Fulltext Search
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.

Singapore, USA, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Injunction
High Court considers the circumstances in which it can extend time for payment by a defendant where it has admitted the claim

In Gulf International Bank v Al Ittefaq Steel Products Co and others [2010] EWHC 2601 (QB), the High Court set out the factors that must be taken into account by the court when exercising its discretion to extend time for payment of sums due following an admission.

United Kingdom, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debtor, Interest, Consideration, Debt, Capital punishment, High Court of Justice (England & Wales)
Enforcement action stayed in light of Korean insolvency

The case of D/S Norden A/S v Samsun Logix Corp & Ors [2009] EWHC 2304 (Ch) concerned international co-operation in insolvency proceedings under the UNCITRAL model law on cross-border insolvency. S was subject to insolvency proceedings in Korea. The English court, having recognised the Korean insolvency proceedings, had granted a stay on creditors issuing proceedings against S and its property.

United Kingdom, Insolvency & Restructuring, Litigation, Reed Smith LLP, Estoppel, UNCITRAL, Uniform Act, High Court of Justice (England & Wales)
Stay – Judgments Regulation

In DHL GBS (UK) Ltd v Fallimento Finmatica Spa – Butterworths Law Direct 20.2.09 the Commercial Court gave its first decision on the issues dealt with by the ECJ in the Front Comor.

United Kingdom, Arbitration & ADR, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Injunction, Arbitration clause, Common Gateway Interface, Court of Justice of the European Union, High Court of Justice (England & Wales), Commercial Court (England and Wales)