Work Area: Insolvency

A UK court has approved a restructuring plan for a subsidiary of Houston-based construction group McDermott that will effectively extinguish a US$1.3 billion ICC award debt owed to a Colombian state-owned entity.

28 February 2024

The Indian Supreme Court is set to send a billion-dollar dispute between India’s national oil company and a joint venture between ArcelorMittal and Japan’s Nippon Steel to arbitration.

09 February 2024

A US court has thrown out a lawsuit against Burford Capital, finding it has no power to interfere in a London-seated LCIA arbitration despite allegations of undisclosed ties between the funder and the arbitral institution.

12 January 2024

Singapore’s Court of Appeal has ordered the winding-up of a metals trader after concluding that its attempt to invoke a CIETAC arbitration clause was “clearly an abuse of process.”

29 November 2023

A joint venture between Shell and the Brunei government has filed two claims at the Singapore International Arbitration Centre against a Malaysian engineering contractor undergoing a US$3 billion debt restructuring.

13 October 2023

Leading telecoms groups Telefónica, América Móvil and TIM have settled their arbitration with troubled Brazilian operator Oi over the price they paid to acquire its mobile assets.

11 October 2023

A Hong Kong court has granted a request by embattled Chinese property developer Evergrande to restrain an HKIAC arbitration worth US$110 million brought by one of its creditors, finding it would interfere with winding-up proceedings.

26 September 2023

The Privy Council in London has held that a Cayman court petition to wind up the operator of a billion-dollar Chinese convenience store business should be stayed because the matters at the heart of the petition fall within the scope of a Beijing-seated ICC arbitration clause.

21 September 2023

A former international arbitration partner at several well-known US law firms has pleaded guilty to bankruptcy fraud before a federal court in New York.

13 September 2023

An Israel-based fintech group facing allegations of a US$4 billion fraud has filed for bankruptcy protection in Delaware, thwarting an insurance broker’s bid for injunctive relief in aid of a threatened arbitration in Bermuda.

21 August 2023