

As reported in our Century Sunshine blog, Justice Jack, in the BVI Commercial Court recently appointed joint provisional liquidators over four BVI companies on a “light touch” basis following the precedent set down in Constellation. The terms of the joint provisional liquidators’ appointment mean that they will supervise the ongoing management of the companies by the existing boards of directors and ensure that the companies work towards a “holistic” restructuring of the wider Group’s debts.

Christopher Pease, Charles Wong,
Chai Ridgers, Lorinda Peasland,
Peter Ferrer, Jayson Wood