Walkers' global Insolvency & Dispute Resolution Group has been shortlisted in the 'Small or Regional Law Firms' category for the upcoming 2019 Global Restructuring Review ("GRR") Awards. Walkers is the only offshore law firm to be nominated for the award, having impressed GRR's editorial team with its involvement in several high profile cases over the past year.
The firm is recognised for its victory as the liquidators of Saad Investments in the longest, and most complex, mega-litigation to ever take place in the Cayman Islands. The Grand Court of the Cayman Islands dismissed multibillion-dollar fraud claims against Saad, finding that the plaintiff – Saudi conglomerate AHAB – had known of and authorised what the court described as potentially one of the largest Ponzi schemes in history. Walkers partners Colette Wilkins and Shelley White led the case, with assistance from partners Rupert Bell and Nick Dunne. Walkers continue to act for the liquidators in the appeal to the Cayman Islands Court of Appeal.
Walkers is also noted for its involvement in the liquidation of Mongolian coal producer, Mongolian Mining Corporation as it pursued a local scheme and acting for Chinese investor Jinpeng Group as it seeks to recover US$35 million loaned to luxury resort owner Peak Hotels. Walkers partners, Neil Lupton, along with Hong Kong partners Fraser Hern and Joanne Collett acted for Mongolian Mining Corporation and its former joint provisional liquidators. In the BVI, partner Oliver Clifton worked with Hong Kong partner Fraser Hern for Jinpeng Group Ltd.
The GRR Awards celebrate all the best cross-border restructuring and insolvency developments around the world in between March 2018 and March 2019. The GRR Awards 2019 are being held in the El Palace Hotel in Barcelona on 15 June.