Recent Developments
Recent Developments
Recent Developments
Recent Developments
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Recent Developments
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Recent Developments
Hong Kong Court records available publicly today show that a Petition was presented last Friday to wind up O.W. Bunker China Ltd (a Hong Kong company). The records indicate that the Winding-up Petition was presented by the company itself rather than a creditor. This is consistent with the steps taken by other companies within the OW Bunker group to seek Court protection.
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments
Recent Developments
On November 7, 2014, Judge Steven Rhodes, the judge presiding over the City of Detroit's bankruptcy case, announced that he would confirm the City's proposed Plan of Adjustment (the "Plan"), including the creditor settlements contained within that Plan. A more detailed written opinion will follow, but the opinion read from the bench on November 7, together with an earlier opinion in this case, are among the most important precedents in U.S. municipal bankruptcy law.
We are receiving numerous enquiries regarding the fallout from the bankruptcy of OW Bunker A/S and certain associated companies. At this stage, some companies are in formal bankruptcy proceedings, with the Court protection that usually entails, but others are not.