Courts in New York and Singapore reach opposite conclusions on the validity of interpleader applications arising out of the OW Bunker bankruptcy

On 7 November 2014, OW Bunker A/S (“OW”), a global supplier and trader of marine fuel, filed for bankruptcy in Denmark. Further bankruptcies of OW subsidiaries and affiliates swiftly followed, including the bankruptcy of certain U.S. and Singapore-based OW entities.

Filed under:
Singapore, USA, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Injunction
Authors:
Charles G. Weller , Sally-Ann S. Underhill , Siân C. Fellows , Danielle Anderson
Location:
Singapore, USA
Firm:
Reed Smith LLP
Anti-suit injunctions, OW bunker and ISDA master agreements

SwissMarine Corporation Limited v O.W. Supply & Trading A/S (in bankruptcy) [2015] EWHC 1571 (Comm)

The Commercial Court has recently refused to grant an anti-suit injunction to SwissMarine Corporation Limited (SwissMarine) to restrain proceedings brought by O.W. Supply & Trading A/S (OW) against SwissMarine in Denmark.

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Reed Smith LLP, Injunction, Exclusive jurisdiction, International Swaps and Derivatives Association
Authors:
Brett Hillis , Ben Summerfield , Danielle Anderson , Nikhil Datta
Location:
United Kingdom
Firm:
Reed Smith LLP