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

Re China Resources – PL fails for lack of Hong Kong creditor support

In the recent decision of Re China Resources and Transportation Group Ltd in the Grand Court of the Cayman Islands, Justice Doyle dismissed an application for the appointment of provisional liquidators under s104 of the Companies Act (2021 Revision), on the ground that the petitioner had not established the appointment was necessary to prevent the dissipation or misuse of company assets or to prevent mismanagement or misconduct on the part of the directors, describing the evidence as “flimsy” and little more than assertion. The Court was also concerned that the application did not appear to have the support of any other creditors.

Chai Ridgers, Vicky Lord,
William Peake, Katie Pearson

Restructuring culture needs to change – Hong Kong Court leads the way

In the recent case of In the Matter of China Bozza Development Holdings Limited, Mr Justice Harris of the Hong Kong High Court recognised a Cayman Islands light touch PL but refused to grant that PL assistance. This was because there was no viable restructuring proposal, and there appeared to be a breach of the well-established route to common law recognition and restructuring as developed in Z-Obee, in order to obtain a de facto moratorium of enforcement action by creditors in Hong Kong. The case echoes the recent “scanty in the extreme” restructuring proposal in Lamtex Holdings Limited where a similarly hopeless restructuring proposal led to the application for recognition being flatly refused. Further, the company appeared to have little regard to the interests of creditors in its proposals.

Ian Mann, Julie Engwirda,
William Peake, Katie Pearson

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

Creditor petitions and attempts to adjourn in the times of COVID: In re GBC Oil Company Ltd

A short decision recently released by the Financial Services Division of the Cayman Islands Grand Court serves as a helpful reminder of certain principles concerning creditor petitions presented on the grounds of a company’s inability to pay its debts: In re GBC Oil Company Ltd.

James Eggleton, Jessica Williams,
Paula Kay, Jeremy Child

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

SICL Liquidators’ claw-back claim rejected – important analysis of knowing receipt principles

The liquidators of Saad Investments Company have lost their seven-year battle in the English Courts to claw-back US$318m worth of shares from the Saudi bank, Samba. The shares were transferred to Samba in 2009 by Maan Al Sanea, SICL’s founder, the Kuwaiti-born former fighter pilot whose business affairs have been the subject of litigation for over a decade, including the long-running case of AHAB v Saad & Ors in the Cayman Islands.

Niall Dodd, Grainne King,
William Peake, Paula Kay,
Jessica Williams, Jonathan Addo

A long way from home: The Hong Kong Court highlights the difficulties of winding up foreign companies

In the 19 November 2020 Hong Kong decision of Re China Huiyuan Juice Group Ltd [2020] HKCFI 2940, Mr Justice Harris highlights the difficulties associated with attempting to wind up a foreign (in this case, Cayman Islands) company in the Hong Kong Court rather than in the jurisdiction of the company’s incorporation.

Lachlan Greig, Jessica Williams,
Vicky Lord, Andrew Johnstone