Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Blaneys Ontario Court of Appeal Summaries
    2017-03-17

    Hello:

    There were only three short procedural decisions we summarized this week.

    Have a good one.

    John Polyzogopoulos Blaney McMurtry LLP [email protected] Tel: 416 593 2953 http://www.blaney.com/lawyers/john-polyzogopoulos

    Table of Contents:

    Civil Decisions:

    Filed under:
    Canada, Ontario, Banking, Insolvency & Restructuring, Litigation, Real Estate, Blaney McMurtry LLP, Bankruptcy, Ernst & Young, Court of Appeal for Ontario
    Location:
    Canada
    Firm:
    Blaney McMurtry LLP
    Liquidators examinations and legal professional privilege
    2009-03-02

    Hong Kong's highest court has considered for the second time in recent years the conduct of examinations under section 221 of the Companies Ordinance. That section enables (amongst other things) a court to compel any persons whom it believes may have information concerning the affairs or dealings of a company in liquidation to be examined in private under oath.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Audit, Discovery, Negligence, Liquidation, Writ, Liquidator (law), Tangible property, Legal professional privilege, Ernst & Young, Court of Appeal of England & Wales, High Court of Justice (England & Wales), Court of Final Appeal (Hong Kong)
    Location:
    Hong Kong
    Firm:
    Herbert Smith Freehills LLP
    Ernst & Young settle the Akai Holdings case
    2009-10-16

    Ernst & Young ("E&Y") has settled the Akai Holdings ("Akai") case with Akai’s liquidator, Borrelli Walsh. In this case, E&Y was accused of negligence for failing to avert Akai’s collapse in 2004.

    E&Y had been Akai’s auditor prior to the collapse, which remains Hong Kong’s biggest ever insolvency. The terms of the settlement are confidential.

    On 24 September 2009, the South China Morning Post reported that new evidence had come to light which suggested that E&Y’s staff had tampered with or faked hundreds of documents relating to its audit of Akai.

    Filed under:
    Hong Kong, Insolvency & Restructuring, Litigation, Locke Lord LLP, Confidentiality, Audit, Accounting, Negligence, Liquidator (law), Financial Reporting Council, Ernst & Young
    Authors:
    Helen Clark , Jeanne Kohler , M Machua Millett
    Location:
    Hong Kong
    Firm:
    Locke Lord LLP
    Is Bank Debt a Security?: Dangerous Implications of the General Motors Litigation
    2016-08-16

    Borrowers, agent banks, syndicate members and secondary market purchasers incur, syndicate, sell and buy bank debt on the assumption that bank debt is not a “security.” However, a June 30, 2016, opinion in the General Motors preference litigation1shows that such an assumption may no longer be valid, at least under the Bankruptcy Code.

    Filed under:
    USA, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Public company, Bond (finance), Bankruptcy, Security (finance), Interest, Debt, Personal property, General Motors, Ernst & Young, Uniform Commercial Code (USA)
    Authors:
    Thomas Moers Mayer
    Location:
    USA
    Firm:
    Kramer Levin Naftalis & Frankel LLP
    House of Fraser pre-pack: still a viable option
    2018-08-31

    Sports Direct International plc's last-minute offer to buy substantially all of the assets of House of Fraser out of administration is the latest example of a pre-packaged administration being used to rescue a failing business and continue it as a going concern.

    The House of Fraser pre-pack sale to Sports Direct, the British retail group headed by Mike Ashley, was announced almost immediately after House of Fraser entered into administration, and included a transfer of its UK stores, the brand and all of its stock and employees.

    Filed under:
    United Kingdom, Employment & Labor, Insolvency & Restructuring, White & Case, Ernst & Young, Insolvency Act 1986 (UK)
    Authors:
    Ian Wallace , Chris Edgington
    Location:
    United Kingdom
    Firm:
    White & Case
    Professional firms - in the fee firing line again
    2018-05-30

    In the last week we have seen MPs criticise accountancy firms, KPMG, Deloitte, EY and PWC in their first report on the collapse of Carillion, describing the big four as “a cosy club” and calling for the firms to be forcibly broken up. Whilst not suggesting that the firms were to blame for the collapse, it is the level of fees reportedly paid to the firms which caught the MPs attention– £72 million in 10 years.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Squire Patton Boggs, Deloitte, KPMG, Ernst & Young, Carillion
    Authors:
    Susan Kelly
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    House Committee on Financial Services holds hearing on Lehman Bankruptcy examiner’s report
    2010-04-26

    On April 20, the House Committee on Financial Services held a hearing to discuss public policy issues raised by last month’s report of court-appointed bankruptcy examiner for Lehman Brothers Holdings Inc. (Lehman Brothers), Mr. Anton R. Valukas. The Committee heard testimony from the following witnesses:

    Panel One:

    Filed under:
    USA, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Audit, Board of directors, Accounting, Defamation, Balance sheet, US Securities and Exchange Commission, Federal Reserve (USA), FSAB, US House Committee on Financial Services, Chair of the Federal Reserve, Lehman Brothers, Ernst & Young, Chief executive officer
    Authors:
    Dianne Trenholm
    Location:
    USA
    Firm:
    Alston & Bird LLP
    NY AG settles with Ernst & Young over alleged financial statement fraud prior to Lehman collapse
    2015-04-19

    The New York State Attorney General settled a lawsuit against Ernst & Young related to its involvement in the financial statement preparation of Lehman Brothers Holding, Inc. The NY AG had alleged that the auditing firm had countenanced Lehman’s inclusion of certain repurchase transactions as sales and not as financings, which permitted the firm to remove “tens of billions of dollars” of securities from its balance sheet. According to the NY AG, the repo transactions—known as “Repo 105”—“served no legitimate purpose.

    Filed under:
    USA, New York, Capital Markets, Insolvency & Restructuring, Katten Muchin Rosenman LLP, Fraud, Lehman Brothers cases, Ernst & Young
    Authors:
    Gary DeWaal
    Location:
    USA
    Firm:
    Katten Muchin Rosenman LLP
    Professional firms - in the fee firing line again
    2018-05-30

    In the last week we have seen MPs criticise accountancy firms, KPMG, Deloitte, EY and PWC in their first report on the collapse of Carillion, describing the big four as “a cosy club” and calling for the firms to be forcibly broken up. Whilst not suggesting that the firms were to blame for the collapse, it is the level of fees reportedly paid to the firms which caught the MPs attention– £72 million in 10 years.

    Filed under:
    United Kingdom, Insolvency & Restructuring, Squire Patton Boggs, Deloitte, KPMG, Ernst & Young, Carillion
    Authors:
    Susan Kelly
    Location:
    United Kingdom
    Firm:
    Squire Patton Boggs
    House of Fraser pre-pack: still a viable option
    2018-08-31

    Sports Direct International plc's last-minute offer to buy substantially all of the assets of House of Fraser out of administration is the latest example of a pre-packaged administration being used to rescue a failing business and continue it as a going concern.

    The House of Fraser pre-pack sale to Sports Direct, the British retail group headed by Mike Ashley, was announced almost immediately after House of Fraser entered into administration, and included a transfer of its UK stores, the brand and all of its stock and employees.

    Filed under:
    United Kingdom, Employment & Labor, Insolvency & Restructuring, White & Case LLP, Insolvency Act 1986 (UK), Ernst & Young
    Authors:
    Ian Wallace , Chris Edgington
    Location:
    United Kingdom
    Firm:
    White & Case LLP

    Pagination

    • Current page 1
    • Page 2
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days