The Federal Court of Australia recently determined an application brought by the administrators of a company in voluntary administration seeking judicial guidance on how to deal with claims for costs and interests resulting from two prior arbitrations. The key issue was whether the costs and interests awarded in the previous arbitrations were admissible to proof in the administration of the company, having regard to the fact that the relevant arbitral awards were made after the appointment of administrators.

The Court made a distinction between the two arbitrations as follows:

Like debtors, bankruptcy trustees, official committees, examiners, and estate-compensated professionals, foreign representatives in chapter 15 cases have statutory reporting obligations to the bankruptcy court and other stakeholders as required by the plain language of the Bankruptcy Code. Such duties include the obligation to keep the U.S. bankruptcy court promptly informed of changes in either the status of the debtor's foreign bankruptcy case or the status of the foreign representative's appointment in that case. Furthermore, chapter 15 provides a U.S.

In In re Global Cord Blood Corp., 2022 WL 17478530 (Bankr. S.D.N.Y. Dec. 5, 2022), the U.S. Bankruptcy Court for the Southern District of New York denied without prejudice a petition filed by the joint provisional liquidators for recognition of a "winding-up" proceeding commenced under Cayman Islands law.

Like debtors, bankruptcy trustees, official committees, examiners, and estate-compensated professionals, foreign representatives in chapter 15 cases have statutory reporting obligations to the bankruptcy court and other stakeholders as required by the plain language of the Bankruptcy Code. Such duties include the obligation to keep the U.S. bankruptcy court promptly informed of changes in either the status of the debtor's foreign bankruptcy case or the status of the foreign representative's appointment in that case. Furthermore, chapter 15 provides a U.S.

The rising strength of the United Arab Emirates as a commercial powerhouse has continued as the Covid-19 pandemic recedes. The UAE was a key business hub prior to 2020, but the flow of money and talent into the country has increased since then, driven by numerous factors including the UAE’s business-friendly climate, its stable political regime, and the access to fair and transparent justice mechanisms.

Patrick Gearon and Roger Elford, Charles Russell Speechlys

This is an extract from the 2022 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.

In summary

FUNDING IN FOCUS CONTENT SERIES REPORT T HREE JULY 2016 2 | VANNIN CAPITAL Funding in Focus Content Series Welcome Welcome to the third edition of Funding in Focus. Since the inception of Funding in Focus, the funding market has grown and developed. This development is reflected in the number, type and complexity of the cases we are being asked to fund across the globe. We have seen an exponential rise in requests for funding in a range of sectors, including in arbitration and insolvency, and in a range of jurisdictions.

Conyers were instructed by Silver Base Group Holdings Limited (“Silver Base”) in relation to a successful application for the appointment of “light-touch” provisional liquidators for restructuring purposes before the Grand Court of the Cayman Islands.

Offshore security enforcement Offshore security enforcement /3 Contents 4 Introduction 5 British Virgin Islands (BVI) 8 Cayman Islands 11 Isle of Man 14 Guernsey 18 Jersey 21 Luxembourg 24 Malta 27 Mauritius 30 About us 31 Key contacts Offshore security enforcement 4\ Introduction This briefing document summarises the key issues in enforcing security in the countries listed and is a general guide. Taylor Wessing does not have offices in the jurisdictions contained in this guide, but has called on the support of the firms acknowledged at the back.

The recent decision in Re Astora Women’s Health LLC illustrates the importance of cross-border recognition of insolvency processes, highlighting the benefits of a joined-up global approach which recognises that modern business do not stop for international borders.

With Astora hot off the presses and the twenty-fifth anniversary of the UNCITRAL Model Law on the horizon the team at SPB have taken stock of the cross-border recognition framework from the perspective of the UK and the US.

Astora